EURUSD on Monday dropped -0.14% to 1.05708. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Monday
Monday-0.14%-14.9 Pips
Week to-date-0.14%-14.9 Pips
October0%-0.1 Pips

Upcoming key events (London Time)

Tue 01:00 PM EUR European Central Bank’s President Christine Lagarde speech
Wed 07:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)
Wed 01:30 PM USD Producer Price Index (12-mth)
Wed 07:00 PM USD FOMC Meeting Minutes

What happened lately

🇪🇺 Euro Area Sentix Investor Confidence in October below forecast and dropped to -21.9 points compared to previous figure -21.5 points in September
🇩🇪 Germany Industrial Production n.seasonal adjustment. w.d.a. (12-mth) in August dropped to -2% compared to previous figure -1.7% (revised from -2.1%)


What can we expect from EURUSD today?

EURUSD on Monday dropped -0.14% to 1.05708. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.05352 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.05744 or trades above daily pivot 1.05548. Break above could target R1 at 1.05904. While to the downside, we are looking at 1.05352 (S1) and daily low of 1.05192 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.05192 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:

Daily Pivot1.05548

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