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 |  |
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| Week to-date | -0.12% | -12.9 Pips |  |
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| May | 1.53% | 163.1 Pips | |
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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 |
