EURUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.01% | -1.5 Pips |  |
||
| Week to-date | -0.16% | -16.6 Pips |  |
||
| April | -1.56% | -168.1 Pips | |
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Upcoming key events (London Time)
Wed 06:45 PM EUR European Central Bank’s President Christine Lagarde speech
What happened lately
🇩🇪 Germany ZEW Survey – Economic Situation (Germany) in April improved to -79.2 points compared to previous figure -80.5 points in March Source: ZEW
🇺🇸 U.S. New York Empire State Manufacturing Index in April improved to -14.3 points compared to previous figure -20.9 points in March 🇺🇸 U.S. Monthly Retail Trade (1-mth) in March dropped to 0.7% compared to previous figure 0.9, revised from 0.6% in February Source: Census Bureau
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What can we expect from EURUSD today?
EURUSD on Tuesday dropped -0.01% to 1.06219. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.05974 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.06535 or trades above daily pivot 1.06255. Break above could target R1 at 1.06499. While to the downside, we are looking at 1.05974 (S1) and daily low of 1.06010 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.06010 would indicate selling pressure.
For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.16%.
Key levels to watch out:
| R3 | 1.07024 |
| R2 | 1.0678 |
| R1 | 1.06499 |
| Daily Pivot | 1.06255 |
| S1 | 1.05974 |
| S2 | 1.0573 |
| S3 | 1.05449 |
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