EURUSD on Thursday rose 0.16% to 1.10996. 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	0.16%	18 Pips
Week to-date	-0.79%	-88.3 Pips
September	0.17%	19.2 Pips

Upcoming key events (London Time)

  Fri 10:00 AM EUR GDP (seasonally adjusted) (3-mth)
  Fri 10:00 AM EUR GDP (seasonally adjusted) (12-mth)
  Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

  U.S. Unit Labor Costs in Q2 decreased to 0.4% from 0.9% in Q1. Source: Bureau of Labor Statistics
  U.S. Nonfarm Business Labor Productivity in Q2 rose to 2.5%, up from 2.3% in Q1. Source: Bureau of Labor Statistics
  In the week ending 31 August, U.S. Initial Unemployment Insurance Claims dropped to 227K compared to previous figure 231K Source: Department of Labor
  Euro Area Retail Trade Turnover (12-mth) in July improved to -0.1%, compared to the previous figure of -0.4% revised from -0.3% in June. Source: Eurostat
  Euro Area Retail Trade Turnover (1-mth) in July rose to 0.1% compared to a revised -0.4% figure from -0.3% in June. Source: Eurostat
 Germany’s factory orders, not seasonally adjusted, rose to 3.7% in July from the previous figure of -11.8% in June.
  Germany’s seasonally adjusted factory orders in July decreased to 2.9% from the previous figure of 3.9% in June.
 Germany’s seasonally adjusted factory orders decreased to 2.9% in July, down from the previous figure of 3.9% in June.
  U.S. Factory Orders (1-mth) in July rose to 5%, compared to the previous figure of -3.3% in June. Source: Census Bureau
  U.S. Job Openings and Labor Turnover Survey (JOLTS) in July dropped to 7.673M, compared to the previous figure of 7.91M revised from 8.184M in June. Source: Bureau of Labor Statistics
  Euro Area Producer Price Index (12-mth) in July improved to -2.1% compared to the revised June figure of -3.3%. Source: Eurostat
  Euro Area Producer Price Index (1-mth) in July rose to 0.8%, compared to the revised figure of 0.6% for June. Source: Eurostat

What can we expect from EURUSD today?

EURUSD on Thursday rose 0.16% to 1.10996. 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 1.11086 with break above could target R2 at 1.11176 or figure level area. While towards the downside, we are looking at daily low of 1.10744 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.11005 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: