empty
en
Search
Support
Instant account opening
Trading Platform
Deposit/Withdraw
Search
P2P Exchange Financial Markets For Partners Forum About InstaSpot
en
For Traders
Forex Analysis
Technical analysis

06.05.202216:50 Forex Analysis & Reviews: EUR/USD Analysis on 6th May

Exchange Rates 06.05.2022 analysis

EUR/USD has lost its traction after having tested 1.0600 earlier in the day but managed to stay in positive territory above 1.0550. The data from the US confirmed that labor market conditions remain extremely tight in April with NFP rising more than 400K despite a decline in the participation rate.

The pair is trading near the static resistance of 1.0560, which is reinforced by the 50-period SMA on the four-hour chart, and a four-hour close above that level could open the door for a rebound toward 1.0600 (psychological level, Fibonacci 23.6% retracement level of the latest downtrend). Finally, 1.0660 (Fibonacci 38.2% retracement) forms the next significant resistance.

On the downside, 1.0540 (20-period SMA) aligns as interim support ahead of 1.0500 (psychological level and 1.0470 (multi-year low set on April April 26).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Jan Novotny,
Analytical expert of InstaSpot
© 2007-2025
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

See Also

Forex Analysis & Reviews
All analytics
Stock Markets
Hot forecast
Trading plan
Crypto-currencies
Trend line
Video analytics
Instrument:
EURUSD
GBPUSD
USDCHF
USDCAD
USDJPY
AUDUSD
GBPJPY
EURGBP
EURJPY
NZDUSD
EURNZD
Silver
Gold
#USDX
COVID-19
Bitcoin
Photonews
All Photonews
Forex News
  • 2025-04-07 05:31:55
    Vietnam Tourist Arrivals Rise 28.5% YoY in March
    Quick show
    2025-04-07 05:31:55
    Vietnam Inflation Rate Accelerates to 3.13%
    Quick show
    2025-04-07 05:31:55
    Vietnam Retail Sales Grow the Most in 22 Months
    Quick show
    2025-04-07 05:31:55
    Vietnam GDP Growth Weakest in A Year
    Quick show
    2025-04-07 05:31:55
    Vietnam Industrial Output Growth Eases Sharply
    Quick show
    2025-04-07 05:31:55
    Vietnam's Inflation Rate Turns Negative as CPI Slides in March
    Quick show
    2025-04-07 05:31:55
    Vietnam’s Retail Sales Surge: Hitting 10.8% in March 2025
    Quick show
    2025-04-07 05:31:55
    Vietnam's Industrial Production Growth Plummets to Half in March
    Quick show
    2025-04-07 05:31:55
    Vietnam's Foreign Direct Investment Booms by $2 Billion in March
    Quick show
    2025-04-07 05:31:55
    Vietnam's Trade Balance Triumph: Surplus Flips to 1.63 Billion USD in March
    Quick show
  • 2025-04-07 05:31:55
    Malaysia to Convene ASEAN Meeting on U.S. Tariffs
    Quick show
    2025-04-07 05:31:55
    Japan Foreign Reserves Hit 11-Month High
    Quick show
    2025-04-07 05:31:55
    Australian Dollar Drops on Recession Fears
    Quick show
    2025-04-07 05:31:55
    Safe-Haven Yen Remains Volatile Amid Global Trade Fears
    Quick show
    2025-04-07 05:31:55
    China Forex Reserves Largest in 4 Months
    Quick show
    2025-04-07 05:31:55
    Offshore Yuan Hits 2-Month Low
    Quick show
    2025-04-07 05:31:55
    Taiwan Stocks Enter Bear Market After U.S. Tariffs Hit
    Quick show
    2025-04-07 05:31:55
    Australia’s 10-Year Yield Hits 6-Month Low
    Quick show
    2025-04-07 05:31:55
    Gold Steadies After Sharp Selloff
    Quick show
    2025-04-07 05:31:55
    Dollar Index Stabilizes Amid Trade War Concerns
    Quick show
  • 2025-04-07 05:31:55
    Malaysia Stocks Slump to 18-Month Low
    Quick show
    2025-04-07 05:31:55
    China's 10-Year Bond Yield Nears 2-Month Low
    Quick show
    2025-04-07 05:31:55
