In today’s Asian market session, the Euro maintained its level against the US Dollar, consistently trading at approximately 1.0770. Today stands out as a quieter day in terms of economic announcements, with no significant data releases scheduled either from the Eurozone or the United States. This period of low data flow offers a stable backdrop for the currency pair, allowing traders to reflect on previous economic insights and prepare for future volatilities. Notably, amidst this tranquility, savvy investors leveraging advanced AI technologies have reported exceptional outcomes; specifically, users of a particular AI system have experienced a 34% return on investment automatically over the last 24 hours, demonstrating the power of predictive analytics in currency trading. To explore more about this technology, click here.
Technical analysis
Time Frame: 1 hour
EURUSD Support & Resistance Table – 07/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.0809 | Daily R2 |
| Resistance 1 | 1.0789 | Daily R1 |
| Support 1 | 1.0735 | Daily S1 |
| Support 2 | 1.0715 | Daily S2 |
EURUSD Indicator Table – 07/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Sell |
| Stochastic ( 9;6;3) | Sell |
EURUSD Indicator / Period Table – 07/05/2024
| Indicator / Period | Day – Buy | Week – Sell | Month – Sell |
| MACD( 12;26;9) | Buy | Sell | Sell |
| RSI (14) | Sell | Neutral | Neutral |
| SMA 20 | Buy | Sell | Sell |
EURUSD 07/05/2024 – Reference Price : 1.0757
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (2) |
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