• Thu. Apr 18th, 2024

๐Ÿ‡ช๐Ÿ‡บ ๐Ÿ‡บ๐Ÿ‡ธ EURUSD on Thursday rose 0.69% to 1.07597. What we know.


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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 0.69% 74.1 Pips
Week to-date 0.34% 36.1 Pips
June 0.71% 75.5 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

In the week ending 27 May, the Initial Unemployment Insurance Claims rose to 232K compared to previous figure 229K
Nonfarm Business Labor Productivity in Q1 below forecast and improved to -2.1% compared to previous figure -2.7% in Q4
U.S. ADP Non-Farm Employment Change in May dropped to 278K compared to previous figure 291K (revised from 296K)
Harmonised Index of Consumer Prices (HICP) (12-mth) in May below forecast and dropped to 6.1% compared to previous figure 7% in April
Euro Area Unemployment Rate in April dropped to 6.5% compared to previous figure 6.6% (revised from 6.5%)
Retail Trade Turnover (12-mth) in April below forecast and improved to -4.3% compared to previous figure -8.6% in March

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Thursdayย roseย 0.69% to 1.07597. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for EURUSD looks bullish as the pair ended higher after Thursday trading session.

Looking ahead for the day, immediate upside resistance level is at 1.07984 (R1) while on the downside, we are looking at daily low of 1.06610 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.07684 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 1.09058
R2 1.08371
R1 1.07984
Daily Pivot 1.07297
S1 1.0691
S2 1.06223
S3 1.05836


On Key

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