• Mon. Oct 7th, 2024
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EURUSD on Wednesday rose 0.75% to 1.09914. How it happened

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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 0.75% 81.9 Pips
Week to-date 0.89% 96.8 Pips
April 1.48% 160.1 Pips

Upcoming key events (London Time)

Thu 07:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth) | Mar
Fri 01:30 PM USD Retail Trade Turnover (1-mth) | Mar
Fri 03:00 PM USD Michigan Index of Consumer Sentiment | Apr flash

What happened lately

USD CPI Inflation Rate (12-mth) | Mar in March below forecast and dropped to 5% compared to previous figure 6% in February.

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Wednesday rose 0.75% to 1.09914. 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 at 1.10248 (R1) while on the downside, we are looking at daily low of 1.09093 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.10004 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 0.89% over the past few days.

Key levels to watch out:

R3 1.11159
R2 1.10581
R1 1.10248
Daily Pivot 1.0967
S1 1.09337
S2 1.08759
S3 1.08426

 

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