EURUSD on Thursday rose 0.07% to 1.08540. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Thursday
Thursday0.07%7.2 Pips
Week to-date1.58%169.2 Pips
November2.64%279.6 Pips

Upcoming key events (London Time)

Fri 08:30 AM EUR European Central Bank’s President Christine Lagarde speech

What happened lately

🇺🇸 U.S. Industrial Production (1-mth) in October dropped to -0.6% compared to previous figure 0.1% (revised from 0.3%)
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in November below forecast and improved to -5.9 points compared to previous figure -9 points in October
🇺🇸 U.S. New York Empire State Manufacturing Index in November exceed forecast and rose to 9.1 points compared to previous figure -4.6 points in October
🇺🇸 U.S. Producer Price Index (12-mth) in October below forecast and dropped to 1.3% compared to previous figure 2.2% in September
🇪🇺 Euro Area Industrial Production seasonal adjustment. (1-mth) in September exceed forecast and dropped to -1.1% compared to previous figure 0.6% in August

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What can we expect from EURUSD today?

EURUSD on Thursday rose 0.07% to 1.08540. 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 1.08241 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08955 or trades above daily pivot 1.08598. Break above could target R1 at 1.08897. While to the downside, we are looking at 1.08241 (S1) and daily low of 1.08299 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.08955 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 1.58% over the past few days.

Key levels to watch out:

Daily Pivot1.08598

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