• Mon. May 20th, 2024

EURUSD on Wednesday rose 0.16% to 1.09493. 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 Wednesday
Period Pct Chg Momentum
Wednesday 0.16% 18 Pips
Week to-date 0.06% 6.3 Pips
March 1.34% 144.3 Pips

Upcoming key events (London Time)

  Thu 12:30 PM USD PPI excluding Food and Energy sectors (12-mth)
  Thu 12:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

 🇺🇸 U.S. Monthly Budget Statement in February dropped to -296$ compared to previous figure -22$ in January Source: Bureau of the Fiscal Service


What can we expect from EURUSD today?

EURUSD on Wednesday rose 0.16% to 1.09493. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.09688 with break above could target R2 at 1.09882 or figure level area. While towards the downside, we are looking at daily low of 1.09199 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.09638 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 1.10127
R2 1.09882
R1 1.09688
Daily Pivot 1.09443
S1 1.09249
S2 1.09004
S3 1.0881
On Key

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