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 | -0.34% | -37.4 Pips |  |
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| Week to-date | 0.44% | 47.8 Pips |  |
||
| December | 0.47% | 51 Pips | |
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Upcoming key events (London Time)
Thu 01:30 PM USD GDP Annualized
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
🇪🇺 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
🇺🇸 U.S. Housing Starts (1-mth) in November exceed forecast and rose to 1.56M compared to previous figure 1.359, revised from 1.372M in October Source: Census Bureau
🇺🇸 U.S. Building Permits (1-mth) in November below forecast and dropped to 1.46M compared to previous figure 1.498, revised from 1.487M in October Source: Census Bureau
🇪🇺 Euro Area Harmonized Index of Consumer Prices (HICP) (1-mth) in November exceed forecast and dropped to -0.6% compared to previous figure -0.5% in October Source: Eurostat
What can we expect from EURUSD today?
EURUSD on Wednesday dropped -0.34% to 1.09431. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09215 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09810 or trades above daily pivot 1.09512. Break above could target R1 at 1.09729. While to the downside, we are looking at 1.09215 (S1) and daily low of 1.09296 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.09296 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 | 1.10243 |
| R2 | 1.10026 |
| R1 | 1.09729 |
| Daily Pivot | 1.09512 |
| S1 | 1.09215 |
| S2 | 1.08998 |
| S3 | 1.08701 |
