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EURUSD on Thursday rose 0.90% to 0.9821. Looking bullish. What you need to know before the next trade.
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Thursday
Open High Low Close
0.97091 0.98439 0.96320 0.98211
Performance after Thursday
Period Pct Chg Momentum
Thursday 0.90% 87.9 Pips
Week to-date 1.35% 131.1 Pips
September -2.28% -229 Pips

Upcoming key events (London Time)

Fri 07:00 AM EUR Retail Sales (YoY)
Fri 10:00 AM EUR HICP (YoY)
Fri 10:00 AM EUR HICP-X F,E,A,T (YoY)

What happened lately

📆 ☢️ 🇺🇸 USD Gross Domestic Product Annualized in Q2 unchanged at -0.6% compared to previous report in Q1. The actual figure is also in line with the forecast. Source
📆 🇺🇸 USD Core Personal Consumption Expenditures (QoQ) in Q2 exceed forecast and rose to 5.6% compared to previous figure 4.4% in Q1. Source
📆 🇪🇺 EUR Consumer Confidence in September unchanged at -28.8 points compared to previous report in August. The actual figure is also in line with the forecast. Source
📆 🇺🇸 USD Pending Home Sales (MoM) in August exceed forecast and dropped to -2% compared to previous figure -0.6, revised from -1% in July. Source
📆 🇩🇪 EUR Gfk Consumer Confidence Survey in October exceed forecast and dropped to -42.5 points compared to previous figure -36.8, revised from -36.5 points in September. Source
📆 🇺🇸 USD Housing Price Index (MoM) in July below forecast and dropped to -0.6% compared to previous figure 0.1% in June. Source
📆 🇺🇸 USD S&P/Case-Shiller Home Price Indices (YoY) in July below forecast and dropped to 16.1% compared to previous figure 18.7, revised from 18.6% in June. Source
📆 ☢️ 🇺🇸 USD Durable Goods Orders in August below forecast and dropped to -0.2% compared to previous figure -0.1, revised from 0% in July. Source


What can we expect from EURUSD today?

EURUSD on Thursday rose 0.90% to 0.9821. Price is above 9-Day EMA while Stochastic is rising but in oversold zone.

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 at 0.98993 (R1) while on the downside, we are looking at daily low of 0.9632 as an important support. Break below this level could weaken the current bullish momentum. EURUSD need to break on either side to indicate a short-term bias. A break above 0.9844 would suggest bullish bias after recent positive movement.

For the week to-date, take note that EURUSD is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

R3 1.01112
R2 0.99776
R1 0.98993
Daily Pivot 0.97657
S1 0.96874
S2 0.95538
S3 0.94755

You might also be interested in:

Frank Elderson: The ECB’s monetary policy strategy: delivering our mandate in all circumstances Source: European Central Bank
U.S. International Investment Position, 2nd Quarter 2022 Source: Bureau of Economic Analysis
Advance Monthly Wholesale Inventories Source: Census Bureau
Advance Monthly Retail Inventories Source: Census Bureau
Advance U.S. International Trade in Goods Source: Census Bureau
New Residential Sales Source: Census Bureau
Advance Report on Durable Goods Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau

Last updated: 12:32 am UTC, 30-Sep 2022

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