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 | 0.23% | 24.6 Pips |  |
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| Week to-date | -0.21% | -22.6 Pips |  |
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| April | -0.21% | -22.6 Pips |  |
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Upcoming key events (London Time)
Wed 10:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)
Wed 05:10 PM USD Federal Reserve Chair Jerome Powell speech
What happened lately
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in February rose to 8.756M compared to previous figure 8.748, revised from 8.863M in January Source: Bureau of Labor Statistics
🇺🇸 U.S. Factory Orders (1-mth) in February rose to 1.4% compared to previous figure -3.8, revised from -3.6% in January Source: Census Bureau
🇩🇪 Germany Harmonized Index of Consumer Prices (1-mth) in March flash estimate unchanged at 0.6% compared to previous report in February.
🇩🇪 Germany CPI Inflation Rate (12-mth) in March flash estimate dropped to 2.2% compared to previous figure 2.5% in February
🇩🇪 Germany CPI Inflation Rate (1-mth) in March flash estimate unchanged at 0.4% compared to previous report in February.
🇩🇪 Germany Harmonised Index of Consumer Prices (HICP) (12-mth) in March flash estimate dropped to 2.3% compared to previous figure 2.7% in February Source: Destatis
What can we expect from EURUSD today?
EURUSD on Tuesday rose 0.23% to 1.07674. 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 1.07349 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07790 or trades above daily pivot 1.07569. Break above could target R1 at 1.07895. While to the downside, we are looking at 1.07349 (S1) and daily low of 1.07244 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.07790 may suggest continuation after recent positive movement.
For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.21%.
Key levels to watch out:
| R3 | 1.08441 |
| R2 | 1.08115 |
| R1 | 1.07895 |
| Daily Pivot | 1.07569 |
| S1 | 1.07349 |
| S2 | 1.07023 |
| S3 | 1.06803 |
