In recent trading sessions within Asia, the Euro has exhibited an upward trajectory against the US Dollar, firmly positioning itself above the 1.0840 threshold.
This financial landscape is poised for further developments as the Eurozone is scheduled to unveil its Services Purchasing Managers’ Index (PMI) data shortly. Similarly, the United States is on the cusp of disclosing its Initial Jobless Claims figures. These economic indicators are pivotal, as they provide a snapshot of the service sector’s health and labor market trends, respectively, offering crucial insights into the broader economic health of these regions.
The anticipation surrounding these economic releases has generated a flurry of activity within the investment community. Astute investors and market analysts closely monitor these indicators, as they can significantly influence currency valuations and, by extension, investment strategies.
The interplay between the forthcoming economic indicators and advanced technological tools underscores a dynamic investment landscape. For the ordinary individual, understanding these elements can unveil opportunities to engage with the market more confidently and potentially realize significant gains.
Technical analysis
Time Frame: 1 hour
EURUSD Support & Resistance Table – 04/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.0885 | Daily R2 |
| Resistance 1 | 1.0868 | Daily R1 |
| Support 1 | 1.0822 | Daily S1 |
| Support 2 | 1.0805 | Daily S2 |
EURUSD Indicator Table – 04/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Neutral |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
EURUSD Indicator / Period Table – 04/04/2024
| Indicator / Period | Day – Buy | Week – Sell | Month – Sell |
| MACD( 12;26;9) | Neutral | Sell | Sell |
| RSI (14) | Buy | Neutral | Neutral |
| SMA 20 | Buy | Sell | Sell |
EURUSD 04/04/2024 – Reference Price : 1.0845
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (2)Sell (0) |
👉Explore AI-powered Automated Trading Today! Register for a free trial now!
✅Read about the automated trading software on Investing.com
