EURUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.08%	8.5 Pips
Week to-date	-0.21%	-22.8 Pips
August	-0.11%	-12.4 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Producer Price Index excluding Food and Energy sectors (12-mth)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇺🇸 In the week ending 05 August, U.S. Initial Unemployment Insurance Claims rose to 248K compared to previous figure 227K Department of Labor

What can we expect from EURUSD today?

EURUSD on Thursday rose 0.08% to 1.09844. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09452 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.10652 or trades above daily pivot 1.10052. Break above could target R1 at 1.10444. While to the downside, we are looking at 1.09452 (S1) and daily low of 1.09660 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.10652 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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