• Sat. Feb 24th, 2024

🇪🇺 🇺🇸 EURUSD on Thursday dropped -0.58% to 1.07760. Winners and losers.

As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.

 

 

 

EURUSD Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday -0.58% -63 Pips
Week to-date -0.65% -71 Pips
May -2.16% -238 Pips

Upcoming key events (London Time)

Fri 04:00 PM USD Federal Reserve Chair Jerome Powell speech

What happened lately

Philadelphia Fed Manufacturing Survey in May below forecast and improved to -10.4 points compared to previous figure -31.3 points in April
USD Building Permits (1-mth) in April dropped to 1.416M compared to previous figure 1.437M (revised from 1.413M).
Harmonized Index of Consumer Prices (HICP) (1-mth) in April below forecast and dropped to 0.6% compared to previous figure 0.7% in March

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Thursday dropped -0.58% to 1.07760. 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 1.0742 (S1) with break below could see further selling pressure towards 1.0708 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.08480 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.07610 would indicate selling pressure.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.65%.

Key levels to watch out:

R3 1.0916
R2 1.0882
R1 1.0829
Daily Pivot 1.0795
S1 1.0742
S2 1.0708
S3 1.0655
As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.

 

 

 

EURUSD Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday -0.58% -63 Pips
Week to-date -0.65% -71 Pips
May -2.16% -238 Pips

Upcoming key events (London Time)

Fri 04:00 PM USD Federal Reserve Chair Jerome Powell speech

What happened lately

Philadelphia Fed Manufacturing Survey in May below forecast and improved to -10.4 points compared to previous figure -31.3 points in April
USD Building Permits (1-mth) in April dropped to 1.416M compared to previous figure 1.437M (revised from 1.413M).
Harmonized Index of Consumer Prices (HICP) (1-mth) in April below forecast and dropped to 0.6% compared to previous figure 0.7% in March

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Thursday dropped -0.58% to 1.07760. 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 1.0742 (S1) with break below could see further selling pressure towards 1.0708 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.08480 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.07610 would indicate selling pressure.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.65%.

Key levels to watch out:

R3 1.0916
R2 1.0882
R1 1.0829
Daily Pivot 1.0795
S1 1.0742
S2 1.0708
S3 1.0655

 

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