On Thursday, the EURUSD analysis went really well, as 1st Take Profit got hit @1.1195 and trade is still on its way to achieving its 2nd target of 1.1145.
Overall on Thursday, the market faced a quiet session and the pair hovered nearby the opening rate to finish at 1.1220, for a small gain of 3 pips or -0.02%. It continued trading in a daily trading range and soared only of 55 pips with a high of 1.1237 and a low of 1.1182.
Fundamentally, The German Prelim CPI Index evolved in at 0.1% that was better than anticipated, as the Spanish Flash CPI also surpassed expectations with a reading of 0.3% The German Unemployment Change was +1000 released as worse than expected. Whereas, the final U.S. GDP growth figure released at 1.45, greater than the initial figure.
Today on Friday, the investors are recommended to monitor the following events:
Euro-Zone Consumer Price Index 09:00
Euro-Zone Unemployment Rate 09:00
Personal Income 12:30
PCE Deflator (MoM) 12:30
Chicago Purchasing Manager 13:45
U. of Michigan Confidence 14:00
Baker Hughes U.S. Rig Count 17:00
On Friday, the EURUSD has come out of its consolidating range breaking below its strong support levels of 1.1185 as mentioned in the previous report. The market is now heading to words next target level of 1.1145.
Daily Trading Range:
1.1270 – 1.1025
Daily Support & Resistance Levels
Pivot Point: 1.1250
– Still Active Sell below @ 1.1250
o Take Profit:
1st @ 1. 1195 (Achieved) / 1.1145
o Stop Loss 1.1290