EURUSD on Thursday dropped -0.37% to 1.10200. Pair in consolidation. What we know.
|Performance after Thursday|
|Week to-date||0.05%||6 Pips|
Upcoming key events (London Time)
Fri 10:00 AM EUR Retail Trade Turnover (12-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
USD Nonfarm Business Labor Productivity in Q1 preliminary estimate dropped to -2.7% compared to previous figure 1.6% (revised from 1.7%). Bureau of Labor Statistics
🇺🇸 In the week ending 29 April, the Initial Unemployment Insurance Claims rose to 242K compared to previous figure 229K (revised from 230K) Department of Labor
🇺🇸 Goods and Services Trade Balance in March exceed forecast and improved to -64.2$ compared to previous figure -70.6, revised from -70.5$ in February
🇪🇺 ECB Interest Rate on main refinancing operations (MRO) rose to 3.75% compared to previous rate 3.5% European Central Bank
🇺🇸 Fed Interest Rate Decision (Federal Funds Rate) rose to 5.25% compared to previous rate 5% Federal Reserve
🇪🇺 Unemployment Rate in March below forecast and dropped to 6.5% compared to previous figure 6.6% in February Eurostat
What can we expect from EURUSD today?
EURUSD on Thursday dropped -0.37% to 1.10200. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09734 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.10917 or trades above daily pivot 1.10326. Break above could target R1 at 1.10791. While to the downside, we are looking at 1.09734 (S1) and daily low of 1.09860 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.09860 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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