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 | 0.6% | 66.1 Pips |  |
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| Week to-date | 1.06% | 115.2 Pips |  |
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| December | 1.11% | 121.3 Pips | |
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Upcoming key events (London Time)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
What happened lately
U.S. Personal Consumption Expenditures Prices (3-mth) in Q3 below forecast and dropped to 2.6% compared to previous figure 2.8% in Q2 Source: Bureau of Economic Analysis
U.S. Gross Domestic Product Price Index in Q3 below forecast and dropped to 3.3% compared to previous figure 3.5% in Q2 Source: Bureau of Economic Analysis
U.S. Philadelphia Fed Manufacturing Survey in December below forecast and dropped to -10.5 points compared to previous figure -5.9 points in November
Euro Area Consumer Confidence in December preliminary estimate below forecast and improved to -15.1 points compared to previous figure -16.9 points in November Source: DG ECFIN
Germany Producer Price Index (1-mth) in November exceed forecast and dropped to -0.5% compared to previous figure -0.1% in October Source: Federal Statistical Office (Destatis)
Germany Gfk Consumer Confidence Survey in January below forecast and improved to -25.1 points compared to previous figure -27.6, revised from -27.8 points in December Source: GfK
What can we expect from EURUSD today?
EURUSD on Thursday rose 0.6% to 1.10074. 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 1.1035 with break above could target R2 at 1.10626 or figure level area. While towards the downside, we are looking at daily low of 1.09350 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.10126 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 | 1.11126 |
| R2 | 1.10626 |
| R1 | 1.1035 |
| Daily Pivot | 1.0985 |
| S1 | 1.09574 |
| S2 | 1.09074 |
| S3 | 1.08798 |
