• Mon. May 20th, 2024

EURUSD on Monday rose 0.11% to 1.09511. 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 0.11% 11.9 Pips
Week to-date 0.11% 11.9 Pips
January -0.78% -86.3 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

 🇪🇺 Euro Area Retail Trade Turnover (12-mth) in November below forecast and improved to -1.1% compared to previous figure -1.2% in October Source: Eurostat
 🇪🇺 Euro Area Economic Sentiment Indicator in December rose to 96.4 points compared to previous figure 94 points (revised from 93.8 points)
 🇪🇺 Euro Area Sentix Investor Confidence in January exceed forecast and improved to -15.8 points compared to previous figure -16.8 points in December


What can we expect from EURUSD today?

EURUSD on Monday rose 0.11% to 1.09511. 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 1.09227 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09788 or trades above daily pivot 1.09508. Break above could target R1 at 1.09791. While to the downside, we are looking at 1.09227 (S1) and daily low of 1.09224 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.09788 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 1.10355
R2 1.10072
R1 1.09791
Daily Pivot 1.09508
S1 1.09227
S2 1.08944
S3 1.08663
On Key

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