• Sat. Jul 20th, 2024

🇪🇺 🇺🇸 EURUSD on Thursday rose 0.08% to 1.09844. Pair in consolidation. What we know.


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Dear ,

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 0.08% 8.5 Pips
Week to-date -0.21% -22.8 Pips
August -0.11% -12.4 Pips

Upcoming key events (London Time)

  Fri 01:30 PM USD Producer Price Index excluding Food and Energy sectors (12-mth)
  Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

 🇺🇸 In the week ending 05 August, U.S. Initial Unemployment Insurance Claims rose to 248K compared to previous figure 227K
 🇺🇸 U.S. CPI Inflation Rate (12-mth) in July below forecast and rose to 3.2% compared to previous figure 3% in June
 🇺🇸 U.S. CPI Inflation Rate (1-mth) in July unchanged at 0.2% compared to previous report in June. The actual figure is also in line with the forecast

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Thursday rose 0.08% to 1.09844. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09452 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.10652 or trades above daily pivot 1.10052. While to the downside, the daily low of 1.09660 and 1.09452 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.10652 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is mixed as compared to prior week.

Key levels to watch out:

R3 1.11436
R2 1.11044
R1 1.10444
Daily Pivot 1.10052
S1 1.09452
S2 1.0906
S3 1.0846


On Key

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