EUR/USD (week of 26-30/04)

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Weekly Summary

New 2 months high for Euro/Dollar at 1.215 .

EUR/USD remains in the 1.202 range after starting the week at 1.2103 and dropping 82 pips.

This downslide might be related to financial indicators data published earlier as Germany's Unemployment Change fell short of the -10,000 projections, at 9,000 and continued its downward trajectory from the previous figure of -6,000. The Germany Business Climate Index released earlier shows an improvement to 96.8 from the preceding data of 96.6, but falls short of the projected 97.8.

In the meantime, negative performances are also seen in other symbols, GBP/CAD fell to 1.7, hitting a 4 month low. At 1.3228, USD/SGD is down to its lowest value in 2 months.

However, positive performance can be seen looking at other symbols, as the Kiwi hits 0.7286, highest price in 2 months.

At the same time,

Apr. 30, 2021

Euro/Dollar goes down to 1.202 (down 99 pips) after starting the day at 1.212

(23:00) GMT

The EUR/USD crashed after losing 99 pips, breaking down to 1.202.

This downslide might be related to financial indicators data published earlier as Germany Unemployment Change published yesterday at 7:55 AM came out at 9,000, falling short of the -10,000 projections and continuing its decline from the previous -6,000 figure.

Meanwhile, Euro Zone CFTC EUR speculative net positions were released today at 7:30 PM with a figure of 81,000, This is better than the previous number of 80,800. Data for Euro Zone GDP released today at 9:00 AM came out at -1.8, beating projections of -2 and showing improvement over the preceding figure of -4.9.

As the day reaches an end, a chart visual study suggests the Euro's nearest support level is at 1.1718. In terms of trend indicators, we can see that at 1.2071, Euro/Dollar made an initial breakout below the 10 day Simple Moving Average, an indication of a negative trend. Medium-term trend indication has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. This occurs as the MACD line crosses below the MACD signal line.

Overall, looking at the technical analysis landscape, it seems the Euro/Dollar is likely to continue pointing down in the short term.

In the meantime, negative performances are also seen in other symbols, The British Pound dropped 138 pips, making its largest single-day fall since September 2020.

However, positive performance can be seen looking at other symbols as GBP/CAD drops below the 1.71 level for the first time in 4 months.

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