During today’s Asian market session, the Euro experienced a decline, positioning itself below the 1.0710 level against the US Dollar. This movement precedes significant economic releases scheduled for later in the day from both the Eurozone and the United States, which could potentially influence future trading dynamics.
The Eurozone is set to release its latest Consumer Price Index (CPI) data, a key indicator of inflationary trends which could impact the European Central Bank’s monetary policy decisions. Meanwhile, the U.S. is preparing to release its Consumer Confidence data, a vital measure that reflects the overall economic sentiment and spending capacity of American consumers. These figures are particularly scrutinized by investors for signs of economic resilience or concern which might influence the Federal Reserve’s approach to interest rates.
Given the crucial nature of these releases, savvy investors and traders, especially those utilizing advanced AI-driven tools, have noted the ability of such technology to accurately predict market movements and secure substantial returns. In fact, users of one such AI system reported generating a staggering 34% return on investment within the last 24 hours alone, leveraging this technology to navigate the complexities of forex trading with remarkable precision. For more details on how these AI solutions are shaping the future of trading, visit here.
Technical analysis
Time Frame: 1 hour
EURUSD Support & Resistance Table – 30/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.0737 | Daily R2 |
| Resistance 1 | 1.0719 | Daily R1 |
| Support 1 | 1.0673 | Daily S1 |
| Support 2 | 1.0655 | Daily S2 |
EURUSD Indicator Table – 30/04/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Buy |
| SMA 100 | Sell |
| MACD( 12;26;9) | Buy |
| RSI (14) | Sell |
| Stochastic ( 9;6;3) | Sell |
EURUSD Indicator / Period Table – 30/04/2024
| Indicator / Period | Day – Sell | Week – Sell | Month – Sell |
| MACD( 12;26;9) | Buy | Sell | Sell |
| RSI (14) | Sell | Neutral | Neutral |
| SMA 20 | Sell | Sell | Sell |
EURUSD 30/04/2024 – Reference Price : 1.0694
| SELL | Simple Moving AverageBuy (1)Sell (2)Technical Indicators – OscillatorsBuy (1)Sell (2) |
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