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 | 0.05% | 5.6 Pips |  |
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| Week to-date | 0.05% | 5.6 Pips | |
||
| May | 0.91% | 97.5 Pips | |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
🇪🇺 Euro Area Producer Price Index (12-mth) in March improved to -7.8% compared to previous figure -8.5, revised from -8.3% in February
🇪🇺 Euro Area Sentix Investor Confidence in May improved to -3.6 points compared to previous figure -5.9 points in April
What can we expect from EURUSD today?
EURUSD on Monday rose 0.05% to 1.07665. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.07508 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07907 or trades above daily pivot 1.07707. Break above could target R1 at 1.07865. While to the downside, we are looking at 1.07508 (S1) and daily low of 1.07550 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.07907 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 | 1.08222 |
| R2 | 1.08064 |
| R1 | 1.07865 |
| Daily Pivot | 1.07707 |
| S1 | 1.07508 |
| S2 | 1.0735 |
| S3 | 1.07151 |
