• Sat. Feb 24th, 2024

EURUSD on Thursday rose 0.48% to 1.10447. What we know

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 0.48% 53.3 Pips
Week to-date 1.42% 154.5 Pips
April 2.02% 219.2 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Retail Trade Turnover (1-mth) | Mar
Fri 03:00 PM USD Michigan Index of Consumer Sentiment | Apr flash

What happened lately

USD In the week ending 08 April, the Initial Unemployment Insurance Claims rose to 239K compared to previous figure 228K
EUR Industrial Production seasonal adjustment. (1-mth) | Feb in February exceed forecast and rose to 1.5% compared to previous figure 1, revised from 0.7% in January
EUR Harmonised Index of Consumer Prices (HICP) (12-mth) | Mar in March unchanged at 7.8% compared to previous report in February. The actual figure is also in line with the forecast
USD Monthly Budget Statement | Mar in March exceed forecast and dropped to -378$ compared to previous figure -262$ in February.
USD CPI Inflation Rate (12-mth) | Mar in March below forecast and dropped to 5% compared to previous figure 6% in February

 

What can we expect from EURUSD today?

EURUSD on Thursday rose 0.48% to 1.10447. Price is above 9-Day EMA while Stochastic is rising.

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 at 1.10833 (R1) while on the downside, we are looking at daily low of 1.09750 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.10677 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 1.42% over the past few days.

Key levels to watch out:

R3 1.1176
R2 1.11218
R1 1.10833
Daily Pivot 1.10291
S1 1.09906
S2 1.09364
S3 1.08979

 

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