EURUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.35% | 37.6 Pips |  |
||
| Week to-date | 0.22% | 24.1 Pips |  |
||
| May | 1.09% | 116 Pips | |
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Upcoming key events (London Time)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 In the week ending 04 May, U.S. Initial Unemployment Insurance Claims rose to 231K compared to previous figure 209K (revised from 208K) Source: Department of Labor
🇩🇪 Germany Industrial Production n.seasonal adjustment. w.d.a. (12-mth) in March improved to -3.3% compared to previous figure -4.9% in February
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What can we expect from EURUSD today?
EURUSD on Thursday rose 0.35% to 1.07850. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for EURUSD looks bullish as the pair ended higher after Thursday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.08061 with break above could target R2 at 1.08273 or figure level area. While towards the downside, we are looking at daily low of 1.07236 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.07860 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:
| R3 | 1.08685 |
| R2 | 1.08273 |
| R1 | 1.08061 |
| Daily Pivot | 1.07649 |
| S1 | 1.07437 |
| S2 | 1.07025 |
| S3 | 1.06813 |
