EURUSD on Wednesday dropped -0.08% to 1.07474. What we know.

EURUSD on Wednesday dropped -0.08% to 1.07474. What we know.

EURUSD Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday -0.08% -8.5 Pips
Week to-date -0.13% -13.5 Pips
May 0.73% 78.4 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇩🇪 Germany Industrial Production n.seasonal adjustment. w.d.a. (12-mth) in March improved to -3.3% compared to previous figure -4.9% in February
🇪🇺 Euro Area Retail Trade Turnover (1-mth) in March rose to 0.8% compared to previous figure -0.3, revised from -0.5% in February
🇩🇪 Germany Factory Orders seasonal adjustment. (1-mth) in March dropped to -0.4% compared to previous figure 0.2% in February

Latest from X (Twitter)

What can we expect from EURUSD today?

EURUSD on Wednesday dropped -0.08% to 1.07474. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks bearish as the pair posted lower in Wednesday trading session.

Looking ahead for the day, immediate support level is at S1 1.07344 with break below could see further selling pressure towards S2 at 1.07215. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.07575 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.07330 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 1.07834
R2 1.07705
R1 1.07589
Daily Pivot 1.0746
S1 1.07344
S2 1.07215
S3 1.07099

Leave a Reply

Your email address will not be published. Required fields are marked *