• Thu. Apr 18th, 2024

EURUSD on Monday rose 0.04% to 1.07646. 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 0.04% 3.8 Pips
Week to-date 0.04% 3.8 Pips
December -1.12% -121.5 Pips

Upcoming key events (London Time)

  Tue 01:30 PM USD CPI Inflation Rate (12-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 rose 0.04% to 1.07646. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.07443 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07790 or trades above daily pivot 1.07617. Break above could target R1 at 1.07819. While to the downside, we are looking at 1.07443 (S1) and daily low of 1.07414 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.07790 may suggest continuation after recent positive movement.

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

Key levels to watch out:

R3 1.08195
R2 1.07993
R1 1.07819
Daily Pivot 1.07617
S1 1.07443
S2 1.07241
S3 1.07067
On Key

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