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 | 0.09% | 9.1 Pips |  |
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| Week 2024-04-19 | 0.13% | 14.1 Pips | |
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| April | -1.27% | -137.4 Pips |  |
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Upcoming key events for the new week (London Time)
Thu 01:30 PM Initial Unemployment Insurance Claims
Thu 01:30 PM GDP Annualized
Fri 01:30 PM Personal Consumption Expenditures Price Index (1-mth)
Fri 01:30 PM Personal Consumption Expenditures Price Index (12-mth)
What happened over the week
🇩🇪 Germany Producer Price Index (1-mth) in March rose to 0.2% compared to previous figure -0.4% in February Source: Federal Statistical Office (Destatis)
🇺🇸 In the week ending 13 April, Initial Unemployment Insurance Claims in U.S. was unchanged at 212K compared to previous figure 212K (revised from 211K) Source: Department of Labor
🇪🇺 Euro Area Core Harmonised Index of Consumer Prices (HICP) (12-mth) in March unchanged at 2.9% compared to previous report in February. Source: Eurostat
🇪🇺 Euro Area Harmonized Index of Consumer Prices (HICP) (1-mth) in March unchanged at 0.8% compared to previous report in February. Source: Eurostat
🇩🇪 Germany ZEW Survey – Economic Situation (Germany) in April improved to -79.2 points compared to previous figure -80.5 points in March Source: ZEW
🇺🇸 U.S. Monthly Retail Trade (1-mth) in March dropped to 0.7% compared to previous figure 0.9, revised from 0.6% in February Source: Census Bureau
What can we expect from EURUSD for the new week and what happened on Friday?
EURUSD on Friday rose 0.09% to 1.06526. Price is below 9-Day EMA while Stochastic is rising. For the week ending 2024-04-19, the pair rose 0.13% or 14.1 pips higher.
Looking ahead on Monday, EURUSD looks mixed as the pair is likely to consolidate above week low of 1.06010.
For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 1.06900 or at least consolidates above Weekly Pivot level of 1.06479. On the downside, we are looking at week low 1.06010 or 1.06057 (WS1) as immediate support level. EURUSD need to break on either side to indicate a short-term bias. A break above 1.06900 would suggest bullish bias after recent positive movement.
For the month of April, EURUSD is down by -1.27% or -137.4 pips lower.
Weekly key levels to watch out:
| R3 | 1.07837 |
| R2 | 1.07369 |
| R1 | 1.06947 |
| Weekly Pivot | 1.06479 |
| S1 | 1.06057 |
| S2 | 1.05589 |
| S3 | 1.05167 |
