{"id":1377,"date":"2024-05-06T15:17:55","date_gmt":"2024-05-06T15:17:55","guid":{"rendered":"https:\/\/thetalabmarketing.com\/?p=1377"},"modified":"2024-05-06T15:17:55","modified_gmt":"2024-05-06T15:17:55","slug":"eurusd-on-friday-rose-0-35-to-1-07609-week-ending-2024-05-03-rose-0-5-whats-going-on","status":"publish","type":"post","link":"https:\/\/thetalabmarketing.net\/?p=1377","title":{"rendered":"EURUSD on Friday rose 0.35% to 1.07609. Week ending 2024-05-03 rose 0.5%. What\u2019s going on."},"content":{"rendered":"\n<p>D<strong>ear\u00a0<\/strong>,<\/p>\n\n\n\n<p>As requested, let\u2019s look at EURUSD and the recent events that happened in the previous trading session.<\/p>\n\n\n\n<p><strong>EURUSD Analysis<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td colspan=\"6\"><strong>Performance<\/strong><\/td><\/tr><tr><td><strong>Period<\/strong><\/td><td><strong>Pct<\/strong><\/td><td><strong>Chg<\/strong><\/td><td><strong>Momentum<\/strong><\/td><\/tr><tr><td>Friday<\/td><td>0.35%<\/td><td>37.6 Pips<\/td><td><img decoding=\"async\" src=\"https:\/\/economicrecap.com\/images\/trend-up.jpg\" width=\"32px\"><\/td><\/tr><tr><td>Week 2024-05-03<\/td><td>0.5%<\/td><td>54 Pips<\/td><td><img decoding=\"async\" src=\"https:\/\/economicrecap.com\/images\/trend-up.jpg\" width=\"32px\"><\/td><\/tr><tr><td>May<\/td><td>0.89%<\/td><td>94.4 Pips<\/td><td><img decoding=\"async\" src=\"https:\/\/economicrecap.com\/images\/trend-up.jpg\" width=\"32px\"><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Upcoming key events for the new week (London Time)<\/strong><\/p>\n\n\n\n<p><img decoding=\"async\" src=\"https:\/\/economicrecap.com\/images\/flag\/DE.png\">&nbsp;<img decoding=\"async\" src=\"https:\/\/economicrecap.com\/images\/impact\/NONE.png\">&nbsp;Wed 11:00 PM Ascension Day<br><img decoding=\"async\" src=\"https:\/\/economicrecap.com\/images\/flag\/US.png\">&nbsp;<img decoding=\"async\" src=\"https:\/\/economicrecap.com\/images\/impact\/MEDIUM.png\">&nbsp;Thu 01:30 PM Initial Unemployment Insurance Claims<br><img decoding=\"async\" src=\"https:\/\/economicrecap.com\/images\/flag\/US.png\">&nbsp;<img decoding=\"async\" src=\"https:\/\/economicrecap.com\/images\/impact\/HIGH.png\">&nbsp;Fri 03:00 PM Michigan Index of Consumer Sentiment<\/p>\n\n\n\n<p><strong>What happened over the week<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u00a0U.S. Nonfarm Payroll Employment in April dropped to 175K compared to previous figure 315, revised from 303K in March Source: Bureau of Labor Statistics<\/li>\n\n\n\n<li>\u00a0Euro Area Unemployment Rate in March unchanged at 6.5% compared to previous report in February. Source: Eurostat<\/li>\n\n\n\n<li>\u00a0U.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<\/li>\n\n\n\n<li>\u00a0U.S. Unit Labor Costs in Q1 preliminary estimate rose to 0.4% compared to previous figure 0.4% Source: Bureau of Labor Statistics<\/li>\n\n\n\n<li>\u00a0In the week ending 27 April, Initial Unemployment Insurance Claims in U.S. was unchanged at 208K compared to previous figure 208K (revised from 207K) Source: Department of Labor<\/li>\n\n\n\n<li>\u00a0U.S. Challenger Job Cuts in April dropped to 64.789K compared to previous figure 90.309K in March<\/li>\n\n\n\n<li>\u00a0U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve<\/li>\n\n\n\n<li>\u00a0U.