• Wed. May 29th, 2024

EURUSD on Thursday rose 0.45% to 1.07746. 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 0.45% 48.2 Pips
Week to-date -0.07% -7.5 Pips
February -0.4% -43.4 Pips

Upcoming key events (London Time)

  Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)

What happened lately

 🇺🇸 U.S. Industrial Production (1-mth) in January dropped to -0.1% compared to previous figure 0.1%
 🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in February rose to 5.2 points compared to previous figure -10.6 points in January
 🇺🇸 U.S. Monthly Retail Trade (1-mth) in January dropped to -0.8% compared to previous figure 0.4, revised from 0.6% in December Source: Census Bureau
 🇺🇸 In the week ending 10 February, U.S. Initial Unemployment Insurance Claims dropped to 212K compared to previous figure 220K (revised from 218K) Source: Department of Labor
 🇺🇸 U.S. New York Empire State Manufacturing Index in February improved to -2.4 points compared to previous figure -43.7 points in January
 🇪🇺 Euro Area GDP (seasonally adjusted) (12-mth) in Q4 flash estimate unchanged at 0.1% compared to previous report in Q3. Source: Eurostat


What can we expect from EURUSD today?

EURUSD on Thursday rose 0.45% to 1.07746. Price is above 9-Day EMA while Stochastic is falling.

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 1.07981 with break above could target R2 at 1.08217 or figure level area. While towards the downside, we are looking at daily low of 1.07244 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.07848 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 1.08585
R2 1.08217
R1 1.07981
Daily Pivot 1.07613
S1 1.07377
S2 1.07009
S3 1.06773
On Key

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