Dear ,
As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.
EURUSD Analysis
Upcoming key events (London Time)
What happened lately
EURUSD Chart by TradingView
What can we expect from EURUSD today? EURUSD on Wednesday dropped -0.66% to 1.09451. Price is below 9-Day EMA while Stochastic is falling in oversold zone. Updated daily direction for EURUSD looks bearish as the pair posted lower in Wednesday trading session. Looking ahead for the day, immediate support level is at 1.09039 (S1) with break below could see further selling pressure towards 1.08626 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.10126 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.09170 would indicate selling pressure.For the week to-date, take note that EURUSD is mixed as compared to prior week. Key levels to watch out:
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Thu 08:55 AM EUR HCOB Composite PMI
Thu 01:30 PM USD Initial Unemployment Insurance Claims
U.S. ADP Non-Farm Employment Change in July exceed forecast and dropped to 324K compared to previous figure 497K in June
Euro Area Unemployment Rate in June unchanged at 6.4% compared to previous report in May.
Germany Unemployment Change in June below forecast and dropped to -4K compared to previous figure 28K in May
