Forex

EURUSD on Monday dropped -0.44% to 1.08344. Pair in consolidation. What we know.

EURUSD on Monday dropped -0.44% to 1.08344. Pair in consolidation. What we know.
EURUSD on Monday dropped -0.44% to 1.08344.  Pair in consolidation. What we know.

EURUSD Analysis

Performance after Monday
Period Pct Chg Momentum
Monday -0.44% -47.4 Pips
Week to-date -0.44% -47.4 Pips
December -0.47% -51.7 Pips

Upcoming key events (London Time)

Tue 03:00 PM USD ISM Services PMI
Wed 10:00 AM EUR Retail Trade Turnover (12-mth)

What happened lately

?? U.S. Factory Orders (1-mth) in October exceed forecast and dropped to -3.6% compared to previous figure 2.3, revised from 2.8% in September Source: Census Bureau
?? Euro Area Sentix Investor Confidence in December exceed forecast and improved to -16.8 points compared to previous figure -18.6 points in November

Latest from X (Twitter)


What can we expect from EURUSD today?

EURUSD on Monday dropped -0.44% to 1.08344. 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 1.07954 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08905 or trades above daily pivot 1.08429. Break above could target R1 at 1.0882. While to the downside, we are looking at 1.07954 (S1) and daily low of 1.08039 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.08039 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 1.09686
R2 1.09295
R1 1.0882
Daily Pivot 1.08429
S1 1.07954
S2 1.07563
S3 1.07088

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