In today’s Asian trading session, the euro experienced a downturn against the US dollar, dipping beneath the 1.0740 threshold. Today, the economic calendar remains light, with no significant data releases scheduled either from the Eurozone or the United States. This lack of major economic announcements typically leads to reduced volatility; however, investors remain vigilant, utilizing advanced tools to navigate the markets. Remarkably, users of a specific AI technology have been able to autonomously predict market trends, achieving an impressive 34% return on investment within just the last 24 hours. Learn more about this AI technology.
Technical analysis
Time Frame: 1 hour
EURUSD Support & Resistance Table – 08/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.0781 | Daily R2 |
| Resistance 1 | 1.0763 | Daily R1 |
| Support 1 | 1.0715 | Daily S1 |
| Support 2 | 1.0697 | Daily S2 |
EURUSD Indicator Table – 08/05/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Sell |
| Stochastic ( 9;6;3) | Sell |
EURUSD Indicator / Period Table – 08/05/2024
| 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 08/05/2024 – Reference Price : 1.0739
| SELL | Simple Moving AverageBuy (2)Sell (1)Technical Indicators – OscillatorsBuy (1)Sell (2) |
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