EURUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -0.35% | -38.1 Pips |  |
||
| Week to-date | -0.29% | -30.6 Pips |  |
||
| May | -2.9% | -319.6 Pips | |
||
Upcoming key events (London Time)
Thu 10:30 AM EUR European Central Bank’s President Christine Lagarde speech
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
🇺🇸 U.S. Housing Price Index (1-mth) in March dropped to 0.6% compared to previous figure 0.7% (revised from 0.5%)
What can we expect from EURUSD today?
EURUSD on Wednesday dropped -0.35% to 1.06944. Price is below 9-Day EMA while Stochastic is rising in oversold zone.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.06404 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07356 or trades above daily pivot 1.0688. Break above could target R1 at 1.0742. While to the downside, we are looking at 1.06404 (S1) and daily low of 1.06340 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.06340 would indicate selling pressure.
For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.29%.
EURUSD ended month of May trading session down by -2.9% or -319.6 pips lower.
Key levels to watch out:
| R3 | 1.08436 |
| R2 | 1.07896 |
| R1 | 1.0742 |
| Daily Pivot | 1.0688 |
| S1 | 1.06404 |
| S2 | 1.05864 |
| S3 | 1.05388 |
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