• Mon. May 20th, 2024

EURUSD on Monday dropped 0% to 1.06525. 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% -0.1 Pips
Week to-date -0.13% -14.2 Pips
April -1.3% -140.2 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

 🇪🇺 Euro Area Consumer Confidence in April flash estimate improved to -14.7 points compared to previous figure -14.9 points in March Source: DG ECFIN

What can we expect from EURUSD today?

EURUSD on Monday dropped 0% to 1.06525. 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 1.06273 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.06706 or trades above daily pivot 1.06489. Break above could target R1 at 1.06742. While to the downside, we are looking at 1.06273 (S1) and daily low of 1.06237 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.06237 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 1.07211
R2 1.06958
R1 1.06742
Daily Pivot 1.06489
S1 1.06273
S2 1.0602
S3 1.05804
On Key

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