EURUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.43% | -47.2 Pips |  |
||
| Week to-date | -0.24% | -25.7 Pips |  |
||
| June | 1.68% | 179.7 Pips |  |
||
Upcoming key events (London Time)
Fri 07:00 AM EUR Retail Trade Turnover (12-mth)
Fri 10:00 AM EUR Core Harmonised Index of Consumer Prices (HICP) (12-mth) Fri 10:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)
What happened lately
🇺🇸 U.S. GDP Annualized in Q1 exceed forecast and rose to 2% compared to previous figure 1.3% in Q4 Bureau of Economic Analysis 🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q1 below forecast and dropped to 4.9% compared to previous figure 5% in Q4 Bureau of Economic Analysis 🇩🇪 Germany Gfk Consumer Confidence Survey in July exceed forecast and dropped to -25.4 points compared to previous figure -24.4, revised from -24.2 points in June GfK
What can we expect from EURUSD today?
EURUSD on Thursday dropped -0.43% to 1.08653. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for EURUSD looks bearish as the pair posted lower in Thursday trading session.
Looking ahead for the day, immediate support level is at S1 1.08363 with break below could see further selling pressure towards S2 at 1.08074. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.09414 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.08599 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 | 1.09993 |
| R2 | 1.09704 |
| R1 | 1.09178 |
| Daily Pivot | 1.08889 |
| S1 | 1.08363 |
| S2 | 1.08074 |
| S3 | 1.07548 |
You might be interested in:
Powell, Financial Stability and Economic Developments. Federal Reserve Federal Reserve Board releases results of annual bank stress test, which demonstrates that large banks are well positioned to weather a severe recession and continue to lend to households and businesses even during a severe recession. Federal Reserve U.S. International Investment Position, 1st Quarter 2023 and Annual Update. Bureau of Economic Analysis Advance Retail Inventories. Census Bureau Advance U.S. International Trade in Goods. Census Bureau Advance Wholesale Inventories. Census Bureau New Home Sales. Census Bureau
In June 2023, household confidence has recovered slightly. INSEE Advance Monthly Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
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