• Sun. Jul 14th, 2024

EURUSD on Thursday dropped -0.02% to 1.05641. Pair in consolidation. What we know.

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Dear ,

As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.

EURUSD Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday -0.02% -2.3 Pips
Week to-date -0.24% -25.9 Pips
October 0.02% 1.6 Pips

Upcoming key events (London Time)

  Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)
  Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)

What happened lately

 🇺🇸 U.S. Durable Goods Orders excluding Defense in September rose to 5.8% compared to previous figure -0.7% in August Census Bureau
 🇺🇸 U.S. Personal Consumption Expenditures Prices (3-mth) in Q3 preliminary estimate exceed forecast and rose to 2.9% compared to previous figure 2.5% in Q2 Bureau of Economic Analysis
 🇺🇸 In the week ending 21 October, U.S. Initial Unemployment Insurance Claims rose to 210K compared to previous figure 198K Department of Labor
 🇺🇸 U.S. GDP Annualized in Q3 preliminary estimate exceed forecast and rose to 4.9% compared to previous figure 2.1% in Q2 Bureau of Economic Analysis
 🇪🇺 Euro Area ECB Interest Rate on main refinancing operations (MRO) unchanged at 4.5% compared to previous rate 4.5% European Central Bank
 🇩🇪 Germany ifo Current Assessment in October exceed forecast and rose to 89.2 points compared to previous figure 88.7 points in September ifo Institute

EURUSD 4-hour Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Thursday dropped -0.02% to 1.05641. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.05342 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.05691 or trades above daily pivot 1.05517. Break above could target R1 at 1.05815. While to the downside, we are looking at 1.05342 (S1) and daily low of 1.05218 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.05218 would indicate selling pressure.

For the week to-date, take note that EURUSD is mixed as compared to the prior week.

Key levels to watch out:

R3 1.06288
R2 1.0599
R1 1.05815
Daily Pivot 1.05517
S1 1.05342
S2 1.05044
S3 1.04869
On Key

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