• Fri. Sep 22nd, 2023

๐Ÿ‡ช๐Ÿ‡บ ๐Ÿ‡บ๐Ÿ‡ธ EURUSD on Thursday rose 0.12% to 1.09507. Pair in consolidation. What we know.

Dearย ,

As requested, letโ€™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 0.12% 12.6 Pips
Week to-date -0.58% -64 Pips
August -0.42% -46.1 Pips

Upcoming key events (London Time)

ย ย Fri 10:00 AM EUR Retail Trade Turnover (12-mth)
ย ย Fri 01:30 PM USD Average Hourly Earnings (12-mth)
ย ย Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

ย ๐Ÿ‡บ๐Ÿ‡ธย 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
ย ๐Ÿ‡บ๐Ÿ‡ธย U.S. Nonfarm Business Labor Productivity in Q2 preliminary estimate rose to 3.7% compared to previous figure -1.2% (revised from -2.1%)
ย ๐Ÿ‡ช๐Ÿ‡บย Euro Area Producer Price Index (1-mth) in June exceed forecast and improved to -0.4% compared to previous figure -1.9% in May
ย ๐Ÿ‡ฉ๐Ÿ‡ชย Germany Trade Balance seasonal adjustment. in June rose to 18.7โ‚ฌ compared to previous figure 14.6โ‚ฌ (revised from 14.4โ‚ฌ)
ย ๐Ÿ‡บ๐Ÿ‡ธย U.S. ADP Non-Farm Employment Change in July exceed forecast and dropped to 324K compared to previous figure 497K in June

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Thursdayย roseย 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:

R3 1.1024
R2 1.09934
R1 1.09721
Daily Pivot 1.09415
S1 1.09202
S2 1.08896
S3 1.08683

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