• Wed. May 29th, 2024

EURUSD on Monday dropped -0.15% to 1.08345. 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 -0.15% -16.7 Pips
Week to-date -0.13% -13.8 Pips
January -2% -221.3 Pips

Upcoming key events (London Time)

  Tue 10:00 AM EUR GDP (seasonally adjusted) (12-mth)
  Tue 10:00 AM EUR GDP (seasonally adjusted) (3-mth)
  Wed 07:00 AM EUR Retail Trade Turnover (12-mth)
  Wed 01:00 PM EUR CPI Inflation Rate (12-mth)
  Wed 01:00 PM EUR CPI Inflation Rate (1-mth)
  Wed 07:00 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 -0.15% to 1.08345. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08034 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08501 or trades above daily pivot 1.08267. Break above could target R1 at 1.08579. While to the downside, we are looking at 1.08034 (S1) and daily low of 1.07956 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.07956 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 1.09124
R2 1.08812
R1 1.08579
Daily Pivot 1.08267
S1 1.08034
S2 1.07722
S3 1.07489
On Key

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