EURUSD on Thursday rose 0.46% to 1.09490. What we know.

EURUSD Analysis

Performance after Thursday
Thursday0.46%50.4 Pips
Week to-date1.04%112.2 Pips
March1.33%143.7 Pips

Upcoming key events (London Time)

Fri 10:00 AM EUR GDP (seasonally adjusted) (3-mth)
Fri 10:00 AM EUR GDP (seasonally adjusted) (12-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 In the week ending 02 March, Initial Unemployment Insurance Claims in U.S. was unchanged at 217K compared to previous figure 217K (revised from 215K) Source: Department of Labor
🇺🇸 U.S. Nonfarm Business Labor Productivity in Q4 unchanged at 3.2% compared to previous report in Q3. Source: Bureau of Labor Statistics
🇪🇺 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. Challenger Job Cuts in February rose to 84.638K compared to previous figure 82.307K in January
🇩🇪 Germany Factory Orders seasonal adjustment. (1-mth) in January dropped to -11.3% compared to previous figure 12% (revised from 8.9%)
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in January dropped to 8.863M compared to previous figure 9.026M in December Source: Bureau of Labor Statistics

Latest from X (Twitter)

What can we expect from EURUSD today?

EURUSD on Thursday rose 0.46% to 1.09490. 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 1.09763 with break above could target R2 at 1.10036 or figure level area. While towards the downside, we are looking at daily low of 1.08677 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.09493 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 1.04% over the past few days.

Key levels to watch out:

Daily Pivot1.0922

Leave a comment

Your email address will not be published.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