EURUSD on Tuesday dropped -0.12% to 1.08610. Pair in consolidation. What we know.
EURUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.12% | -13 Pips |  | ||
| Week to-date | 0.13% | 14 Pips |  | ||
| May | -1.39% | -153 Pips | | ||
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 Retail Trade Control Group in April rose to 0.7% compared to previous figure -0.4, revised from -0.3% in March Census Bureau
🇩🇪 ZEW Indicator of Economic Sentiment in May below forecast and dropped to -10.7 points compared to previous figure 4.1 points in April ZEW
🇪🇺 GDP (seasonally adjusted) (3-mth) in Q1 preliminary estimate unchanged at 0.1% compared to previous report in Q4. The actual figure is also in line with the forecast Eurostat
What can we expect from EURUSD today?
EURUSD on Tuesday dropped -0.12% to 1.08610. 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 1.08418 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09046 or trades above daily pivot 1.08732. Break above could target R1 at 1.08924. While to the downside, we are looking at 1.08418 (S1) and daily low of 1.08540 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.08540 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 | 1.0943 |
| R2 | 1.09238 |
| R1 | 1.08924 |
| Daily Pivot | 1.08732 |
| S1 | 1.08418 |
| S2 | 1.08226 |
| S3 | 1.07912 |
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