• Sat. Jun 15th, 2024

EURUSD on Tuesday dropped -0.02% to 1.08541. 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 Tuesday
Period Pct Chg Momentum
Tuesday -0.02% -1.9 Pips
Week to-date 0.08% 9.1 Pips
May 1.73% 185.1 Pips

Upcoming key events (London Time)

  Wed 01:00 PM EUR CPI Inflation Rate (1-mth)
  Wed 01:00 PM EUR CPI Inflation Rate (12-mth)
  Thu 01:30 PM USD GDP Annualized

What happened lately

 🇺🇸 U.S. Housing Price Index (1-mth) in March dropped to 0.1% compared to previous figure 1.2% in February
 🇩🇪 Germany ifo Expectations in May rose to 90.4 points compared to previous figure 89.9 points in April Source: ifo Institute


What can we expect from EURUSD today?

EURUSD on Tuesday dropped -0.02% to 1.08541. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08423 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08890 or trades above daily pivot 1.08656. Break above could target R1 at 1.08775. While to the downside, we are looking at 1.08423 (S1) and daily low of 1.08538 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.08538 would indicate selling pressure.

For the week to-date, take note that EURUSD is mixed as compared to the prior week.

Key levels to watch out:

R3 1.09127
R2 1.09008
R1 1.08775
Daily Pivot 1.08656
S1 1.08423
S2 1.08304
S3 1.08071
On Key

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