EURUSD Chart by TradingView
What can we expect from EURUSD for the new week and what happened on Friday?
EURUSD on Friday dropped -0.15% to 1.09014. Price is above 9-Day EMA while Stochastic is rising. For the week ending 2023-04-07, the pair rose 0.58% or 63.3 pips higher.
Looking ahead on Monday, EURUSD looks mixed as the pair is likely to consolidate above week low of 1.07870.
For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 1.09733 or at least consolidates above Weekly Pivot level of 1.08872. On the downside, we are looking at week low 1.07870 or 1.08012 (WS1) as immediate support level. EURUSD need to break on either side to indicate a short-term bias. A break above 1.09733 would suggest bullish bias after recent positive movement.
For the month of April, EURUSD is up by 0.58% or 63.3 pips higher.
Weekly key levels to watch out:
You might also be interested in:
NFP rose by 236,000 in March, and the unemployment rate changed little at 3.5% Source: Bureau of Labor Statistics Publications
The all employees-revised index of hourly labour cost – (ICHTrev-TS) Source: INSEE
In Q4 2022, payroll employment increased in two-thirds of the regions and was almost stable in the others Source: INSEE
Household saving rate up to 14.1% in the euro area Source: Eurostat
EU current account surplus €10.5 bn Source: Eurostat
U.S. International Trade in Goods and Services, February 2023 Source: Bureau of Economic Analysis
Philip R. Lane: Monetary policy and inflation Source: European Central Bank
U.S. International Trade in Goods and Services Source: Census Bureau
Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau
In February 2023, manufacturing output bounced back (+1.3%) Source: INSEE
February job openings and layoffs and discharges decrease; quits edge up Source: Bureau of Labor Statistics Publications
Industrial producer prices down by 0.5% in the euro area and by 0.6% in the EU Source: Eurostat
House prices up by 2.9% in the euro area Source: Eurostat
Construction Spending Source: Census Bureau
Inflation rate expected in March 2023 +7.4% Source: Statistisches Bundesamt (Destatis)