• Fri. Sep 29th, 2023

πŸ‡ͺπŸ‡Ί πŸ‡ΊπŸ‡Έ EURUSD on Thursday rose 0.86% to 1.12241. What we know.

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 0.86% 95.9 Pips
Week to-date 2.37% 260.1 Pips
July 2.9% 316.7 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

U.S. Producer Price Index ex Food & Energy (1-mth) in June unchanged at 0.1% compared to previous report in May.
Euro Area Industrial Production seasonal adjustment. (1-mth) in May below forecast and dropped to 0.2% compared to previous figure 1% in April
U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in June below forecast and dropped to 0.2% compared to previous figure 0.4% in May

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on ThursdayΒ roseΒ 0.86% to 1.12241. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

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 1.12598 (R1) while on the downside, we are looking at daily low of 1.11280 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.12296 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 2.37% over the past few days.

Key levels to watch out:

R3 1.13614
R2 1.12955
R1 1.12598
Daily Pivot 1.11939
S1 1.11582
S2 1.10923
S3 1.10566


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