Dear ,
As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.
EURUSD Analysis
| Performance | |||||
| Period | Pct | Chg | Momentum | ||
| Friday | -0.19% | -20.5 Pips |  |
||
| Week 2023-12-29 | 0.25% | 27.8 Pips |  |
||
| December | 1.4% | 152.7 Pips |  |
||
Upcoming key events for the new week (London Time)
Wed 07:00 PM FOMC Meeting Minutes
Thu 01:00 PM Harmonised Index of Consumer Prices (HICP) (12-mth)
Thu 01:30 PM Initial Unemployment Insurance Claims
Fri 07:00 AM Retail Trade Turnover (12-mth)
Fri 10:00 AM Harmonised Index of Consumer Prices (HICP) (12-mth)
Fri 01:30 PM Average Hourly Earnings (12-mth)
Fri 01:30 PM Average Hourly Earnings (1-mth)
Fri 01:30 PM Nonfarm Payroll Employment
What happened over the week
🇺🇸 U.S. Housing Price Index (1-mth) in October below forecast and dropped to 0.3% compared to previous figure 0.7, revised from 0.6% in September
What can we expect from EURUSD for the new week and what happened on Friday?
EURUSD on Friday dropped -0.19% to 1.10388. Price is above 9-Day EMA while Stochastic is falling. For the week ending 2023-12-29, the pair rose 0.25% or 27.8 pips higher.
Looking ahead on Monday, EURUSD looks bearish as the pair posted lower in Friday trading session.
For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 1.11395 or at least consolidates above Weekly Pivot level of 1.10565. On the downside, we are looking at week low 1.09913 or 1.09736 (WS1) as immediate support level. EURUSD need to break on either side to indicate a short-term bias. A break above 1.11395 would suggest bullish bias after recent positive movement.
For the month of December, EURUSD is up by 1.4% or 152.7 pips higher.
Weekly key levels to watch out:
| R3 | 1.12700 |
| R2 | 1.12047 |
| R1 | 1.11218 |
| Weekly Pivot | 1.10565 |
| S1 | 1.09736 |
| S2 | 1.09083 |
| S3 | 1.08254 |
