• Mon. May 20th, 2024

EURUSD on Monday dropped -0.49% to 1.07367. 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 -0.49% -53.3 Pips
Week to-date -0.49% -53.3 Pips
April -0.49% -53.3 Pips

Upcoming key events (London Time)

  Tue 01:00 PM EUR CPI Inflation Rate (12-mth)
  Wed 10:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)

What happened lately

No major activities.


What can we expect from EURUSD today?

EURUSD on Monday dropped -0.49% to 1.07367. Price is below 9-Day EMA while Stochastic is falling in oversold zone.

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 1.07119 with break below could see further selling pressure towards S2 at 1.06872. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.07990 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.07307 would indicate selling pressure.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.49%.

Key levels to watch out:

R3 1.08485
R2 1.08238
R1 1.07802
Daily Pivot 1.07555
S1 1.07119
S2 1.06872
S3 1.06436
On Key

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