EURUSD on Thursday dropped -0.22% to 1.0665. Pair in consolidation. What you need to know before the next trade.



Thursday
Open High Low Close
1.06913 1.07223 1.06530 1.06647
Performance after Thursday
Period Pct Chg Momentum
Thursday -0.22% -23.3 Pips
Week to-date -0.10% -10.7 Pips
February -1.82% -197.9 Pips

Upcoming key events (London Time)

No further events

What happened lately

📆 🇺🇸 USD Philadelphia Fed Manufacturing Survey in February below forecast and dropped to -24.3 points compared to previous figure -8.9 points in January. Source
📆 ☢️ 🇺🇸 USD Retail Sales Control Group in January exceed forecast and rose to 1.7% compared to previous figure -0.7% in December. Source
📆 ☢️ 🇺🇸 USD Consumer Price Index ex Food & Energy (YoY) in January exceed forecast and dropped to 5.6% compared to previous figure 5.7% in December. Source
📆 ☢️ 🇪🇺 EUR Gross Domestic Product s.a. (QoQ) in Q4 preliminary estimate unchanged at 0.1% compared to previous report in Q3. The actual figure is also in line with the forecast. Source


What can we expect from EURUSD today?

EURUSD on Thursday dropped -0.22% to 1.0665. Price is below 9-Day EMA while Stochastic is falling but in oversold zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.06377 (S1).

Looking ahead today, we are looking at 1.0744 or 1.07070 (R1) as important resistance level while to the downside, the daily low of 1.0653 and 1.06377 (S1) as key support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.0653 would indicate selling pressure.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.10%.

Key levels to watch out:

R3 1.07763
R2 1.07493
R1 1.07070
Daily Pivot 1.06800
S1 1.06377
S2 1.06107
S3 1.05684

You might also be interested in:

Fabio Panetta: Monetary policy after the energy shock Source: European Central Bank
New Residential Construction Source: Census Bureau
In Q4 2022, collective tourist attendance was 2.0% higher than its Q4 2019 level Source: INSEE
Manufacturing and Trade Inventories and Sales Source: Census Bureau
Advanced Monthly Sales for Retail and Food Services Source: Census Bureau
Industrial production down by 1.1% in the euro area and by 0.4% in the EU Source: Eurostat
Euro area international trade in goods deficit €8.8 bn Source: Eurostat
Construction of buildings indices, Civil engineering indices and miscellaneous indices for construction in December 2022 Source: INSEE
GDP up by 0.1% and employment up by 0.4% in the euro area Source: Eurostat
CPI for all items rises 0.5% in January as shelter increases Source: Bureau of Labor Statistics Publications
In Q4 2022, the unemployment rate was virtually stable at 7.2% Source: INSEE

Last updated: 11:32 pm UTC, 16-Feb 2023

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