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<\/li>\n\n\n\n<li>\u00a0U.S. Housing Price Index (1-mth) in February rose to 1.2% compared to previous figure -0.1% in January<\/li>\n\n\n\n<li>\u00a0Euro Area GDP (seasonally adjusted) (12-mth) in Q1 flash estimate rose to 0.4% compared to previous figure 0.1% in Q4 Source: Eurostat<\/li>\n\n\n\n<li>\u00a0Euro Area Harmonised Index of Consumer Prices (HICP) (12-mth) in April flash estimate unchanged at 2.4% compared to previous report in March. Source: Eurostat<\/li>\n\n\n\n<li>\u00a0Germany Gross Domestic Product WDA (12-mth) in Q1 flash estimate dropped to -0.9% compared to previous figure -0.4% in Q4 Source: Federal Statistical Office (Destatis)<\/li>\n\n\n\n<li>\u00a0Germany Unemployment Rate seasonal adjustment. in April unchanged at 5.9% compared to previous report in March. Source: Destatis<\/li>\n\n\n\n<li>\u00a0Germany Retail Trade (1-mth) in March rose to 1.8% compared to previous figure -1.9% in February Source: Destatis<\/li>\n\n\n\n<li>\u00a0Germany CPI Inflation Rate (12-mth) in April flash estimate unchanged at 2.2% compared to previous report in March.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>What can we expect from EURUSD for the new week and what happened on Friday?<\/strong><\/p>\n\n\n\n<p>EURUSD on Friday&nbsp;rose&nbsp;0.35% to 1.07609. Price is above 9-Day EMA while Stochastic is rising. For the week ending 2024-05-03, the pair&nbsp;rose&nbsp;0.5% or 54 pips&nbsp;higher.<\/p>\n\n\n\n<p>Looking ahead on Monday, EURUSD looks bullish as the pair ended higher after Friday trading session.<\/p>\n\n\n\n<p>As for the new week, our technical outlook looks&nbsp;bullish, immediate upside resistance level at 1.08322 (WR1) with break above could target 1.09034 (WR2). On the downside, we are looking at week low of 1.06501 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.08124 would suggest bullish bias after recent positive movement.<\/p>\n\n\n\n<p>For the month of May, EURUSD is&nbsp;up by&nbsp;0.89% or 94.4 pips higher.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><a href=\"https:\/\/pricebreakout.com\/23fds49\/2024_0505_EURUSD.png\"><img decoding=\"async\" src=\"https:\/\/pricebreakout.com\/23fds49\/2024_0505_EURUSD.png\" alt=\"\"\/><\/a><\/figure><\/div>\n\n\n<p><strong>Weekly key levels to watch out:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>R3<\/strong><\/td><td>1.09945<\/td><\/tr><tr><td><strong>R2<\/strong><\/td><td>1.09034<\/td><\/tr><tr><td><strong>R1<\/strong><\/td><td>1.08322<\/td><\/tr><tr><td><strong>Weekly Pivot<\/strong><\/td><td>1.07411<\/td><\/tr><tr><td><strong>S1<\/strong><\/td><td>1.06699<\/td><\/tr><tr><td><strong>S2<\/strong><\/td><td>1.05788<\/td><\/tr><tr><td><strong>S3<\/strong><\/td><td>1.05076<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Dear\u00a0, As requested, let\u2019s look at EURUSD and the recent events that happened in the previous trading session. EURUSD Analysis Performance Period Pct Chg Momentum Friday 0.35% 37.6 Pips Week 2024-05-03 0.5% 54 Pips May 0.89% 94.4 Pips Upcoming key events for the new week (London Time) &nbsp;&nbsp;Wed 11:00 PM Ascension Day&nbsp;&nbsp;Thu 01:30 PM Initial [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1378,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-1377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-research"],"_links":{"self":[{"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/posts\/1377"}],"collection":[{"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1377"}],"version-history":[{"count":1,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/posts\/1377\/revisions"}],"predecessor-version":[{"id":1379,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/posts\/1377\/revisions\/1379"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/media\/1378"}],"wp:attachment":[{"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}