• Sat. Jul 20th, 2024

EURUSD on Tuesday dropped -0.92% to 1.09427. 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 -0.92% -101.3 Pips
Week to-date -0.86% -94.7 Pips
January -0.86% -94.7 Pips

Upcoming key events (London Time)

  Wed 07:00 PM USD FOMC Meeting Minutes
  Thu 01:00 PM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)

What happened lately

No major activities.

What can we expect from EURUSD today?

EURUSD on Tuesday dropped -0.92% to 1.09427. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks bearish as the pair posted lower in Tuesday trading session.

Looking ahead for the day, immediate support level is at S1 1.0906 with break below could see further selling pressure towards S2 at 1.08694. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.10433 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.09380 would indicate selling pressure.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.86%.

Key levels to watch out:

R3 1.11166
R2 1.108
R1 1.10113
Daily Pivot 1.09747
S1 1.0906
S2 1.08694
S3 1.08007
On Key

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