EURUSD on Thursday rose 0.15% to 1.09049. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday0.15%16.6 Pips
Week to-date-0.08%-8.9 Pips
November3.13%330.5 Pips

Upcoming key events (London Time)

Fri 10:00 AM EUR European Central Bank’s President Christine Lagarde speech

What happened lately

🇪🇺 Euro Area Consumer Confidence in November preliminary estimate unchanged at -17.9 points compared to previous report in October. DG ECFIN
🇺🇸 U.S. Michigan Index of Consumer Sentiment in November exceed forecast and rose to 61.3 points compared to previous figure 60.4 points in October University of Michigan
🇺🇸 U.S. UoM 5-year Consumer Inflation Expectation in November unchanged at 3.2% compared to previous report in October. The actual figure is also in line with the forecast University of Michigan
🇺🇸 U.S. Durable Goods Orders in October exceed forecast and dropped to -5.4% compared to previous figure 4.6, revised from 4.7% in September Census Bureau

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What can we expect from EURUSD today?

EURUSD on Thursday rose 0.15% to 1.09049. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08844 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09304 or trades above daily pivot 1.09074. Break above could target R1 at 1.09279. While to the downside, we are looking at 1.08844 (S1) and daily low of 1.08869 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.09304 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:

R31.09714
R21.09509
R11.09279
Daily Pivot1.09074
S11.08844
S21.08639
S31.08409

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Isabel Schnabel: Monetary policy in times of stubborn inflation. European Central Bank
Christine Lagarde: Monetary policy in the euro area: attentive and focused. European Central Bank
Minutes of the Federal Open Market Committee, October 31-November 1, 2023. Federal Reserve

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