During the Asian trading session, the Euro experienced a dip against the US Dollar, falling beneath the 1.0710 threshold. As financial markets await key economic data, the currency’s movement reflects broader market sentiments and strategic positioning by investors.
Today, the Eurozone is poised to release its Consumer Price Index (CPI) data, a critical indicator that measures inflation and influences the European Central Bank’s monetary policy decisions. This data is keenly watched by traders for signs of inflation trends which could sway future policy adjustments.
Simultaneously, the United States is scheduled to unveil its Consumer Confidence index. This metric is essential as it provides insights into consumer sentiment and spending behavior, which are pivotal in assessing the economic health of the nation. A robust consumer confidence reading could bolster the US Dollar, as it suggests potential resilience in economic activities.
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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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