• Thu. Jul 18th, 2024

EURUSD on Thursday dropped -0.37% to 1.10635. 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 Thursday
Period Pct Chg Momentum
Thursday -0.37% -40.9 Pips
Week to-date 0.48% 52.5 Pips
December 1.63% 177.4 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

No major activities.

What can we expect from EURUSD today?

EURUSD on Thursday dropped -0.37% to 1.10635. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.10324 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.11395 or trades above daily pivot 1.1086. Break above could target R1 at 1.1117. While to the downside, we are looking at 1.10324 (S1) and daily low of 1.10549 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.10549 would indicate selling pressure.

For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 0.48% over the past few days.

Key levels to watch out:

R3 1.12016
R2 1.11706
R1 1.1117
Daily Pivot 1.1086
S1 1.10324
S2 1.10014
S3 1.09478
On Key

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