Categories
Forex

EURUSD on Thursday rose 0.8% to 1.07835. What we know.

EURUSD on Thursday rose 0.8% to 1.07835. What we know.

EURUSD Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday 0.8% 85.3 Pips
Week to-date 0.72% 77.5 Pips
June 0.92% 97.9 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇪🇺 Euro Area GDP (seasonally adjusted) (3-mth) in Q1 below forecast and dropped to -0.1% compared to previous figure 0.1% in Q4 Eurostat
🇺🇸 U.S. Goods and Services Trade Balance in April dropped to -74.6$ compared to previous figure -60.6$ (revised from -64.2$)


EURUSD 4-hour Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Thursday rose 0.8% to 1.07835. Price is above 9-Day EMA while Stochastic is rising.

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 1.08137 with break above could target R2 at 1.0844 or figure level area. While towards the downside, we are looking at daily low of 1.07000 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.07871 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 0.72% over the past few days.

Key levels to watch out:

R3 1.09008
R2 1.0844
R1 1.08137
Daily Pivot 1.07569
S1 1.07266
S2 1.06698
S3 1.06395

You might be interested in:

In Q1 2023, payroll employment increased by 0.3%. INSEE
U.S. International Trade in Goods and Services, April 2023. Bureau of Economic Analysis
U.S. International Trade in Goods and Services. Census Bureau
Quarterly Financial Report. Census Bureau
Quarterly Financial Report – Retail. Census Bureau
Volume of retail trade unchanged in the euro area and up by 0.1% in the EU. Eurostat

Disclaimer: We do not endorsed nor verified the posts provided by Twitter. This widget is provided to you as a convenience only and is not affiliated with all parties in any way.

Leave a Reply

Your email address will not be published. Required fields are marked *