EURUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.39% | -42.9 Pips |  |
||
| Week to-date | 0.13% | 13.7 Pips |  |
||
| July | 1.53% | 163.9 Pips | |
||
Upcoming key events (London Time)
No major events for the day.
What happened lately
The U.S. Manufacturing Business Outlook Survey in July rose to 13.9 points from the previous figure of 1.3 points in June. Source: Philadelphia Fed
🇪🇺 Euro Area ECB Interest Rate on main refinancing operations (MRO) unchanged at 4.25% compared to previous rate 4.25% Source: European Central Bank 🇺🇸 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
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What can we expect from EURUSD today?
EURUSD on Thursday dropped -0.39% to 1.08992. Price is above 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 1.08812 with break below could see further selling pressure towards S2 at 1.08633. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.09407 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.08930 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 | 1.09766 |
| R2 | 1.09587 |
| R1 | 1.09289 |
| Daily Pivot | 1.0911 |
| S1 | 1.08812 |
| S2 | 1.08633 |
| S3 | 1.08335 |
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