EURUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.16% | -17.4 Pips |  |
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| Week to-date | -0.05% | -5.8 Pips | |
||
| June | -0.02% | -2.4 Pips | |
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Upcoming key events (London Time)
Thu 10:00 AM EUR GDP (seasonally adjusted) (3-mth) Thu 10:00 AM EUR GDP (seasonally adjusted) (12-mth)
What happened lately
🇪🇺 Retail Trade Turnover (12-mth) in April dropped to -2.6% compared to previous figure -3.3% in March (revised from -3.8%) Eurostat
🇺🇸 Factory Orders (1-mth) in April exceed forecast and rose to 4% compared to previous figure 0.9% in March Census Bureau
What can we expect from EURUSD today?
EURUSD on Tuesday dropped -0.16% to 1.06928. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.06616 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07329 or trades above daily pivot 1.06972. Break above could target R1 at 1.07285. While to the downside, we are looking at 1.06616 (S1) and daily low of 1.06660 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.06660 would indicate selling pressure.
For the week to-date, take note that EURUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.07954 |
| R2 | 1.07641 |
| R1 | 1.07285 |
| Daily Pivot | 1.06972 |
| S1 | 1.06616 |
| S2 | 1.06303 |
| S3 | 1.05947 |
You might be interested in:
Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
Industrial producer prices down by 3.2% in the euro area and by 2.9% in the EU. Eurostat
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