In today’s Asian trading session, the Euro held its ground against the US Dollar, consistently trading near the 1.0880 level. This stability comes on a day with no major data releases from the Eurozone, placing more focus on upcoming economic indicators from the United States. Particularly, the financial markets are keenly awaiting the release of the Initial Jobless Claims data from the U.S., which could influence currency volatility.

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Technical analysis

Euro - Dollar Analysis Technical analysis 16/05/2024

Time Frame: 1 hour

EURUSD Support & Resistance Table – 16/05/2024

Support & ResistanceLevelExplanation
Resistance 21.0918Daily R2
Resistance 11.0901Daily R1
Support 11.0859Daily S1
Support 21.0842Daily S2

EURUSD Indicator Table – 16/05/2024

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

EURUSD Indicator / Period Table – 16/05/2024

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

EURUSD 16/05/2024 – Reference Price : 1.0881

BUYSimple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (2)

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