As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.
|Performance after Wednesday|
|Week to-date||-0.62%||-65.9 Pips|
Upcoming key events (London Time)
Thu 01:30 PM USD Initial Unemployment Insurance Claims
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
U.S. Factory Orders (1-mth) in August exceed forecast and rose to 1.2% compared to previous figure -2.1% in July
Euro Area Producer Price Index (1-mth) in August rose to 0.6% compared to previous figure -0.5% in July
Euro Area Retail Trade Turnover (1-mth) in August exceed forecast and dropped to -1.2% compared to previous figure -0.1, revised from -0.2% in July
U.S. Job Openings and Labor Turnover Survey (JOLTS) in August exceed forecast and rose to 9.61M compared to previous figure 8.92, revised from 8.827M in July
What can we expect from EURUSD today?
EURUSD on Wednesday rose 0.39% to 1.05050. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
Updated daily direction for EURUSD looks bullish as the pair ended higher after Wednesday trading session.
Looking ahead for the day, immediate upside resistance level is at 1.05411 (R1) while on the downside, we are looking at daily low of 1.04510 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.05321 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: