• Thu. May 30th, 2024

EURUSD on Monday dropped -0.14% to 1.08804. Pair in consolidation. What we know.

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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% -15.6 Pips
Week to-date -0.14% -15.6 Pips
January -1.42% -157 Pips

Upcoming key events (London Time)

  Tue 09:00 AM EUR Euro area Bank Lending Survey

What happened lately

No major activities.


What can we expect from EURUSD today?

EURUSD on Monday dropped -0.14% to 1.08804. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08692 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09095 or trades above daily pivot 1.08894. Break above could target R1 at 1.09005. While to the downside, we are looking at 1.08692 (S1) and daily low of 1.08782 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.08782 would indicate selling pressure.

For the week to-date, take note that EURUSD is mixed as compared to the prior week.

Key levels to watch out:

R3 1.09318
R2 1.09207
R1 1.09005
Daily Pivot 1.08894
S1 1.08692
S2 1.08581
S3 1.08379
On Key

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