EURUSD Analysis
| Performance after Monday | |||
| Period | Pct | Chg | Momentum |
| Monday | -0.17% | -20.0 Pips | ▼ |
| Week to-date | 1.41% | 160.0 Pips | ▲ |
| August | 0.93% | 106.0 Pips | ▲ |
Upcoming key events (GMT+8)
No major events for the day.
What happened lately
EURUSD experienced a slight decline on Monday, falling by 0.17% to close at 1.15070. The currency pair traded within a range, reaching a high of 1.15580 and a low of 1.14990, indicating a period of consolidation.
The recent movement in EURUSD coincided with the release of the Eurozone’s Retail Trade Turnover data. The report showed a decrease of 0.2% for the 12-month period, compared to the previous increase of 1.8%. This data release may have contributed to the subdued performance of the euro against the US dollar, as it suggests a potential slowdown in consumer spending within the Eurozone.
Looking ahead, there are no major economic events scheduled that could significantly impact the EURUSD pair in the immediate future. As such, traders may continue to focus on technical levels and any developments in market sentiment.
Overall, the market sentiment for EURUSD appears cautious, with the pair consolidating as traders digest the recent economic data. The lack of upcoming major events may lead to continued range-bound trading in the near term, as participants await further economic indicators to provide clearer direction.
What can we expect from EURUSD today?
The EURUSD pair closed down by 0.17% on Monday, ending the session at 1.15070. The daily outlook remains mixed, with the price trading above the 9-day EMA, while the stochastic indicator is falling within the overbought zone.
📈 Bull Scenario A bullish scenario for EURUSD could be triggered if the pair manages to break above the daily pivot point at 1.15213. In this case, traders should watch for resistance at R1, 1.15437, and further gains could see the pair testing R2 at 1.15803. The weekly outlook remains bullish, which may support upward momentum. | 📉 Bear Scenario On the downside, a bearish move could occur if EURUSD falls below the support level at S1, 1.14847. Should this level be breached, the next support to monitor would be S2 at 1.14623. The stochastic indicator’s position in the overbought zone suggests potential for further downward pressure. |
Key levels to watch out:
| R3 | 1.16027 |
| R2 | 1.15803 |
| R1 | 1.15437 |
| Daily Pivot | 1.15213 |
| S1 | 1.14847 |
| S2 | 1.14623 |
| S3 | 1.14257 |