Eurusd declines by 0.29% to 1.16770 on Wednesday
EURUSD Analysis
| Performance after Wednesday | |||
| Period | Pct | Chg | Momentum |
| Wednesday | -0.2903% | -34.0 Pips | ▼ |
| Week to-date | -0.3669% | -43.0 Pips | ▼ |
| April | 1.0821% | 125.0 Pips | ▲ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Thu 02:00 PM | EUR | HIGH | Retail Trade Turnover (12-mth) |
| Thu 04:00 PM | EUR | HIGH | GDP (3-mth) |
| Thu 04:00 PM | EUR | HIGH | GDP (12-mth) |
| Thu 05:00 PM | EUR | HIGH | Core Harmonized Index of Consumer Prices (HICP) (1-mth) |
| Thu 05:00 PM | EUR | HIGH | Core Harmonised Index of Consumer Prices (HICP) (12-mth) |
| Thu 05:00 PM | EUR | HIGH | GDP (seasonally adjusted) (3-mth) |
| Thu 05:00 PM | EUR | HIGH | GDP (seasonally adjusted) (12-mth) |
| Thu 05:00 PM | EUR | HIGH | Harmonized Index of Consumer Prices (HICP) (1-mth) |
| Thu 05:00 PM | EUR | HIGH | Harmonised Index of Consumer Prices (HICP) (12-mth) |
| Thu 08:15 PM | EUR | HIGH | ECB Interest Rate on main refinancing operations (MRO) |
| Thu 08:15 PM | EUR | HIGH | European Central Bank Monetary Policy Decision Statement |
| Thu 08:15 PM | EUR | HIGH | ECB Interest Rate on deposit facility |
| Thu 08:30 PM | USD | HIGH | PCE Price Index, excluding food and energy (1-mth) |
| Thu 08:30 PM | USD | HIGH | PCE Price Index, excluding food and energy (12-mth) |
| Thu 08:30 PM | USD | HIGH | GDP annual rate |
| Thu 08:30 PM | USD | HIGH | GDP Price Index (Quarterly) |
| Thu 08:45 PM | EUR | HIGH | ECB Monetary Policy Press Conference |
| Fri 06:00 AM | EUR | NONE | Labour Day |
What can we expect from EURUSD today?
As we move into Wednesday’s trading session, EURUSD continues to exhibit a bearish outlook, with a daily performance of -0.2903% and a close at 1.16770. The pair remains under pressure, as indicated by its position below the 9-day EMA and a weekly performance also in negative territory.
📈 Bull Scenario A bullish scenario for EURUSD could emerge if the pair manages to break above the immediate resistance level at 1.17114 (R1). Sustained buying pressure could propel the pair further towards the next resistance at 1.17457 (R2), potentially reversing the current bearish sentiment. | 📉 Bear Scenario Conversely, a bearish continuation is likely if EURUSD breaches the support level at 1.16514 (S1). A further decline could see the pair testing the next support at 1.16257 (S2), reinforcing the prevailing bearish outlook for both the daily and weekly timeframes. |
Key levels to watch out:
| R3 | 1.17714 |
| R2 | 1.17457 |
| R1 | 1.17114 |
| Daily Pivot | 1.16857 |
| S1 | 1.16514 |
| S2 | 1.16257 |
| S3 | 1.15914 |
