EURUSD on Thursday rose 0.07% to 1.08486. What we know.

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	0.07%	7.3 Pips
Week to-date	-0.46%	-50.6 Pips
July	1.06%	113.3 Pips

Upcoming key events (London Time)

  Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)
  Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)

What happened lately

 🇺🇸 U.S. GDP annual rate in the Q2 flash estimate rose to 2.8%, compared to the previous figure of 1.4% in Q1. Source: Bureau of Economic Analysis
 🇺🇸 U.S. Durable Goods – New Orders in June dropped to -6.6% from 0.1% in May. Source: Census Bureau
 🇺🇸 U.S. Durable Goods Orders excluding Transportation rose to 0.5% in June compared to -0.1% in May. Source: Census Bureau
 🇺🇸 In the week ending 20 July, U.S. Initial Unemployment Insurance Claims dropped to 235K compared to previous figure 245K (revised from 243K) Source: Department of Labor
 🇺🇸 U.S. New-Home Sales Change (1-mth) in June improved to -0.6% from a revised -14.9% in May.
 Germany’s Gfk Consumer Confidence Survey in August improved to -18.4 points from a revised -21.6 points in July. Source: GfK

What can we expect from EURUSD today?

EURUSD on Thursday rose 0.07% to 1.08486. Price is below 9-Day EMA while Stochastic is falling.

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 1.08699 with break above could target R2 at 1.08911 or figure level area. While towards the downside, we are looking at daily low of 1.08278 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.08701 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.46%.

Key levels to watch out: