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% | -2.6 Pips |  |
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| Week to-date | 0.01% | 1.1 Pips |  |
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| September | -1.67% | -180.8 Pips | |
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Upcoming key events (London Time)
Fri 08:30 AM EUR HCOB Composite PMI
Fri 09:00 AM EUR HCOB Eurozone Composite PMI
What happened lately
Euro Area Consumer Confidence in September preliminary estimate exceed forecast and dropped to -17.8 points compared to previous figure -16 points in August DG ECFIN
U.S. Existing-Home Sales Change (1-mth) in August below forecast and improved to -0.7% compared to previous figure -2.2% in July
U.S. Philadelphia Fed Manufacturing Survey in September exceed forecast and dropped to -13.5 points compared to previous figure 12 points in August
In the week ending 16 September, U.S. Initial Unemployment Insurance Claims dropped to 201K compared to previous figure 221K (revised from 220K) Department of Labor
U.S. Interest Rate Projections – Longer unchanged at 2.5% compared to previous rate 2.5%
U.S. Interest Rate Projections unchanged at 5.6% compared to previous rate 5.6%
U.S. Interest Rate Projections – 3rd year dropped to 2.9% compared to previous rate 3.1%
U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Federal Reserve
U.S. Interest Rate Projections – 1st year rose to 5.1% compared to previous rate 4.6%
Germany Producer Price Index (12-mth) in August below forecast and dropped to -12.6% compared to previous figure -6% in July
What can we expect from EURUSD today?
EURUSD on Thursday dropped -0.02% to 1.06607. Price is below 9-Day EMA while Stochastic is rising in oversold zone.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.0627 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.06735 or trades above daily pivot 1.06502. Break above could target R1 at 1.0684. While to the downside, we are looking at 1.0627 (S1) and daily low of 1.06165 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.06165 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 | 1.0741 |
| R2 | 1.07072 |
| R1 | 1.0684 |
| Daily Pivot | 1.06502 |
| S1 | 1.0627 |
| S2 | 1.05932 |
| S3 | 1.057 |
