• Fri. Oct 4th, 2024
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EURUSD on Monday dropped -0.6% to 1.09253. What we know

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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 -0.6% -65.7 Pips
Week to-date -0.61% -67 Pips
April 0.79% 85.9 Pips

Upcoming key events (London Time)

No further events

What happened lately

No major activities.

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Monday dropped -0.6% to 1.09253. 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 1.08889 (S1) with break below could see further selling pressure towards 1.08526 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.09998 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.09080 would indicate selling pressure.

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

Key levels to watch out:

R3 1.10725
R2 1.10362
R1 1.09807
Daily Pivot 1.09444
S1 1.08889
S2 1.08526
S3 1.07971

 

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