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

Euro - Dollar Analysis Technical analysis 15/05/2024

Time Frame: 1 hour

EURUSD Support & Resistance Table – 15/05/2024

Support & ResistanceLevelExplanation
Resistance 21.0815Daily R2
Resistance 11.0840Daily R1
Support 11.0808Daily S1
Support 21.0797Daily S2

EURUSD Indicator Table – 15/05/2024

IndicatorSignal
SMA 20Buy
SMA 50Buy
SMA 100Buy
MACD( 12;26;9)Buy
RSI (14)Neutral
Stochastic ( 9;6;3)Buy

EURUSD Indicator / Period Table – 15/05/2024

Indicator / PeriodDay – BuyWeek – BuyMonth – Sell
MACD( 12;26;9)BuySellSell
RSI (14)NeutralNeutralNeutral
SMA 20BuyBuySell

EURUSD 15/05/2024 – Reference Price : 1.0826

BUYSimple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (2)Sell (0)

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