EURUSD on Wednesday rose 0.08% to 1.05827. Pair in consolidation. What we know.
|Performance after Wednesday|
|Week to-date||0.21%||22.2 Pips|
Upcoming key events (London Time)
Fri 12:30 PM USD Nonfarm Payroll Employment
What happened lately
🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Federal Reserve
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in September exceed forecast and rose to 9.553M compared to previous figure 9.497, revised from 9.61M in August Bureau of Labor Statistics
🇺🇸 U.S. Housing Price Index (1-mth) in August exceed forecast and dropped to 0.6% compared to previous figure 0.8% in July
🇺🇸 U.S. Employment Cost Index in Q3 exceed forecast and rose to 1.1% compared to previous figure 1% in Q2
🇪🇺 Euro Area GDP (seasonally adjusted) (3-mth) in Q3 preliminary estimate below forecast and dropped to -0.1% compared to previous figure 0.1% in Q2 Eurostat
🇪🇺 Euro Area Harmonised Index of Consumer Prices (HICP) (12-mth) in October preliminary estimate below forecast and dropped to 2.9% compared to previous figure 4.3% in September Eurostat
What can we expect from EURUSD today?
EURUSD on Wednesday rose 0.08% to 1.05827. 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 1.05384 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.05833 or trades above daily pivot 1.05608. Break above could target R1 at 1.06052. While to the downside, we are looking at 1.05384 (S1) and daily low of 1.05165 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.05833 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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