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% | 2.5 Pips |  |
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| Week to-date | 0.33% | 35.7 Pips |  |
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| January | -0.57% | -62.5 Pips |  |
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Upcoming key events (London Time)
Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)
What happened lately
U.S. CPI Inflation Rate (12-mth) in December exceed forecast and rose to 3.4% compared to previous figure 3.1% in November Source: Bureau of Labor Statistics
U.S. CPI Inflation Rate (1-mth) in December exceed forecast and rose to 0.3% compared to previous figure 0.1% in November Source: Bureau of Labor Statistics
In the week ending 06 January, U.S. Initial Unemployment Insurance Claims dropped to 202K compared to previous figure 203K (revised from 202K) Source: Department of Labor
What can we expect from EURUSD today?
EURUSD on Thursday rose 0.02% to 1.09749. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for EURUSD looks bullish as the pair ended higher after Thursday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.10065 with break above could target R2 at 1.10382 or figure level area. While towards the downside, we are looking at daily low of 1.09300 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.09999 may suggest continuation after recent positive movement.
For the week to-date, take note that EURUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.10764 |
| R2 | 1.10382 |
| R1 | 1.10065 |
| Daily Pivot | 1.09683 |
| S1 | 1.09366 |
| S2 | 1.08984 |
| S3 | 1.08667 |
