• Thu. Apr 18th, 2024

EURUSD on Tuesday rose 0.41% to 1.06083. What happened.


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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 0.41% 43.3 Pips
Week to-date 0.21% 22.6 Pips
October 0.35% 37.4 Pips

Upcoming key events (London Time)

  Wed 07:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)
  Wed 01:30 PM USD Producer Price Index (12-mth)
  Wed 07:00 PM USD FOMC Meeting Minutes
  Thu 01:30 PM USD CPI Inflation Rate (12-mth)

What happened lately

 🇪🇺 Euro Area Sentix Investor Confidence in October below forecast and dropped to -21.9 points compared to previous figure -21.5 points in September
 🇩🇪 Germany Industrial Production n.seasonal adjustment. w.d.a. (12-mth) in August dropped to -2% compared to previous figure -1.7% (revised from -2.1%)

EURUSD 4-hour Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Tuesday rose 0.41% to 1.06083. 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 1.0634 with break above could target R2 at 1.06597 or figure level area. While towards the downside, we are looking at daily low of 1.05542 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.06198 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 0.21% over the past few days.

Key levels to watch out:

R3 1.06996
R2 1.06597
R1 1.0634
Daily Pivot 1.05941
S1 1.05684
S2 1.05285
S3 1.05028
On Key

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