• Sun. Jul 21st, 2024

EURUSD on Tuesday rose 0.41% to 1.09983. 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 0.41% 45.2 Pips
Week to-date 0.56% 61.6 Pips
November 4.01% 423.9 Pips

Upcoming key events (London Time)

  Wed 01:00 PM EUR CPI Inflation Rate (12-mth)
  Wed 01:00 PM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)
  Wed 01:30 PM USD GDP Annualized
  Thu 07:00 AM EUR Retail Trade Turnover (12-mth)
  Thu 10:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)
  Thu 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)

What happened lately

 🇺🇸 U.S. New-Home Sales Change (1-mth) in October below forecast and dropped to -5.6% compared to previous figure 8.6, revised from 12.3% in September

 


What can we expect from EURUSD today?

EURUSD on Tuesday rose 0.41% to 1.09983. 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 1.10268 with break above could target R2 at 1.10553 or figure level area. While towards the downside, we are looking at daily low of 1.09342 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.10090 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 0.56% over the past few days.

Key levels to watch out:

R3 1.11016
R2 1.10553
R1 1.10268
Daily Pivot 1.09805
S1 1.0952
S2 1.09057
S3 1.08772
On Key

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