EURUSD on Thursday rose 0.19% to 1.07296. Pair in consolidation. What we know.

Dear ,

As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.

EURUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.19%	20 Pips
Week to-date	0.35%	37.4 Pips
May	0.57%	60.6 Pips

Upcoming key events (London Time)

  Fri 01:30 PM USD Average Hourly Earnings (1-mth)
  Fri 01:30 PM USD Average Hourly Earnings (12-mth)
  Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

  U.S. Factory Orders (1-mth) in March rose to 1.6% compared to previous figure 1.2, revised from 1.4% in February Source: Census Bureau
  U.S. Unit Labor Costs in Q1 preliminary estimate rose to 0.4% compared to previous figure 0.4% Source: Bureau of Labor Statistics
  U.S. Challenger Job Cuts in April dropped to 64.789K compared to previous figure 90.309K in March
  U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
  U.S. Job Openings and Labor Turnover Survey (JOLTS) in March dropped to 8.488M compared to previous figure 8.813, revised from 8.756M in February Source: Bureau of Labor Statistics

What can we expect from EURUSD today?

EURUSD on Thursday rose 0.19% to 1.07296. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.06923 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07304 or trades above daily pivot 1.07113. Break above could target R1 at 1.07487. While to the downside, we are looking at 1.06923 (S1) and daily low of 1.06740 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.07304 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: