EURUSD Analysis
| Performance after Thursday | |||
| Period | Pct | Chg | Momentum |
| Thursday | 0.09% | 10.0 Pips | ▲ |
| Week to-date | -1.07% | -124.0 Pips | ▼ |
| September | -1.22% | -142.0 Pips | ▼ |
Upcoming key events (GMT+8)
No major events for the day.
What happened lately
The EURUSD currency pair experienced a modest increase on Thursday, rising by 0.09% to close at 1.14740. The trading session saw the pair reach a high of 1.14970 and a low of 1.14500, indicating a period of consolidation.
The recent price movement comes on the heels of the Federal Reserve’s interest rate decision, which was announced at 02:00 GMT+8. The Federal Funds Rate was set at 4, aligning with market consensus and marking an increase from the previous rate of 3.75. Additionally, the Fed’s interest rate projections were released, showing an actual figure of 4.1, up from the previous projection of 3.8. These announcements are considered high-impact events, but their direct influence on the EURUSD pair’s movement remains unclear from the data provided.
No major economic events are scheduled for the immediate future, leaving the market without significant upcoming catalysts. As a result, traders may continue to focus on the implications of the recent Fed announcements and any potential shifts in market sentiment.
Overall, the EURUSD market appears to be in a state of consolidation, with traders potentially assessing the impact of the Fed’s interest rate decision and projections. The lack of immediate upcoming events suggests that the pair may continue to trade within a range as market participants digest recent developments.
What can we expect from EURUSD today?
The EURUSD pair is showing a mixed outlook today, with a slight daily performance increase of 0.09%, closing at 1.14740. Traders are closely watching the pair’s movement as it remains below the 9-day EMA, indicating potential volatility.
📈 Bull Scenario In a bullish scenario, if the EURUSD breaks above the daily high of 1.14970, it could target the first resistance level at 1.14973. A further push could see the pair testing the second resistance level at 1.15207, especially if the rising stochastic in the oversold zone supports upward momentum. | 📉 Bear Scenario Conversely, a bearish move might be triggered if the EURUSD falls below the daily pivot of 1.14737, with initial support found at 1.14503. Should selling pressure intensify, the pair could test the second support level at 1.14267, aligning with the overall bearish weekly outlook. |
Key levels to watch out:
| R3 | 1.15443 |
| R2 | 1.15207 |
| R1 | 1.14973 |
| Daily Pivot | 1.14737 |
| S1 | 1.14503 |
| S2 | 1.14267 |
| S3 | 1.14033 |