EURUSD on Thursday dropped -0.35% to 1.08458. What we know.

EURUSD Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday-0.35%-38.5 Pips
Week to-date-0.46%-50.2 Pips
January-1.74%-191.6 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)

What happened lately

🇺🇸 U.S. Gross Domestic Product Price Index in Q4 preliminary estimate below forecast and dropped to 1.5% compared to previous figure 3.3% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q4 preliminary estimate unchanged at 2% compared to previous report in Q3. The actual figure is also in line with the forecast Source: Bureau of Economic Analysis
🇺🇸 U.S. Durable Goods Orders excluding Transportation in December exceed forecast and rose to 0.6% compared to previous figure 0.4, revised from 0.5% in November 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
🇩🇪 Germany ifo Current Assessment in January below forecast and dropped to 87 points compared to previous figure 88.5 points in December Source: ifo Institute
🇪🇺 Euro Area HCOB Eurozone Manufacturing PMI in January preliminary estimate exceed forecast and rose to 46.6 points compared to previous figure 44.4 points in December

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What can we expect from EURUSD today?

EURUSD on Thursday dropped -0.35% to 1.08458. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at S1 1.08109 with break below could see further selling pressure towards S2 at 1.07759. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.09018 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.08214 would indicate selling pressure.

For the week to-date, take note that EURUSD is mixed as compared to the prior week.

Key levels to watch out:

R31.09717
R21.09367
R11.08913
Daily Pivot1.08563
S11.08109
S21.07759
S31.07305

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