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 | 0.13% | 14 Pips |  |
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| Week to-date | 0.13% | 14 Pips |  |
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| May | 1.78% | 190 Pips | |
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Upcoming key events (London Time)
Wed 01:00 PM EUR CPI Inflation Rate (1-mth)
Wed 01:00 PM EUR CPI Inflation Rate (12-mth)
What happened lately
🇩🇪 Germany ifo Expectations in May rose to 90.4 points compared to previous figure 89.9 points in April Source: ifo Institute
What can we expect from EURUSD today?
EURUSD on Monday rose 0.13% to 1.08590. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for EURUSD looks bullish as the pair ended higher after Monday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.08709 with break above could target R2 at 1.08827 or figure level area. While towards the downside, we are looking at daily low of 1.08404 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.08675 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 | 1.0898 |
| R2 | 1.08827 |
| R1 | 1.08709 |
| Daily Pivot | 1.08556 |
| S1 | 1.08438 |
| S2 | 1.08285 |
| S3 | 1.08167 |
