EURUSD on Thursday dropped -0.08% to 1.10307. Pair in consolidation. How it happened.

Upcoming key events (London Time)

Fri 09:00 AM EUR GDP (3-mth)
Fri 10:00 AM EUR GDP (seasonally adjusted) (3-mth)
Fri 10:00 AM EUR GDP (seasonally adjusted) (12-mth)
Fri 01:00 PM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)

What happened lately

USD Pending Home Sales (1-mth) in March rose to 0.8% compared to previous figure 0.8%.
Core Personal Consumption Expenditures (3-mth) in Q1 preliminary estimate exceed forecast and rose to 4.9% compared to previous figure 4.4% in Q4
GDP Annualized in Q1 preliminary estimate below forecast and dropped to 1.1% compared to previous figure 2.6% in Q4
In the week ending 22 April, the Initial Unemployment Insurance Claims dropped to 230K compared to previous figure 245K
Business Climate in April dropped to 0.54 points compared to previous figure 0.7 points in March
USD Durable Goods Orders excluding Transportation in March rose to 0.3% compared to previous figure -0.3% (revised from 0%).
Gfk Consumer Confidence Survey in May below forecast and improved to -25.7 points compared to previous figure -29.3, revised from -29.5 points in April

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Thursday dropped -0.08% to 1.10307. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09933 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.10635 or trades above daily pivot 1.10284. While to the downside, the daily low of 1.09910 and 1.09933 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.09910 would indicate selling pressure.

For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 0.39% over the past few days.

Key levels to watch out: