• Sat. Jun 15th, 2024

EURUSD on Tuesday dropped -0.02% to 1.08574. 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% -1.8 Pips
Week to-date -0.09% -10 Pips
May 1.77% 188.4 Pips

Upcoming key events (London Time)

  Wed 09:00 AM EUR European Central Bank’s President Christine Lagarde speech
  Wed 07:00 PM USD FOMC Meeting Minutes

What happened lately

 🇩🇪 Germany Producer Price Index (12-mth) in April dropped to -3.3% compared to previous figure -2.9% in March


What can we expect from EURUSD today?

EURUSD on Tuesday dropped -0.02% to 1.08574. 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 1.08416 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08748 or trades above daily pivot 1.08582. Break above could target R1 at 1.0874. While to the downside, we are looking at 1.08416 (S1) and daily low of 1.08424 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.08424 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 1.09064
R2 1.08906
R1 1.0874
Daily Pivot 1.08582
S1 1.08416
S2 1.08258
S3 1.08092
On Key

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