Daily Market Analysis 6 May 2022

Daily Market Analysis 6 May 2022

  • Market News
  • Daily Market News
  • 2022, 06 May

EUR/USD

Technical Outlook

EUR/USD dragged lower after struggling to sustain above the resistance near 1.0540. The spot witnessed a sheer downside after facing rejection from the crucial resistance barricade near $1.0645.

A firmer USD keeps pressure in place in EURO


Technical Indicators
Action
RSI (33)
SELL
Oscillator (12)
SELL
MACD (Below Midline)
SELL
200 EMA (1.1272)
SELL


Strategy

Action
Sell
Entry
1.0520
Target 1
1.0480
Target 2
1.0450 
Stop Loss
1.0550


Key Signposts

EUR: No key data


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