• Thu. Jul 18th, 2024

EURUSD on Wednesday rose 0.17% to 1.06234. 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 0.17% 18.4 Pips
Week to-date 0.36% 37.7 Pips
October 0.5% 52.4 Pips

Upcoming key events (London Time)

  Thu 01:30 PM USD CPI Inflation Rate (12-mth)
  Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

 🇺🇸 U.S. Producer Price Index excluding Food and Energy sectors (12-mth) in September rose to 2.7% compared to previous figure 2.5% (revised from 2.2%)


EURUSD 4-hour Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Wednesday rose 0.17% to 1.06234. Price is above 9-Day EMA while Stochastic is rising.

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 1.06455 with break above could target R2 at 1.06676 or figure level area. While towards the downside, we are looking at daily low of 1.05799 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.06348 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 0.36% over the past few days.

Key levels to watch out:

R3 1.07004
R2 1.06676
R1 1.06455
Daily Pivot 1.06127
S1 1.05906
S2 1.05578
S3 1.05357
On Key

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