• Wed. Jul 17th, 2024

EURUSD on Thursday rose 0.15% to 1.09049. Pair in consolidation. 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 0.15% 16.6 Pips
Week to-date -0.08% -8.9 Pips
November 3.13% 330.5 Pips

Upcoming key events (London Time)

  Fri 10:00 AM EUR European Central Bank’s President Christine Lagarde speech

What happened lately

 🇪🇺 Euro Area Consumer Confidence in November preliminary estimate unchanged at -17.9 points compared to previous report in October. DG ECFIN
 🇺🇸 U.S. Michigan Index of Consumer Sentiment in November exceed forecast and rose to 61.3 points compared to previous figure 60.4 points in October University of Michigan
 🇺🇸 U.S. UoM 5-year Consumer Inflation Expectation in November unchanged at 3.2% compared to previous report in October. The actual figure is also in line with the forecast University of Michigan
 🇺🇸 U.S. Durable Goods Orders in October exceed forecast and dropped to -5.4% compared to previous figure 4.6, revised from 4.7% in September Census Bureau

What can we expect from EURUSD today?

EURUSD on Thursday rose 0.15% to 1.09049. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08844 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09304 or trades above daily pivot 1.09074. Break above could target R1 at 1.09279. While to the downside, we are looking at 1.08844 (S1) and daily low of 1.08869 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.09304 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 1.09714
R2 1.09509
R1 1.09279
Daily Pivot 1.09074
S1 1.08844
S2 1.08639
S3 1.08409
On Key

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