In the latest session from the Asian markets, the Euro witnessed a minor decline against the US Dollar, positioning itself beneath the 1.0830 level. This subtle movement highlights the ever-present volatility and nuanced shifts within the forex trading environment.
On the horizon for today, the Eurozone stands quiet with no significant economic announcements expected. Conversely, the attention of investors and market analysts alike shifts towards the United States, which is slated to unveil its Nonfarm Payrolls and Unemployment Rate figures. These metrics are pivotal, offering deep insights into the labor market’s health and, by extension, the broader economic landscape. Such data not only influences currency valuations but also shapes investor sentiment and policy decisions.
Technical analysis
Time Frame: 1 hour
EURUSD Support & Resistance Table – 05/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.0864 | Daily R2 |
| Resistance 1 | 1.0847 | Daily R1 |
| Support 1 | 1.0803 | Daily S1 |
| Support 2 | 1.0786 | Daily S2 |
EURUSD Indicator Table – 05/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Sell |
| MACD( 12;26;9) | Buy |
| RSI (14) | Neutral |
| Stochastic ( 9;6;3) | Sell |
EURUSD Indicator / Period Table – 05/04/2024
| Indicator / Period | Day – Buy | Week – Sell | Month – Sell |
| MACD( 12;26;9) | Buy | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| SMA 20 | Buy | Sell | Sell |
EURUSD 05/04/2024 – Reference Price : 1.0825
| BUY | Simple Moving AverageBuy (2)Sell (1)Technical Indicators – OscillatorsBuy (1)Sell (1) |
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