During today’s Asian trading session, the Euro saw an appreciable rise against the US Dollar, moving above the 1.0650 threshold. This upward trend comes as investors position themselves ahead of significant economic releases scheduled for later in the day from both the Eurozone and the United States.
The Eurozone is set to release its Industrial Production data, a critical indicator that provides insights into the health and trajectory of the manufacturing sector across the 19-nation bloc. Concurrently, the United States is gearing up to publish its Retail Sales figures, which are pivotal in gauging consumer spending trends and overall economic momentum.
These forthcoming data releases have heightened market sensitivity, as they may offer vital clues about the economic outlook in both regions, influencing currency valuation and investor strategies. Such economic indicators are especially significant in the current environment, where global markets remain keenly attuned to signs of economic strength or weakness.
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As today progresses, the focus will undoubtedly be on how these economic reports will sway market sentiment. Traders and investors will be watching closely, using every piece of data to refine their strategies in an ever-evolving financial landscape.
Technical analysis
Time Frame: 1 hour
EURUSD Support & Resistance Table – 15/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.0702 | Daily R2 |
| Resistance 1 | 1.0682 | Daily R1 |
| Support 1 | 1.0630 | Daily S1 |
| Support 2 | 1.0610 | Daily S2 |
EURUSD Indicator Table – 15/04/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Sell |
| SMA 100 | Sell |
| MACD( 12;26;9) | Sell |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
EURUSD Indicator / Period Table – 15/04/2024
| Indicator / Period | Day – Sell | Week – Sell | Month – Sell |
| MACD( 12;26;9) | Sell | Sell | Sell |
| RSI (14) | Buy | Sell | Neutral |
| SMA 20 | Sell | Sell | Sell |
EURUSD 15/04/2024 – Reference Price : 1.0655
| SELL | Simple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (2)Sell (1) |
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