• Wed. Dec 4th, 2024

EURUSD on Monday dropped -0.34% to 1.07637. What we know.

market monday 1

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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 -0.34% -36.3 Pips
Week to-date -0.34% -36.3 Pips
June -0.75% -81.3 Pips

Upcoming key events (London Time)

  Wed 07:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)
  Wed 01:30 PM USD CPI Inflation Rate (12-mth)
  Wed 01:30 PM USD CPI Inflation Rate (1-mth)
  Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
  Wed 07:00 PM USD Interest Rate Projections

What happened lately

 🇪🇺 Euro Area Sentix Investor Confidence| Jun in June rose to 0.3 points compared to previous figure -3.6 points in May

 


What can we expect from EURUSD today?

EURUSD on Monday dropped -0.34% to 1.07637. 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 1.07369 with break below could see further selling pressure towards S2 at 1.07101. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.07817 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.07325 would indicate selling pressure.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.34%.

Key levels to watch out:

R3 1.08353
R2 1.08085
R1 1.07861
Daily Pivot 1.07593
S1 1.07369
S2 1.07101
S3 1.06877