EURUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.4% | -43.7 Pips |  |
||
| Week to-date | 0.54% | 59.4 Pips |  |
||
| August | 1.38% | 149.3 Pips |  |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Industrial Production (1-mth) in July decreased to -0.6% from 0.6% in June. 🇺🇸 U.S. Monthly Retail Trade (1-mth) in July rose to 1% from 0% in June. Source: Census Bureau 🇺🇸 In the week ending 10 August, U.S. Initial Unemployment Insurance Claims dropped to 227K compared to previous figure 234K (revised from 233K) Source: Department of Labor 🇺🇸 U.S. Retail Trade Control Group in July dropped to 0.3%, down from 0.9% in June. Source: Census Bureau 🇺🇸 U.S. CPI Inflation Rate (1-mth) increased to 0.2% in July from -0.1% in June. Source: Bureau of Labor Statistics The U.S. CPI Inflation Rate excluding Food and Energy sectors increased to 0.2% in July from 0.1% in June. Source: Bureau of Labor Statistics 🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (12-mth) in July dropped to 3.2%, down from 3.3% in June. Source: Bureau of Labor Statistics 🇺🇸 The U.S. CPI inflation rate for July dropped to 2.9% from the previous figure of 3% in June. Source: Bureau of Labor Statistics
The Euro Area GDP (seasonally adjusted) in the Q2 flash estimate remained unchanged at 0.6% compared to the previous report in Q1. Source: Eurostat 🇪🇺 Euro Area Industrial Production (1-mth) in June improved to -0.1%, compared to a revised figure of -0.9% from -0.6% in May. Source: Eurostat The Euro Area Employment Change (3-mth) in Q2 flash estimate dropped to 0.2% compared to the previous figure of 0.3% in Q1. 🇪🇺 Euro Area GDP (seasonally adjusted) (3-mth) Q2 flash estimate remains unchanged at 0.3% compared to the previous Q1 report. Source: Eurostat
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What can we expect from EURUSD today?
EURUSD on Thursday dropped -0.4% to 1.09732. 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 1.09429 with break below could see further selling pressure towards S2 at 1.09127. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.10156 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.09490 would indicate selling pressure.
For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 0.54% over the past few days.
Key levels to watch out:
| R3 | 1.10761 |
| R2 | 1.10459 |
| R1 | 1.10095 |
| Daily Pivot | 1.09793 |
| S1 | 1.09429 |
| S2 | 1.09127 |
| S3 | 1.08763 |
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