As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.
Upcoming key events (London Time)
Fri 10:00 AM EUR Retail Trade Turnover (12-mth)
What happened lately
U.S. Factory Orders (1-mth) in June exceed forecast and rose to 2.3% compared to previous figure 0.4, revised from 0.3% in May
EURUSD Chart by TradingView
What can we expect from EURUSD today?
EURUSD on Thursday rose 0.12% to 1.09507. 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 1.09202 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09629 or trades above daily pivot 1.09415. While to the downside, the daily low of 1.09110 and 1.09202 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.09629 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: