CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.91% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your money. Read full risk warning.
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Euro - Dollar Analysis

EU Session Analysis for CFD Instruments 06/05/2021

Fundamental analysis

06 May, 2021

The Eurodollar currency pair was broadly unchanged, at around 1.2004 levels during the Asian session this morning. The Euro traded lower on Wednesday. German Composite PMI and Services PMI for April came in at 55.8 and 49.9 respectively. French Services PMI for April landed on 50.3.the Eurozone Composite and Services PMI for April both printed just above their forecasts at 53.8 and 50.5. In the United States, the ADP Nonfarm Payroll Change for April fell short of its estimate. It printed at 742,000, the forecast was 800,000 jobs created. The U.S. ISM Services PMI for April also missed. It was 62.7. Analysts had expected 64.3.

Technical analysis

Euro - Dollar Analysis Technical analysis 06/05/2021
Time Frame: 1 hour

EURUSD Support & Resistance Table - 06/05/2021

Support & Resistance Level Explanation
Resistance 2 1.2051 Daily R2
Resistance 1 1.2032 Daily R1
Support 1 1.1980 Daily S1
Support 2 1.1961 Daily S2

EURUSD Indicator Table - 06/05/2021

Indicator Signal
SMA 20 Sell
SMA 50 Sell
SMA 100 Sell
MACD( 12;26;9) Sell
RSI (14) Buy
Stochastic ( 9;6;3) Buy

EURUSD Indicator / Period Table - 06/05/2021

Indicator / Period Day - SellWeek - BuyMonth - Buy
MACD( 12;26;9) Sell SellBuy
RSI (14) Buy NeutralBuy
SMA 20 Sell BuyBuy

EURUSD 06/05/2021 - Reference Price : 1.2006

Sell
Simple Moving AverageBuy (0)Sell (3)
Technical Indicators - OscillatorsBuy (2)Sell (1)
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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk. See full risk warning

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.91% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Fortrade Cyprus Ltd is regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 385/20. CFD products may not be suitable for all clients, therefore ensure, that you understand the risks involved and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

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