Dear ,
As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.
EURUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.17% | 18.5 Pips |  |
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| Week to-date | -0.07% | -8.1 Pips |  |
||
| August | -1.22% | -133.8 Pips | |
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Upcoming key events (London Time)
Thu 01:30 PM USD Initial Unemployment Insurance Claims
Thu 03:00 PM USD Jackson Hole Symposium
Fri 03:05 PM USD Federal Reserve Chair Jerome Powell speech
What happened lately
Euro Area Consumer Confidence in August preliminary estimate exceed forecast and dropped to -16 points compared to previous figure -15.1 points in July
U.S. Existing-Home Sales Change (1-mth) in July below forecast and improved to -2.2% compared to previous figure -3.3% in June
What can we expect from EURUSD today?
EURUSD on Wednesday rose 0.17% to 1.08630. Price is below 9-Day EMA while Stochastic is rising in oversold zone.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08188 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08715 or trades above daily pivot 1.08452. While to the downside, the daily low of 1.08010 and 1.08188 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.08715 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 | 1.09598 |
| R2 | 1.09157 |
| R1 | 1.08893 |
| Daily Pivot | 1.08452 |
| S1 | 1.08188 |
| S2 | 1.07747 |
| S3 | 1.07483 |
