• Sat. Jun 15th, 2024

EURUSD on Thursday rose 0.27% to 1.08321. 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 0.27% 29.2 Pips
Week to-date -0.12% -12.9 Pips
May 1.53% 163.1 Pips

Upcoming key events (London Time)

  Fri 07:00 AM EUR Retail Trade Turnover (12-mth)
  Fri 10:00 AM EUR Harmonized Index of Consumer Prices (HICP) (1-mth)
  Fri 10:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)
  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 Annualized in Q1 flash estimate dropped to 1.3% compared to previous figure 1.6% in Q4 Source: Bureau of Economic Analysis
 🇺🇸 In the week ending 25 May, U.S. Initial Unemployment Insurance Claims rose to 219K compared to previous figure 216K (revised from 215K) Source: Department of Labor
 🇪🇺 Euro Area Unemployment Rate in April dropped to 6.4% compared to previous figure 6.5% in March Source: Eurostat
 🇩🇪 Germany CPI Inflation Rate (12-mth) in May flash estimate rose to 2.4% compared to previous figure 2.2% in April
 🇩🇪 Germany Gfk Consumer Confidence Survey in June improved to -20.9 points compared to previous figure -24, revised from -24.2 points in May Source: GfK

What can we expect from EURUSD today?

EURUSD on Thursday rose 0.27% to 1.08321. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.07983 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08451 or trades above daily pivot 1.08217. Break above could target R1 at 1.08555. While to the downside, we are looking at 1.07983 (S1) and daily low of 1.07879 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.08451 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 1.09127
R2 1.08789
R1 1.08555
Daily Pivot 1.08217
S1 1.07983
S2 1.07645
S3 1.07411
On Key

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