• Wed. Jul 24th, 2024

🇪🇺 🇺🇸 EURUSD on Thursday rose 1.08% to 1.09486. 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 1.08% 117.5 Pips
Week to-date 1.89% 202.6 Pips
June 2.46% 263 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

In the week ending 10 June, Initial Unemployment Insurance Claims in U.S. was unchanged at 262K compared to previous figure 262K (revised from 261K)
U.S. Philadelphia Fed Manufacturing Survey in June below forecast and dropped to -13.7 points compared to previous figure -10.4 points in May
U.S. Monthly Retail Trade (1-mth) in May exceed forecast and dropped to 0.3% compared to previous figure 0.4, revised from 0.4% in April
Euro Area ECB Interest Rate on main refinancing operations (MRO) rose to 4% compared to previous rate 3.75%
U.S. Interest Rate Projections rose to 5.6% compared to previous rate 5.1%
U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.25% compared to previous rate 5.25%
Euro Area Industrial Production seasonal adjustment. (1-mth) in April exceed forecast and rose to 1% compared to previous figure -3.8, revised from -4.1% in March

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Thursday rose 1.08% to 1.09486. 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 1.10002 (R1) while on the downside, we are looking at daily low of 1.08020 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.09527 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 1.89% over the past few days.

Key levels to watch out:

R3 1.11509
R2 1.10518
R1 1.10002
Daily Pivot 1.09011
S1 1.08495
S2 1.07504
S3 1.06988


On Key

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