Dear ,
As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.
EURUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -0.08% | -8.5 Pips |  |
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| Week to-date | -0.13% | -13.5 Pips |  |
||
| May | 0.73% | 78.4 Pips |  |
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Upcoming key events (London Time)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇩🇪 Germany Industrial Production n.seasonal adjustment. w.d.a. (12-mth) in March improved to -3.3% compared to previous figure -4.9% in February
🇪🇺 Euro Area Retail Trade Turnover (1-mth) in March rose to 0.8% compared to previous figure -0.3, revised from -0.5% in February
🇩🇪 Germany Factory Orders seasonal adjustment. (1-mth) in March dropped to -0.4% compared to previous figure 0.2% in February
What can we expect from EURUSD today?
EURUSD on Wednesday dropped -0.08% to 1.07474. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for EURUSD looks bearish as the pair posted lower in Wednesday trading session.
Looking ahead for the day, immediate support level is at S1 1.07344 with break below could see further selling pressure towards S2 at 1.07215. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.07575 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.07330 would indicate selling pressure.
For the week to-date, take note that EURUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.07834 |
| R2 | 1.07705 |
| R1 | 1.07589 |
| Daily Pivot | 1.0746 |
| S1 | 1.07344 |
| S2 | 1.07215 |
| S3 | 1.07099 |
