ADS Securities: April EURUSD weakness hints you should know

ADS Securities’ team of analysts provide April EURUSD weakness hints, as investors eye PMI data coming from the Eurozone. What is your forecast?

5 April, ADS Securities – The EURUSD pair posted mild gains for the second successive session yesterday as retail sales in the Eurozone rose at its fastest pace in four months in February and came in higher than market anticipations.

April EURUSD weakness hints

Early today, the pair witnessed an EMA 55 crossover from below, indicating the presence of bullish momentum in the coming session. However, currently the pair is trading with a negative showing, hinting at weakness in the coming session. Moreover, a potential breach below the EMA 55 might continue the bearish trend. Today, investors would keep an eye on the services PMI data of the Eurozone and Germany.

Key support is seen at the 1.0670 level, followed by the 1.0665 and 1.0660 levels. A breach below the latter might trigger downside momentum in the pair. On the flipside, key resistance is placed at the 1.0675 level, followed by the 1.0680 and 1.0690 levels.

April EURUSD weakness hints

ADS Securities Risk Disclaimer

This technical analysis about EURUSD is intended solely for the person or entity to whom it is addressed. Such person or entity is prohibited from disseminating, distributing, transmitting or forwarding this communication to any other person or entity. Also, this communication may not be used in whole or in part by any person or entity. Which it was not originally directed to by ADS Securities LLC (“ADSS”, “us” or “we”). Trading foreign exchange, foreign exchange options, foreign exchange forwards, contracts for difference, bullion and other over-the-counter products carries a high level of risk. Hence, it may not be suitable for all investors.

All opinions, news, analysis, prices or other information contained in this communication are provided as general market commentary. It does not constitute investment advice. Nor a solicitation or recommendation for you to buy or sell any over-the-counter product or another financial instrument.

Share Your Opinion, Write a Comment