• Thu. Apr 18th, 2024

EURUSD on Tuesday rose 0.52% to 1.09806. 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 0.52% 57.1 Pips
Week to-date 0.81% 88.4 Pips
December 0.87% 94.5 Pips

Upcoming key events (London Time)

  Thu 01:30 PM USD GDP Annualized

What happened lately

 🇪🇺 Euro Area Harmonized Index of Consumer Prices (HICP) (1-mth) in November exceed forecast and dropped to -0.6% compared to previous figure -0.5% in October Source: Eurostat
 🇩🇪 Germany ifo Expectations in December dropped to 84.3 points compared to previous figure 85.1 points (revised from 85.2 points) Source: ifo Institute


What can we expect from EURUSD today?

EURUSD on Tuesday rose 0.52% to 1.09806. Price is above 9-Day EMA while Stochastic is falling.

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 1.10071 with break above could target R2 at 1.10336 or figure level area. While towards the downside, we are looking at daily low of 1.09145 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.09873 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 1.10799
R2 1.10336
R1 1.10071
Daily Pivot 1.09608
S1 1.09343
S2 1.0888
S3 1.08615
On Key

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