As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.
Upcoming key events (London Time)
No further events
What happened lately
Euro Area Employment Change (3-mth) in Q2 unchanged at 0.2% compared to previous report in Q1. The actual figure is also in line with the forecast
EURUSD Chart by TradingView
What can we expect from EURUSD today?
EURUSD on Thursday dropped -0.25% to 1.06960. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
Updated daily direction for EURUSD looks bearish as the pair posted lower in Thursday trading session.
Looking ahead for the day, immediate support level is at 1.06773 (S1) with break below could see further selling pressure towards 1.06587 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.07320 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.06860 would indicate selling pressure.For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.72%.
Key levels to watch out: