• Thu. Jun 13th, 2024

EURUSD on Tuesday rose 0.15% to 1.05744. 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 0.15% 15.9 Pips
Week to-date 0.67% 70.1 Pips
October 0.03% 3.5 Pips

Upcoming key events (London Time)

  Wed 10:00 AM EUR European Central Bank’s President Christine Lagarde speech

What happened lately

 🇺🇸 U.S. Monthly Retail Trade (1-mth) in September exceed forecast and dropped to 0.7% compared to previous figure 0.8, revised from 0.6% in August Census Bureau
 🇩🇪 Germany ZEW Survey – Economic Situation (Germany) in October below forecast and dropped to -79.9 points compared to previous figure -79.4 points in September ZEW
 🇺🇸 U.S. New York Empire State Manufacturing Index in October below forecast and dropped to -4.6 points compared to previous figure 1.9 points in September

EURUSD 4-hour Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Tuesday rose 0.15% to 1.05744. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for EURUSD looks bullish as the pair ended higher after Tuesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.06019 with break above could target R2 at 1.06295 or figure level area. While towards the downside, we are looking at daily low of 1.05326 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.05948 may suggest continuation after recent positive movement.

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

Key levels to watch out:

R3 1.06641
R2 1.06295
R1 1.06019
Daily Pivot 1.05673
S1 1.05397
S2 1.05051
S3 1.04775
On Key

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