• Thu. Apr 18th, 2024

EURUSD on Monday rose 0.72% to 1.06692. 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 0.72% 76.2 Pips
Week to-date 0.72% 76.2 Pips
October 0.93% 98.3 Pips

Upcoming key events (London Time)

  Tue 09:00 AM EUR Euro area Bank Lending Survey
  Tue 01:30 PM EUR European Central Bank’s President Christine Lagarde speech

What happened lately

 🇪🇺 Euro Area Consumer Confidence in October preliminary estimate below forecast and dropped to -17.9 points compared to previous figure -17.8 points in September DG ECFIN


EURUSD 4-hour Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Monday rose 0.72% to 1.06692. 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 1.07077 with break above could target R2 at 1.07462 or figure level area. While towards the downside, we are looking at daily low of 1.05711 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.06779 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 0.72% over the past few days.

Key levels to watch out:

R3 1.08145
R2 1.07462
R1 1.07077
Daily Pivot 1.06394
S1 1.06009
S2 1.05326
S3 1.04941
On Key

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