• Thu. Apr 18th, 2024

EURUSD on Tuesday rose 0.31% to 1.07970. 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 0.31% 33 Pips
Week to-date 0.34% 36.2 Pips
December -0.82% -89.1 Pips

Upcoming key events (London Time)

  Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
  Thu 01:15 PM EUR ECB Interest Rate on main refinancing operations (MRO)
  Thu 01:30 PM USD Monthly Retail Trade (1-mth)
  Thu 01:45 PM EUR European Central Bank Press Conference

What happened lately

 🇺🇸 U.S. CPI Inflation Rate (12-mth) in November dropped to 3.1% compared to previous figure 3.2% in October Source: Bureau of Labor Statistics

What can we expect from EURUSD today?

EURUSD on Tuesday rose 0.31% to 1.07970. Price is below 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 1.08298 with break above could target R2 at 1.08626 or figure level area. While towards the downside, we are looking at daily low of 1.07608 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.08281 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 1.08971
R2 1.08626
R1 1.08298
Daily Pivot 1.07953
S1 1.07625
S2 1.0728
S3 1.06952
On Key

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