EURUSD on Wednesday rose 0.12% to 1.08207. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Wednesday
Wednesday0.12%13.1 Pips
Week to-date0.43%45.8 Pips
February0.02%2.7 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇪🇺 Euro Area Consumer Confidence in February flash estimate improved to -15.5 points compared to previous figure -16.1 points in January Source: DG ECFIN

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What can we expect from EURUSD today?

EURUSD on Wednesday rose 0.12% to 1.08207. 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 1.07988 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08245 or trades above daily pivot 1.08116. Break above could target R1 at 1.08336. While to the downside, we are looking at 1.07988 (S1) and daily low of 1.07897 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.08245 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 0.43% over the past few days.

Key levels to watch out:

Daily Pivot1.08116

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