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 | 0.26% | 27.9 Pips |  |
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| Week to-date | -0.82% | -89.6 Pips |  |
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| December | -0.86% | -93.9 Pips |  |
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Upcoming key events (London Time)
Fri 07:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
U.S. Challenger Job Cuts in November rose to 45.51K compared to previous figure 36.836K in October
Euro Area Employment Change (3-mth) in Q3 rose to 0.2% compared to previous figure 0.1% (revised from 0.3%)
Euro Area GDP (seasonally adjusted) (3-mth) in Q3 unchanged at -0.1% compared to previous report in Q2. The actual figure is also in line with the forecast Source: Eurostat
Germany Industrial Production n.seasonal adjustment. w.d.a. (12-mth) in October rose to -3.5% compared to previous figure -3.6% (revised from -3.7%)
U.S. Nonfarm Business Labor Productivity in Q3 exceed forecast and rose to 5.2% compared to previous figure 4.7% in Q2 Source: Bureau of Labor Statistics
Euro Area Retail Trade Turnover (12-mth) in October exceed forecast and improved to -1.2% compared to previous figure -2.9% in September Source: Eurostat
Euro Area Retail Trade Turnover (1-mth) in October below forecast and rose to 0.1% compared to previous figure -0.1, revised from -0.3% in September
Germany Factory Orders n.seasonal adjustment. (12-mth) in October exceed forecast and dropped to -7.3% compared to previous figure -4.3% in September
Germany Factory Orders seasonal adjustment. (1-mth) in October below forecast and dropped to -3.7% compared to previous figure 0.2% in September
What can we expect from EURUSD today?
EURUSD on Thursday rose 0.26% to 1.07922. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.07588 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08175 or trades above daily pivot 1.07882. Break above could target R1 at 1.08215. While to the downside, we are looking at 1.07588 (S1) and daily low of 1.07548 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.08175 may suggest continuation after recent positive movement.
For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.82%.
Key levels to watch out:
| R3 | 1.08842 |
| R2 | 1.08509 |
| R1 | 1.08215 |
| Daily Pivot | 1.07882 |
| S1 | 1.07588 |
| S2 | 1.07255 |
| S3 | 1.06961 |
