EURUSD on Monday rose 0.61% to 1.0608. Pair in consolidation. Things to look out.

EURUSD by TradingView

Performance after Monday
Period	Pct	Chg	Momentum
Monday	0.61%	64.5 Pips
Week to-date	0.61%	64.5 Pips
February	-2.34%	-254.4 Pips

Upcoming key events (London Time)

Wed 01:00 PM EUR Harmonized Index of Consumer Prices (YoY)
Wed 03:00 PM USD ISM Manufacturing PMI

What happened lately

📆 🇺🇸 USD Pending Home Sales (MoM) in January exceed forecast and rose to 8.1% compared to previous figure 1.1, revised from 2.5% in December. Source
📆 ☢️ 🇺🇸 USD Durable Goods Orders in January exceed forecast and dropped to -4.5% compared to previous figure 5.1, revised from 5.6% in December. Source
📆 🇪🇺 EUR Consumer Confidence in February unchanged at -19 points compared to previous report in January. The actual figure is also in line with the forecast. Source

What can we expect from EURUSD today?

EURUSD on Monday rose 0.61% to 1.0608. Price is below 9-Day EMA while Stochastic is rising but in oversold zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.05529 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.0620 or trades above daily pivot 1.05863 while to the downside, the daily low of 1.0531 and 1.05529 (S1) as key support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.0620 would suggest bullish bias after recent positive movement.

For the week to-date, take note that EURUSD is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

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Advance Monthly Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau

Last updated: 11:33 pm UTC, 27-Feb 2023

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