EURUSD on Thursday dropped -0.14% to 1.09173. What we know.

EURUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.14%	-15.3 Pips
Week to-date	0.06%	6.5 Pips
August	0.86%	93.4 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 In the week ending 03 August, U.S. Initial Unemployment Insurance Claims dropped to 233K compared to previous figure 250K (revised from 249K) Source: Department of Labor
🇩🇪 Germany’s industrial production, not seasonally adjusted and working day adjusted (12-month), improved to -4.1% in June compared to the previous figure of -6.7% in May.
Germany’s seasonally adjusted industrial production increased to 1.4% in June, up from -2.5% in May.
Germany’s trade balance, adjusted for seasonal variations, dropped to €20.4 billion in June from the previous figure of €24.9 billion in May. Source: Destatis

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What can we expect from EURUSD today?

EURUSD on Thursday dropped -0.14% to 1.09173. 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 1.0884 with break below could see further selling pressure towards S2 at 1.08506. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.09451 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.08812 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:

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