EURUSD on Wednesday rose 0.26% to 1.10819. 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 Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.26%	28.5 Pips
Week to-date	-0.95%	-106 Pips
September	0.01%	1.5 Pips

Upcoming key events (London Time)

  Fri 10:00 AM EUR GDP (seasonally adjusted) (3-mth)
  Fri 10:00 AM EUR GDP (seasonally adjusted) (12-mth)
  Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

  U.S. Factory Orders (1-mth) in July rose to 5%, compared to the previous figure of -3.3% in June. Source: Census Bureau
  U.S. Job Openings and Labor Turnover Survey (JOLTS) in July dropped to 7.673M compared to the revised June figure of 7.91M, down from 8.184M. Source: Bureau of Labor Statistics
  U.S. Job Openings and Labor Turnover Survey (JOLTS) in July dropped to 7.673M, compared to the previous figure of 7.91M revised from 8.184M in June. Source: Bureau of Labor Statistics
  Euro Area Producer Price Index (12-mth) in July improved to -2.1% compared to the revised June figure of -3.3%. Source: Eurostat
  Euro Area Producer Price Index (1-mth) in July rose to 0.8%, compared to the revised figure of 0.6% for June. Source: Eurostat

What can we expect from EURUSD today?

EURUSD on Wednesday rose 0.26% to 1.10819. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for EURUSD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.11048 with break above could target R2 at 1.11278 or figure level area. While towards the downside, we are looking at daily low of 1.10397 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.10952 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: