• Mon. May 20th, 2024

EURUSD on Monday rose 0.27% to 1.09217. 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 0.27% 29.5 Pips
Week to-date 0.27% 29.5 Pips
December 0.33% 35.6 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

 🇩🇪 Germany ifo Expectations in December dropped to 84.3 points compared to previous figure 85.1 points (revised from 85.2 points) Source: ifo Institute


What can we expect from EURUSD today?

EURUSD on Monday rose 0.27% to 1.09217. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08995 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09312 or trades above daily pivot 1.09154. Break above could target R1 at 1.09375. While to the downside, we are looking at 1.08995 (S1) and daily low of 1.08932 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.09312 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 1.09755
R2 1.09534
R1 1.09375
Daily Pivot 1.09154
S1 1.08995
S2 1.08774
S3 1.08615
On Key

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