As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.
|Performance after Monday|
|Week to-date||0.31%||33.5 Pips|
Upcoming key events (London Time)
Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 07:00 PM USD FOMC Monetary Policy Statement
Wed 07:00 PM USD FOMC Economic Projections
Wed 07:00 PM USD Interest Rate Projections
Wed 07:30 PM USD FOMC Press Conference
What happened lately
No major activities.
What can we expect from EURUSD today?
EURUSD on Monday rose 0.31% to 1.06931. Price is below 9-Day EMA while Stochastic is falling in oversold 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 1.07099 with break above could target R2 at 1.07268 or figure level area. While towards the downside, we are looking at daily low of 1.06540 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.06988 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: