EURUSD on Thursday dropped -0.32% to 1.08031. End February down by -0.14% or -14.9 pips lower. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday-0.32%-34.6 Pips
Week to-date-0.15%-15.7 Pips
February-0.14%-14.9 Pips

Upcoming key events (London Time)

Fri 10:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)

What happened lately

🇺🇸 U.S. Personal Consumption Expenditures – Price Index (1-mth) in January rose to 0.3% compared to previous figure 0.2% in December
🇺🇸 U.S. Personal Income (1-mth) in January rose to 1% compared to previous figure 0.3% in December Source: Bureau of Economic Analysis
🇩🇪 Germany CPI Inflation Rate (1-mth) in February flash estimate rose to 0.4% compared to previous figure 0.2% in January
🇩🇪 Germany Unemployment Change in February rose to 11K compared to previous figure -2K in January Source: Destatis
🇩🇪 Germany Retail Trade Turnover (12-mth) in January improved to -1.4% compared to previous figure -1.7% in December Source: Destatis
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q4 flash estimate rose to 2.1% compared to previous figure 2% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. GDP Annualized in Q4 flash estimate dropped to 3.2% compared to previous figure 3.3% in Q3 Source: Bureau of Economic Analysis
🇪🇺 Euro Area Economic Sentiment Indicator in February dropped to 95.4 points compared to previous figure 96.2 points in January

Latest from X (Twitter)


What can we expect from EURUSD today?

EURUSD on Thursday dropped -0.32% to 1.08031. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.07805 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08560 or trades above daily pivot 1.08182. Break above could target R1 at 1.08409. While to the downside, we are looking at 1.07805 (S1) and daily low of 1.07956 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.07956 would indicate selling pressure.

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

EURUSD ended month of February trading session down by -0.14% or -14.9 pips lower.

Key levels to watch out:

R31.09013
R21.08786
R11.08409
Daily Pivot1.08182
S11.07805
S21.07578
S31.07201

Leave a comment

Your email address will not be published. Required fields are marked *