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 | 0.31% | 33.8 Pips |  |
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| Week to-date | 0.5% | 53.5 Pips | |
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| July | 0.5% | 53.5 Pips |  |
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Upcoming key events (London Time)
Fri 10:00 AM EUR Retail Trade Turnover (12-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
🇺🇸 U.S. Factory Orders (1-mth) in May dropped to -0.5% compared to previous figure 0.4, revised from 0.7% in April Source: Census Bureau
🇺🇸 In the week ending 29 June, U.S. Initial Unemployment Insurance Claims rose to 238K compared to previous figure 233K Source: Department of Labor
🇺🇸 U.S. Challenger Job Cuts in June dropped to 48.786K compared to previous figure 63.816K in May
🇪🇺 Euro Area Producer Price Index (1-mth) in May improved to -0.2% compared to previous figure -1% in April Source: Eurostat
🇪🇺 Euro Area Producer Price Index (12-mth) in May improved to -4.2% compared to previous figure -5.7% in April Source: Eurostat
🇪🇺 Euro Area Core Harmonized Index of Consumer Prices (HICP) (1-mth) in June flash estimate dropped to 0.3% compared to previous figure 0.4% in May Source: Eurostat
🇪🇺 Euro Area Unemployment Rate in May unchanged at 6.4% compared to previous report in April. Source: Eurostat
🇪🇺 Euro Area Harmonized Index of Consumer Prices (HICP) (1-mth) in June flash estimate unchanged at 0.2% compared to previous report in May. Source: Eurostat
🇪🇺 Euro Area Core Harmonised Index of Consumer Prices (HICP) (12-mth) in June flash estimate dropped to 2.8% compared to previous figure 2.9% in May Source: Eurostat
🇪🇺 Euro Area Harmonised Index of Consumer Prices (HICP) (12-mth) in June flash estimate dropped to 2.5% compared to previous figure 2.6% in May Source: Eurostat
What can we expect from EURUSD today?
EURUSD on Wednesday rose 0.31% to 1.07888. Price is above 9-Day EMA while Stochastic is rising.
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 1.08251 with break above could target R2 at 1.08615 or figure level area. While towards the downside, we are looking at daily low of 1.07360 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.08169 may suggest continuation after recent positive movement.
For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 0.5% over the past few days.
Key levels to watch out:
| R3 | 1.0906 |
| R2 | 1.08615 |
| R1 | 1.08251 |
| Daily Pivot | 1.07806 |
| S1 | 1.07442 |
| S2 | 1.06997 |
| S3 | 1.06633 |
