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
Time Frame: 1 hour
EURUSD Support & Resistance Table – 16/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.0918 | Daily R2 |
| Resistance 1 | 1.0901 | Daily R1 |
| Support 1 | 1.0859 | Daily S1 |
| Support 2 | 1.0842 | Daily S2 |
EURUSD Indicator Table – 16/05/2024
| 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 – 16/05/2024
| 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 16/05/2024 – Reference Price : 1.0881
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (2) |
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