EURUSD Analysis
| Performance after Wednesday | |||
| Period | Pct | Chg | Momentum |
| Wednesday | -0.93% | -108.0 Pips | ▼ |
| Week to-date | -0.6% | -69.0 Pips | ▼ |
| June | -1.37% | -160.0 Pips | ▼ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Fri 01:00 PM | USD | NONE | Juneteenth Freedom Day |
What happened lately
The EURUSD pair experienced a significant decline on Wednesday, dropping by 0.93% to close at 1.14990. The trading session saw the currency pair reach a high of 1.16160 and a low of 1.14770.
The movement in the EURUSD was influenced by the latest economic data from the United States. The Monthly Retail Trade figures, released at 20:30 GMT+8, showed an actual increase of 0.9%, surpassing the consensus expectation of 0.5% and the previous month’s figure of 0.5%. This stronger-than-expected retail sales data likely contributed to the strengthening of the US dollar, putting downward pressure on the EURUSD exchange rate.
Looking ahead, there are no significant economic events scheduled that could directly impact the EURUSD pair. The upcoming Juneteenth Freedom Day, observed on Friday at 01:00 PM GMT+8, is noted as having no impact on the currency markets.
Overall, the market sentiment appears to be influenced by the robust US retail sales data, which has bolstered confidence in the US economy and supported the dollar’s strength. This has led to a notable depreciation of the euro against the dollar, as reflected in the day’s trading activity.
What can we expect from EURUSD today?
The EURUSD pair closed at 1.14990 on Tuesday, marking a daily decline of 0.93%. The pair’s outlook remains bearish as it continues to trade below the 9-day EMA.
📈 Bull Scenario A bullish scenario for EURUSD could emerge if the pair manages to break above the daily pivot point of 1.15307. Further upward momentum could target the first resistance level at 1.15843, with an extended rally potentially reaching the second resistance level at 1.16697. | 📉 Bear Scenario On the downside, continued bearish pressure may see EURUSD testing the first support level at 1.14453. A break below this level could lead to further declines, with the second support level at 1.13917 coming into focus. |
Key levels to watch out:
| R3 | 1.17233 |
| R2 | 1.16697 |
| R1 | 1.15843 |
| Daily Pivot | 1.15307 |
| S1 | 1.14453 |
| S2 | 1.13917 |
| S3 | 1.13063 |