• Thu. Apr 18th, 2024

EURUSD on Tuesday dropped -0.08% to 1.06831. 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 -0.08% -8.7 Pips
Week to-date 0.22% 23.5 Pips
September -1.46% -158.4 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 07:00 PM USD FOMC Monetary Policy Statement
Wed 07:00 PM USD FOMC Economic Projections
Wed 07:00 PM USD Interest Rate Projections
Wed 07:30 PM USD FOMC Press Conference

What happened lately

No major activities.


EURUSD 4-hour Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Tuesday dropped -0.08% to 1.06831. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.06641 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07180 or trades above daily pivot 1.0691. Break above could target R1 at 1.07101. While to the downside, we are looking at 1.06641 (S1) and daily low of 1.06720 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.06720 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 1.07561
R2 1.0737
R1 1.07101
Daily Pivot 1.0691
S1 1.06641
S2 1.0645
S3 1.06181
On Key

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