• Wed. May 29th, 2024

EURUSD on Monday dropped -0.14% to 1.08716. Winners and losers.


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Dear ,

As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.

EURUSD Analysis

Performance after Monday
Period Pct Chg Momentum
Monday -0.14% -15.3 Pips
Week to-date -0.14% -15.3 Pips
March 0.61% 66.3 Pips

Upcoming key events (London Time)

  Wed 06:00 PM USD FOMC Monetary Policy Statement
  Wed 06:00 PM USD FOMC Economic Projections
  Wed 06:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)

What happened lately

No major activities.

What can we expect from EURUSD today?

EURUSD on Monday dropped -0.14% to 1.08716. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks bearish as the pair posted lower in Monday trading session.

Looking ahead for the day, immediate support level is at S1 1.08562 with break below could see further selling pressure towards S2 at 1.08409. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.09061 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.08658 would indicate selling pressure.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.14%.

Key levels to watch out:

R3 1.09368
R2 1.09215
R1 1.08965
Daily Pivot 1.08812
S1 1.08562
S2 1.08409
S3 1.08159
On Key

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