As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.
|Performance after Thursday|
|Week to-date||-0.22%||-23.7 Pips|
Upcoming key events (London Time)
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
U.S. Challenger Job Cuts in September dropped to 47.457K compared to previous figure 75.151K in August
U.S. Factory Orders (1-mth) in August exceed forecast and rose to 1.2% compared to previous figure -2.1% in July Census Bureau
Euro Area Producer Price Index (1-mth) in August rose to 0.6% compared to previous figure -0.5% in July
Euro Area Retail Trade Turnover (1-mth) in August exceed forecast and dropped to -1.2% compared to previous figure -0.1, revised from -0.2% in July
What can we expect from EURUSD today?
EURUSD on Thursday rose 0.37% to 1.05472. Price is above 9-Day EMA while Stochastic is rising in oversold zone.
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 1.05662 with break above could target R2 at 1.05852 or figure level area. While towards the downside, we are looking at daily low of 1.04998 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.05520 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: