• Sat. Jun 15th, 2024

EURUSD on Thursday dropped -0.1% to 1.08129. 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 -0.1% -10.4 Pips
Week to-date -0.58% -62.6 Pips
May 1.37% 146.4 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

 🇺🇸 U.S. New-Home Sales Change (1-mth) in April dropped to -4.7% compared to previous figure 5.4, revised from 8.8% in March
 🇺🇸 In the week ending 18 May, U.S. Initial Unemployment Insurance Claims dropped to 215K compared to previous figure 223K (revised from 222K) Source: Department of Labor

What can we expect from EURUSD today?

EURUSD on Thursday dropped -0.1% to 1.08129. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at S1 1.07913 with break below could see further selling pressure towards S2 at 1.07696. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.08610 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.08045 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 1.09043
R2 1.08826
R1 1.08478
Daily Pivot 1.08261
S1 1.07913
S2 1.07696
S3 1.07348
On Key

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