In today’s Asian market session, the Euro experienced a slight decline against the US Dollar, positioning itself under the 1.0790 threshold. This minor pullback reflects the market’s anticipation of significant economic releases. While the Eurozone has no major economic announcements scheduled for today, all eyes are on the United States where the Producer Price Index (PPI) data is due for release. This indicator is critical as it helps gauge inflation from the perspective of product sellers, which can influence monetary policy decisions.
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Technical analysis
Time Frame: 1 hour
EURUSD Support & Resistance Table – 14/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.0811 | Daily R2 |
| Resistance 1 | 1.0800 | Daily R1 |
| Support 1 | 1.0768 | Daily S1 |
| Support 2 | 1.0757 | Daily S2 |
EURUSD Indicator Table – 14/05/2024
| 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 – 14/05/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Sell |
| MACD( 12;26;9) | Buy | Sell | Sell |
| RSI (14) | Sell | Neutral | Neutral |
| SMA 20 | Buy | Buy | Sell |
EURUSD 14/05/2024 – Reference Price : 1.0784
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (2) |
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