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 | -0.15% | -16.2 Pips |  |
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| Week to-date | 0.91% | 97.6 Pips |  |
||
| May | 1.86% | 198 Pips |  |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Industrial Production (1-mth) in April dropped to 0% compared to previous figure 0.4% in March
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in May dropped to 4.5 points compared to previous figure 15.5 points in April
🇺🇸 U.S. CPI Inflation Rate (1-mth) in April dropped to 0.3% compared to previous figure 0.4% in March Source: Bureau of Labor Statistics
🇺🇸 U.S. Monthly Retail Trade (1-mth) in April dropped to 0% compared to previous figure 0.6, revised from 0.7% in March Source: Census Bureau
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in April dropped to 0.3% compared to previous figure 0.4% in March Source: Bureau of Labor Statistics
🇺🇸 U.S. New York Empire State Manufacturing Index in May dropped to -15.6 points compared to previous figure -14.3 points in April
🇪🇺 Euro Area Industrial Production seasonal adjustment. (1-mth) in March dropped to 0.6% compared to previous figure 1, revised from 0.8% in February
🇪🇺 Euro Area GDP (seasonally adjusted) (3-mth) in Q1 flash estimate unchanged at 0.3% compared to previous report in Q4. Source: Eurostat
🇪🇺 Euro Area Employment Change (3-mth) in Q1 flash estimate unchanged at 0.3% compared to previous report in Q4.
What can we expect from EURUSD today?
EURUSD on Thursday dropped -0.15% to 1.08670. Price is above 9-Day EMA while Stochastic is rising in overbought zone.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.0849 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08950 or trades above daily pivot 1.0872. Break above could target R1 at 1.089. While to the downside, we are looking at 1.0849 (S1) and daily low of 1.08540 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.08540 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 0.91% over the past few days.
Key levels to watch out:
| R3 | 1.0931 |
| R2 | 1.0913 |
| R1 | 1.089 |
| Daily Pivot | 1.0872 |
| S1 | 1.0849 |
| S2 | 1.0831 |
| S3 | 1.0808 |
