In today’s Asian market session, the euro maintained a stable position against the US dollar, hovering around the 1.0740 level. As for economic data, the Eurozone has no significant announcements scheduled for today. Conversely, the United States is poised to release Initial Jobless Claims data, which is keenly awaited by market participants.
Amid these market conditions, savvy investors leveraging cutting-edge AI technology have witnessed remarkable success. Specifically, this AI has enabled them to navigate the market effortlessly, achieving an impressive 34% return on investment within just the past 24 hours by adeptly anticipating market trends. Explore more about this technological advancement.
Image Description for Bloomberg News Blog: Design an image depicting a sleek, modern financial dashboard with the EUR/USD currency pair highlighted. The dashboard should feature graphs and digital indicators reflecting stability in the euro with potential fluctuations indicated by the upcoming US data release. The image should subtly integrate elements suggesting AI technology, such as neural network patterns or digital matrices, to signify the role of AI in financial forecasting.
Technical analysis
Time Frame: 1 hour
EURUSD Support & Resistance Table – 09/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.0777 | Daily R2 |
| Resistance 1 | 1.0762 | Daily R1 |
| Support 1 | 1.0724 | Daily S1 |
| Support 2 | 1.0709 | Daily S2 |
EURUSD Indicator Table – 09/05/2024
| 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 – 09/05/2024
| 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 09/05/2024 – Reference Price : 1.0743
| SELL | Simple Moving AverageBuy (2)Sell (1)Technical Indicators – OscillatorsBuy (1)Sell (2) |
👉Explore AI-powered Automated Trading Today! Register for a free trial now!
✅Read about the automated trading software on Investing.com
