EURUSD on Thursday rose 0.69% to 1.07597. What we know.
|Performance after Thursday|
|Week to-date||0.34%||36.1 Pips|
Upcoming key events (London Time)
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
🇺🇸 In the week ending 27 May, the Initial Unemployment Insurance Claims rose to 232K compared to previous figure 229K Department of Labor
🇺🇸 Nonfarm Business Labor Productivity in Q1 below forecast and improved to -2.1% compared to previous figure -2.7% in Q4 Bureau of Labor Statistics
🇺🇸 U.S. ADP Non-Farm Employment Change in May dropped to 278K compared to previous figure 291K (revised from 296K)
🇪🇺 Harmonised Index of Consumer Prices (HICP) (12-mth) in May below forecast and dropped to 6.1% compared to previous figure 7% in April Eurostat
🇪🇺 Euro Area Unemployment Rate in April dropped to 6.5% compared to previous figure 6.6% (revised from 6.5%) Eurostat
🇩🇪 Retail Trade Turnover (12-mth) in April below forecast and improved to -4.3% compared to previous figure -8.6% in March Destatis
What can we expect from EURUSD today?
EURUSD on Thursday rose 0.69% to 1.07597. Price is above 9-Day EMA while Stochastic is rising.
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 R1 at 1.07984 with break above could target R2 at 1.08371 or figure level area. While towards the downside, we are looking at daily low of 1.06610 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.07684 may suggest continuation after recent positive movement.
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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