• Thu. Jun 13th, 2024

EURUSD on Thursday rose 0.47% to 1.06170. What we know.

Economic impact and decrease due to coronavirus pandemic background

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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 0.47% 50 Pips
Week to-date 0.54% 56.5 Pips
November 0.4% 42.6 Pips

Upcoming key events (London Time)

  Fri 12:30 PM USD Nonfarm Payroll Employment

What happened lately

 🇺🇸 U.S. Factory Orders (1-mth) in September exceed forecast and rose to 2.8% compared to previous figure 1, revised from 1.2% in August Census Bureau
 🇺🇸 U.S. Nonfarm Business Labor Productivity in Q3 preliminary estimate exceed forecast and rose to 4.7% compared to previous figure 3.5% in Q2 Bureau of Labor Statistics
 🇺🇸 U.S. Challenger Job Cuts in October dropped to 36.836K compared to previous figure 47.457K in September
 🇩🇪 Germany Unemployment Rate seasonal adjustment. in October rose to 5.8% compared to previous figure 5.7% in September Destatis
 🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Federal Reserve
 🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in September exceed forecast and rose to 9.553M compared to previous figure 9.497, revised from 9.61M in August Bureau of Labor Statistics


EURUSD 4-hour Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Thursday rose 0.47% to 1.06170. 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 1.06619 with break above could target R2 at 1.07069 or figure level area. While towards the downside, we are looking at daily low of 1.05834 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.06676 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 1.07461
R2 1.07069
R1 1.06619
Daily Pivot 1.06227
S1 1.05777
S2 1.05385
S3 1.04935

 

On Key

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