• Wed. Jul 24th, 2024

EURUSD on Thursday rose 0.37% to 1.05472. 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 0.37% 38.6 Pips
Week to-date -0.22% -23.7 Pips
October -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

EURUSD 4-hour Chart by TradingView

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:

R3 1.06184
R2 1.05852
R1 1.05662
Daily Pivot 1.0533
S1 1.0514
S2 1.04808
S3 1.04618
On Key

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