EURUSD on Thursday dropped -0.83% to 1.05317. What you need to know.
|Performance after Thursday|
|Week to-date||-0.51%||-54 Pips|
Upcoming key events (London Time)
Fri 02:00 PM EUR European Central Bank’s President Christine Lagarde speech
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 In the week ending 07 October, U.S. Initial Unemployment Insurance Claims rose to 209K compared to previous figure 207K Department of Labor
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (12-mth) in September dropped to 4.1% compared to previous figure 4.3% in August Bureau of Labor Statistics
🇺🇸 U.S. Producer Price Index (12-mth) in September exceed forecast and rose to 2.2% compared to previous figure 2, revised from 1.6% in August
What can we expect from EURUSD today?
EURUSD on Thursday dropped -0.83% to 1.05317. Price is below 9-Day EMA while Stochastic is rising.
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 1.04906 with break below could see further selling pressure towards S2 at 1.04494. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.06397 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.05240 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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