In today’s Asian market session, the euro gained strength, trading just above the 1.0820 level against the US Dollar. Investors are closely watching the economic indicators, as the Eurozone is set to release its GDP data for the first quarter of 2024. This release is highly anticipated, as it provides crucial insights into the economic health of the region. Simultaneously, market participants are also preparing for significant economic news from the United States, where the Consumer Price Index (CPI) data is due for release. These figures are pivotal as they could influence future monetary policy decisions.
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Technical analysis
Time Frame: 1 hour
EURUSD Support & Resistance Table – 15/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.0815 | Daily R2 |
| Resistance 1 | 1.0840 | Daily R1 |
| Support 1 | 1.0808 | Daily S1 |
| Support 2 | 1.0797 | Daily S2 |
EURUSD Indicator Table – 15/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Neutral |
| Stochastic ( 9;6;3) | Buy |
EURUSD Indicator / Period Table – 15/05/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Sell |
| MACD( 12;26;9) | Buy | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| SMA 20 | Buy | Buy | Sell |
EURUSD 15/05/2024 – Reference Price : 1.0826
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (2)Sell (0) |
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