• Sun. Jul 21st, 2024

EURUSD on Monday rose 0.49% to 1.05556. 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 0.49% 51.3 Pips
Week to-date 0.49% 51.3 Pips
October -0.14% -15.3 Pips

Upcoming key events (London Time)

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

What happened lately

 🇺🇸 U.S. New York Empire State Manufacturing Index in October below forecast and dropped to -4.6 points compared to previous figure 1.9 points in September

EURUSD 4-hour Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Monday rose 0.49% to 1.05556. 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 1.05263 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.05628 or trades above daily pivot 1.05445. Break above could target R1 at 1.05739. While to the downside, we are looking at 1.05263 (S1) and daily low of 1.05152 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.05628 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 1.06215
R2 1.05921
R1 1.05739
Daily Pivot 1.05445
S1 1.05263
S2 1.04969
S3 1.04787
On Key

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