EUR/USD Weekly Analysis 03 May 2017

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CHARTING

The crucial points are:

1

After the fierce bullish gap on the opening of the previous week, EUR/USD has held a neutral stance, with investors awaiting the second round of the French Presidential elections. Thus, the currency pair has been fluctuating in last days, within a range from 1.08600 level of support to 1.09300 level of resistance. However, this neutral situation is likely to change today, with the printing of the ADP nonfarm employment change. Furthermore, the FOMC interest rate decision is to be announced today, with investors expecting that the monetary policy will remain unchanged, but they anticipate further information about the course of Fed’s monetary policy, from the decision statement that will follow.

Charting outcome: Neutral   

INDICATORS (computerized T.A)

The crucial points are:

2

3

The indicators are singling that an uptrend has occurred, which is likely to become stronger. The moving averages have kept the same positive slopes, while both the positive and the negative dynamic have fallen. The trend dynamic has fiercely risen by +49.63%, whilst the market’s volatility has marginally fallen by -2.85%. Finally, the oscillators have remained in heavily overbought levels.

Indicators outcome: Marginally bullish – Bullish     

CONCLUSION

Indicators and charting are not in agreement about which direction the trend is likely to follow, which indicators suggesting the positive outlook, while the charting suggests the neutral outlook. Thus, if the price appreciates higher than 1.09300 level of resistance, the next resistance is possible to be at 1.10000 level. On the contrary, if the price reaches and breaks lower than 1.08600 level, the next support could possibly be located at 1.07900 level.

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