• Sat. Jun 15th, 2024

EURUSD on Thursday rose 0.2% to 1.08920. 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 0.2% 21.8 Pips
Week to-date 0.43% 47 Pips
June 0.43% 47 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
  Fri 01:30 PM USD Average Hourly Earnings (12-mth)
  Fri 03:15 PM EUR European Central Bank’s President Christine Lagarde speech
  Sat 01:00 AM EUR European Parliament Election

What happened lately

 🇺🇸 U.S. Nonfarm Business Labor Productivity in Q1 dropped to 0.2% compared to previous figure 0.3% in Q4 Source: Bureau of Labor Statistics
 🇪🇺 Euro Area Retail Trade Turnover (12-mth) in April dropped to 0% compared to previous figure 0.7% in March Source: Eurostat
 🇩🇪 Germany Factory Orders n.seasonal adjustment. (12-mth) in April rose to -1.9% compared to previous figure -2.4% (revised from -1.9%)
 🇩🇪 Germany Factory Orders seasonal adjustment. (1-mth) in April rose to -0.2% compared to previous figure -0.8% (revised from -0.4%)
 🇪🇺 Euro Area Producer Price Index (12-mth) in April improved to -5.7% compared to previous figure -7.8% in March


What can we expect from EURUSD today?

EURUSD on Thursday rose 0.2% to 1.08920. Price is above 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 1.09088 with break above could target R2 at 1.09255 or figure level area. While towards the downside, we are looking at daily low of 1.08617 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.09020 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 0.43% over the past few days.

Key levels to watch out:

R3 1.09491
R2 1.09255
R1 1.09088
Daily Pivot 1.08852
S1 1.08685
S2 1.08449
S3 1.08282

 

On Key

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