• Thu. May 30th, 2024

EURUSD on Wednesday rose 0.45% to 1.06717. What you need to 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 0.45% 48.1 Pips
Week to-date 0.31% 33.2 Pips
April -1.1% -118.3 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

 🇪🇺 Euro Area Core Harmonised Index of Consumer Prices (HICP) (12-mth) in March unchanged at 2.9% compared to previous report in February. Source: Eurostat
 🇩🇪 Germany ZEW Survey – Economic Situation (Germany) in April improved to -79.2 points compared to previous figure -80.5 points in March Source: ZEW


What can we expect from EURUSD today?

EURUSD on Wednesday rose 0.45% to 1.06717. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

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 1.06989 with break above could target R2 at 1.07261 or figure level area. While towards the downside, we are looking at daily low of 1.06059 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.06796 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 1.07726
R2 1.07261
R1 1.06989
Daily Pivot 1.06524
S1 1.06252
S2 1.05787
S3 1.05515

 

On Key

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