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
In the week ending 12 August, U.S. Initial Unemployment Insurance Claims dropped to 239K compared to previous figure 250K (revised upward from 248K)
EURUSD Chart by TradingView
What can we expect from EURUSD today?
EURUSD on Thursday rose 0.03% to 1.08731. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08467 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09182 or trades above daily pivot 1.08824. While to the downside, the daily low of 1.08560 and 1.08467 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.09182 may suggest continuation after recent positive movement.For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.64%.
Key levels to watch out: