• Wed. Jul 24th, 2024

EURUSD on Monday rose 0.12% to 1.12395. Pair in consolidation. What we know.

mrket

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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 0.12% 13.1 Pips
Week to-date 0.12% 13.1 Pips
July 3.04% 332.1 Pips

Upcoming key events (London Time)

  Tue 01:30 PM USD Monthly Retail Trade (1-mth)
  Tue 01:30 PM USD Retail Trade Control Group

What happened lately

 🇺🇸 U.S. New York Empire State Manufacturing Index in July dropped to 1.1 points compared to previous figure 6.6 points in June


EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Monday rose 0.12% to 1.12395. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.12119 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.12488 or trades above daily pivot 1.12304. While to the downside, the daily low of 1.12028 and 1.12119 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.12488 may suggest continuation after recent positive movement.For the week to-date, take note that EURUSD is mixed as compared to prior week.

Key levels to watch out:

R3 1.13039
R2 1.12764
R1 1.12579
Daily Pivot 1.12304
S1 1.12119
S2 1.11844
S3 1.11659
On Key

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