• Fri. Feb 23rd, 2024

EURUSD on Monday rose 0.28% to 1.09441. What we know.

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 0.28% 30.3 Pips
Week to-date 0.28% 30.3 Pips
November 3.5% 369.7 Pips

Upcoming key events (London Time)

  Tue 07:00 PM USD FOMC Meeting Minutes

What happened lately

 🇩🇪 Germany Producer Price Index (12-mth) in October improved to -11% compared to previous figure -14.7% in September
 🇩🇪 Germany Producer Price Index (1-mth) in October improved to -0.1% compared to previous figure -0.2% in September Federal Statistical Office (Destatis)


What can we expect from EURUSD today?

EURUSD on Monday rose 0.28% to 1.09441. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

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 1.09649 with break above could target R2 at 1.09858 or figure level area. While towards the downside, we are looking at daily low of 1.08970 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.09518 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 0.28% over the past few days.

Key levels to watch out:

R3 1.10197
R2 1.09858
R1 1.09649
Daily Pivot 1.0931
S1 1.09101
S2 1.08762
S3 1.08553

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