EURUSD on Thursday rose 0.22% to 1.09460. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday0.22%24.5 Pips
Week to-date-0.83%-91.4 Pips
January-0.83%-91.4 Pips

Upcoming key events (London Time)

Fri 07:00 AM EUR Retail Trade Turnover (12-mth)
Fri 10:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)
Fri 01:30 PM USD Average Hourly Earnings (12-mth)
Fri 01:30 PM USD Average Hourly Earnings (1-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇩🇪 Germany Harmonised Index of Consumer Prices (HICP) (12-mth) in December preliminary estimate rose to 3.8% compared to previous figure 2.3% in November Source: Destatis
🇺🇸 U.S. Challenger Job Cuts in December dropped to 34.817K compared to previous figure 45.51K in November
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in November below forecast and dropped to 8.79M compared to previous figure 8.852, revised from 8.733M in October Source: Bureau of Labor Statistics
🇩🇪 Germany Unemployment Change in December exceed forecast and dropped to 5K compared to previous figure 22K in November Source: Destatis

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What can we expect from EURUSD today?

EURUSD on Thursday rose 0.22% to 1.09460. Price is below 9-Day EMA while Stochastic is falling in oversold zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09172 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09722 or trades above daily pivot 1.09447. Break above could target R1 at 1.09735. While to the downside, we are looking at 1.09172 (S1) and daily low of 1.09159 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.09722 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.83%.

Key levels to watch out:

R31.10298
R21.1001
R11.09735
Daily Pivot1.09447
S11.09172
S21.08884
S31.08609

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