EURUSD on Thursday dropped -0.56% to 1.08861. What we know.

EURUSD Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday-0.56%-61.8 Pips
Week to-date-0.48%-52 Pips
March0.75%80.8 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Monthly Retail Trade (1-mth) in February rose to 0.6% compared to previous figure -0.8% in January Source: Census Bureau
🇺🇸 U.S. PPI excluding Food and Energy sectors (12-mth) in February unchanged at 2% compared to previous report in January.

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What can we expect from EURUSD today?

EURUSD on Thursday dropped -0.56% to 1.08861. 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 1.08466 with break below could see further selling pressure towards S2 at 1.08071. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.10000 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.08838 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:

R31.1079
R21.10395
R11.09628
Daily Pivot1.09233
S11.08466
S21.08071
S31.07304

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