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 | 0.36% | 39.5 Pips |  |
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| Week to-date | 0.5% | 54.4 Pips | |
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| July | 1.91% | 204.6 Pips |  |
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Upcoming key events (London Time)
Thu 01:15 PM EUR ECB Interest Rate on main refinancing operations (MRO)
What happened lately
🇺🇸 U.S. Industrial Production (1-mth) in June dropped to 0.9% compared to previous figure 1% (revised from 0.9%)
🇪🇺 Euro Area Core Harmonized Index of Consumer Prices (HICP) in June rose to 0.4% compared to 0.3% in May. Source: Eurostat
🇺🇸 U.S. Monthly Retail Trade (1-mth) in June dropped to 0% compared to previous figure 0.1% in May Source: Census Bureau
What can we expect from EURUSD today?
EURUSD on Wednesday rose 0.36% to 1.09399. 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 1.09604 with break above could target R2 at 1.09808 or figure level area. While towards the downside, we are looking at daily low of 1.08949 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.09481 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 | 1.10136 |
| R2 | 1.09808 |
| R1 | 1.09604 |
| Daily Pivot | 1.09276 |
| S1 | 1.09072 |
| S2 | 1.08744 |
| S3 | 1.0854 |
