• Sun. Jul 14th, 2024

EURUSD on Wednesday dropped -0.23% to 1.08776. What we know.

setup-analytics-concept-illustration_114360-1438

Featured Brokers

Liquidity

Min. Deposit: 100 USD

Regulated: NFA, CFTC

Broker Type: ECN, STP

AvaTrade

Min.Deposit: $100

Regulated: CySEC

Broker Type: ECN, STP

FBS

Min.Deposit: $1

Regulated: ASIC, IFSC

Broker Type: ECN, STP

JustMarkets

Min.Deposit: 1 USD

Regulated: FSA, CySEC

Broker Type: STP

Dear ,

As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.

EURUSD Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday -0.23% -25.1 Pips
Week to-date -0.6% -66 Pips
August -1.08% -119.2 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

 🇺🇸 U.S. Industrial Production (1-mth) in July rose to 1% compared to previous figure -0.8% (revised from -0.5%)
 🇪🇺 Euro Area Employment Change (3-mth) in Q2 preliminary estimate dropped to 0.2% compared to previous figure 0.6% in Q1
 🇪🇺 Euro Area GDP (seasonally adjusted) (12-mth) in Q2 preliminary estimate unchanged at 0.6% compared to previous report in Q1. The actual figure is also in line with the forecast Eurostat
 🇺🇸 U.S. Monthly Retail Trade (1-mth) in July exceed forecast and rose to 0.7% compared to previous figure 0.2% in June Census Bureau
 🇺🇸 U.S. Retail Trade Control Group in July rose to 1% compared to previous figure 0.5% (revised from 0.6%) Census Bureau

 

 

EURUSD 4-hour Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Wednesday dropped -0.23% to 1.08776. Price is below 9-Day EMA while Stochastic is falling in oversold zone.

Updated daily direction for EURUSD looks bearish as the pair posted lower in Wednesday trading session.

Looking ahead for the day, immediate support level is at S1 1.08544 with break below could see further selling pressure towards S2 at 1.08312. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.09346 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.08713 would indicate selling pressure.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.6%.

Key levels to watch out:

R3 1.0981
R2 1.09578
R1 1.09177
Daily Pivot 1.08945
S1 1.08544
S2 1.08312
S3 1.07911
On Key

Related Promotion