In today’s Asian trading session, the euro maintained its position against the US dollar, hovering around the 1.0880 level.

Investors are closely watching the upcoming release of Consumer Price Index (CPI) inflation data from the Eurozone. This data is significant as it provides insights into the current level of inflation within the Eurozone economy.

Meanwhile, the United States is not expected to release any major economic data today, shifting the focus primarily towards developments in the Eurozone.

Opportunity Insights:

For traders and investors, the stability of the euro against the US dollar presents an opportunity to assess market sentiment and potential trading strategies.

If the CPI inflation data from the Eurozone exceeds expectations, indicating higher inflation levels, it could lead to a strengthening of the euro against the US dollar. On the other hand, weaker-than-expected inflation figures may exert downward pressure on the euro.

As always, traders should exercise caution and closely monitor economic indicators and market sentiment to make informed trading decisions.

Technical analysis

Euro - Dollar Analysis Technical analysis 18/03/2024

Time Frame: 1 hour

EURUSD Support & Resistance Table – 18/03/2024

Support & ResistanceLevelExplanation
Resistance 21.0918Daily R2
Resistance 11.0905Daily R1
Support 11.0869Daily S1
Support 21.0856Daily S2

EURUSD Indicator Table – 18/03/2024

IndicatorSignal
SMA 20Sell
SMA 50Sell
SMA 100Buy
MACD( 12;26;9)Sell
RSI (14)Buy
Stochastic ( 9;6;3)Buy

EURUSD Indicator / Period Table – 18/03/2024

Indicator / PeriodDay – SellWeek – BuyMonth – Buy
MACD( 12;26;9)SellBuySell
RSI (14)BuyBuyNeutral
SMA 20SellBuyBuy

EURUSD 18/03/2024 – Reference Price : 1.0888

SELLSimple Moving AverageBuy (1)Sell (2)Technical Indicators – OscillatorsBuy (2)Sell (1)

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