EURUSD on Thursday rose 0.58% to 1.10747. What we know.

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	0.58%	63.9 Pips
Week to-date	-0.11%	-12.5 Pips
September	-0.05%	-5.7 Pips

Upcoming key events (London Time)

  Fri 03:00 PM USD The Index of Consumer Sentiment| Sep flash

What happened lately

 The U.S. Monthly Treasury Budget Statement in August dropped to -$380 billion compared to -$244 billion in July. Source: Bureau of the Fiscal Service
  In the week ending 07 September, U.S. Initial Unemployment Insurance Claims rose to 230K compared to previous figure 228K (revised from 227K) Source: Department of Labor
  U.S. Producer Price Index (12-mth) in August dropped to 1.7% compared to the revised July figure of 2.2%. Source: Bureau of Labor Statistics
  U.S. PPI excluding Food and Energy sectors (12-mth) remained unchanged at 2.4% in August compared to July’s report. Source: Bureau of Labor Statistics
  U.S. Producer Price Index (1-mth) for August rose to 0.2%, up from 0.1% in July. Source: Bureau of Labor Statistics
 In August, the U.S. PPI excluding Food and Energy sectors increased to 0.3% from the revised July figure of -0.2%. Source: Bureau of Labor Statistics
  Euro Area ECB Interest Rate on main refinancing operations (MRO) dropped to 3.65% compared to previous rate 4.25% Source: European Central Bank
  The U.S. Consumer Price Index (CPI) inflation rate for August remained steady at 0.2%, unchanged from the rate reported in July. Source: Bureau of Labor Statistics
  The U.S. CPI inflation rate over 12-month period for August decreased to 2.5% from 2.9% in July. Source: Bureau of Labor Statistics

What can we expect from EURUSD today?

EURUSD on Thursday rose 0.58% to 1.10747. 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 R1 at 1.10985 with break above could target R2 at 1.11222 or figure level area. While towards the downside, we are looking at daily low of 1.10052 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.10756 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: