EURUSD on Thursday rose 1.08% to 1.09920. What we know.

EURUSD Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday1.08%117.8 Pips
Week to-date2.15%231.2 Pips
December0.97%105.9 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 In the week ending 09 December, U.S. Initial Unemployment Insurance Claims dropped to 202K compared to previous figure 220K Source: Department of Labor
🇺🇸 U.S. Monthly Retail Trade (1-mth) in November exceed forecast and rose to 0.3% compared to previous figure -0.2, revised from -0.1% in October Source: Census Bureau
🇪🇺 Euro Area ECB Interest Rate on main refinancing operations (MRO) unchanged at 4.5% compared to previous rate 4.5% Source: European Central Bank
🇺🇸 U.S. Interest Rate Projections – Longer unchanged at 2.5% compared to previous rate 2.5%
🇺🇸 U.S. Interest Rate Projections – 3rd year unchanged at 2.9% compared to previous rate 2.9%
🇺🇸 U.S. Interest Rate Projections – 2nd year dropped to 3.6% compared to previous rate 3.9%
🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
🇺🇸 U.S. Interest Rate Projections dropped to 5.4% compared to previous rate 5.6%
🇺🇸 U.S. Interest Rate Projections – 1st year dropped to 4.6% compared to previous rate 5.1%
🇺🇸 U.S. Producer Price Index (12-mth) in November below forecast and dropped to 0.9% compared to previous figure 1.2, revised from 1.3% in October
🇺🇸 U.S. Producer Price Index (1-mth) in November below forecast and rose to 0% compared to previous figure -0.4, revised from -0.5% in October
🇪🇺 Euro Area Industrial Production seasonal adjustment. (1-mth) in October exceed forecast and improved to -0.7% compared to previous figure -1, revised from -1.1% in September

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What can we expect from EURUSD today?

EURUSD on Thursday rose 1.08% to 1.09920. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for EURUSD looks bullish as the pair ended higher after Thursday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.10412 with break above could target R2 at 1.10905 or figure level area. While towards the downside, we are looking at daily low of 1.08787 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.10092 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 2.15% over the past few days.

Key levels to watch out:

R31.11717
R21.10905
R11.10412
Daily Pivot1.096
S11.09107
S21.08295
S31.07802

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