EURUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.58% | 63.9 Pips |  |
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| Week to-date | -0.11% | -12.5 Pips |  |
||
| September | -0.05% | -5.7 Pips | |
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Upcoming key events (London Time)
Fri 03:00 PM USD The Index of Consumer Sentiment| Sep flash
What happened lately
The U.S. Monthly Treasury Budget Statement in August dropped to -$380 billion compared to -$244 billion in July. Source: Bureau of the Fiscal Service 🇺🇸 In the week ending 07 September, U.S. Initial Unemployment Insurance Claims rose to 230K compared to previous figure 228K (revised from 227K) Source: Department of Labor 🇺🇸 U.S. Producer Price Index (12-mth) in August dropped to 1.7% compared to the revised July figure of 2.2%. Source: Bureau of Labor Statistics 🇺🇸 U.S. PPI excluding Food and Energy sectors (12-mth) remained unchanged at 2.4% in August compared to July’s report. Source: Bureau of Labor Statistics 🇺🇸 U.S. Producer Price Index (1-mth) for August rose to 0.2%, up from 0.1% in July. Source: Bureau of Labor Statistics In August, the U.S. PPI excluding Food and Energy sectors increased to 0.3% from the revised July figure of -0.2%. Source: Bureau of Labor Statistics
🇪🇺 Euro Area ECB Interest Rate on main refinancing operations (MRO) dropped to 3.65% compared to previous rate 4.25% Source: European Central Bank 🇺🇸 The U.S. Consumer Price Index (CPI) inflation rate for August remained steady at 0.2%, unchanged from the rate reported in July. Source: Bureau of Labor Statistics 🇺🇸 The U.S. CPI inflation rate over 12-month period for August decreased to 2.5% from 2.9% in July. Source: Bureau of Labor Statistics
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What can we expect from EURUSD today?
EURUSD on Thursday rose 0.58% to 1.10747. 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 1.10985 with break above could target R2 at 1.11222 or figure level area. While towards the downside, we are looking at daily low of 1.10052 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.10756 may suggest continuation after recent positive movement.
For the week to-date, take note that EURUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.11689 |
| R2 | 1.11222 |
| R1 | 1.10985 |
| Daily Pivot | 1.10518 |
| S1 | 1.10281 |
| S2 | 1.09814 |
| S3 | 1.09577 |
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