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 | -0.14% | -15.3 Pips | ![]() |
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Week to-date | 0.06% | 6.5 Pips | ![]() |
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August | 0.86% | 93.4 Pips | ![]() |
Upcoming key events (London Time)
No major events for the day.
What happened lately
In the week ending 03 August, U.S. Initial Unemployment Insurance Claims dropped to 233K compared to previous figure 250K (revised from 249K) Source: Department of Labor
Germany’s industrial production, not seasonally adjusted and working day adjusted (12-month), improved to -4.1% in June compared to the previous figure of -6.7% in May.
Germany’s seasonally adjusted industrial production increased to 1.4% in June, up from -2.5% in May.
Germany’s trade balance, adjusted for seasonal variations, dropped to €20.4 billion in June from the previous figure of €24.9 billion in May. Source: Destatis
What can we expect from EURUSD today?
EURUSD on Thursday dropped -0.14% to 1.09173. Price is above 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 1.0884 with break below could see further selling pressure towards S2 at 1.08506. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.09451 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.08812 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 | 1.10118 |
R2 | 1.09784 |
R1 | 1.09479 |
Daily Pivot | 1.09145 |
S1 | 1.0884 |
S2 | 1.08506 |
S3 | 1.08201 |