    Hong Kong Shares Plummet to 2-Month Low on Mounting U.S.-China Trade War
    Quick show
    2025-04-07 05:31:55
    NZ Dollar Approaches Multi-Year Lows
    Quick show
    2025-04-07 05:31:55
    Japan PM Prepares U.S. Visit to Counter Trump’s Tariff Blow
    Quick show
    2025-04-07 05:31:55
    China's Foreign Exchange Reserves Climb Higher in March
    Quick show
    2025-04-07 05:31:55
    China Stocks Plunge as Trade War Escalates
    Quick show
    2025-04-07 05:31:55
    Australia Job Ads Improve in March
    Quick show
    2025-04-07 05:31:55
    Japan Nominal Wage Growth Accelerates in February
    Quick show
    2025-04-07 05:31:55
    Singapore Stocks Plunge to 4-Month Low
    Quick show
  • 2025-04-07 05:31:55
    Australian Job Market Makes a Comeback: ANZ Job Advertisements Rise in March
    Quick show
    2025-04-07 05:31:55
    Vietnam to Scrap U.S. Tariffs in Bid to Avoid Trump’s 46% Hit
    Quick show
    2025-04-07 05:31:55
    China Floats Policy Easing After Tariff Escalation
    Quick show
    2025-04-07 05:31:55
    Copper Extends Decline on Global Recession Fears
    Quick show
    2025-04-07 05:31:55
    South Korea Stocks Plunge to 17-Month Low
    Quick show
    2025-04-07 05:31:55
    Crude Oil Falls Below $60
    Quick show
    2025-04-07 05:31:55
    Bitcoin Sinks Below 78K Amid Global Market Turmoil
    Quick show
    2025-04-07 05:31:55
    ASX Falls More Than 6%
    Quick show
    2025-04-07 05:31:55
    Indonesia will not Retaliate Against Trump Tariff
    Quick show
    2025-04-07 05:31:55
    Japanese Shares Sink 8% Amid Tariff-Driven Rout
    Quick show
  • 2025-04-07 05:31:55
    Qatar Non-Oil Private Sector Growth at 3-Month High
    Quick show
    2025-04-07 05:31:55
    Gold Falls Below $3000
    Quick show
    2025-04-07 05:31:55
    US Futures Drop as Market Rout Deepens
    Quick show
    2025-04-07 05:31:55
    Japan's Foreign Reserves Experience Notable Increase in March 2025
    Quick show
    2025-04-07 05:31:55
    Japan's Average Cash Earnings Growth Slows Sharply in April
    Quick show
    2025-04-07 05:31:55
    Japan's Wage Growth Accelerates to 3.1% in February Amid Economic Recovery
    Quick show
    2025-04-07 05:31:55
    Japan Sees Dip in Overtime Pay Growth in February, Marking a Slowdown from January's Rates
    Quick show
    2025-04-07 05:31:55
    New Zealand Stocks Tumble to 8-Month Low
    Quick show
    2025-04-07 05:31:55
    FDI Into Vietnam Rises 7.2% in Q1
    Quick show
    2025-04-07 05:31:55
    Vietnam Trade Surplus Narrows in March
    Quick show
  • 2025-04-07 05:31:55
    Vietnam Tourist Arrivals Rise 28.5% YoY in March
    Quick show
    2025-04-07 05:31:55
    Vietnam Inflation Rate Accelerates to 3.13%
    Quick show
    2025-04-07 05:31:55
    Vietnam Retail Sales Grow the Most in 22 Months
    Quick show
    2025-04-07 05:31:55
    Vietnam GDP Growth Weakest in A Year
    Quick show
    2025-04-07 05:31:55
    Vietnam Industrial Output Growth Eases Sharply
    Quick show
    2025-04-07 05:31:55
    Vietnam's Inflation Rate Turns Negative as CPI Slides in March
    Quick show
    2025-04-07 05:31:55
    Vietnam’s Retail Sales Surge: Hitting 10.8% in March 2025
    Quick show
    2025-04-07 05:31:55
    Vietnam's Industrial Production Growth Plummets to Half in March
    Quick show
    2025-04-07 05:31:55
    Vietnam's Foreign Direct Investment Booms by $2 Billion in March
    Quick show
    2025-04-07 05:31:55
    Vietnam's Trade Balance Triumph: Surplus Flips to 1.63 Billion USD in March
    Quick show
  • 2025-04-07 05:31:55
    Malaysia to Convene ASEAN Meeting on U.S. Tariffs
    Quick show
    2025-04-07 05:31:55
    Japan Foreign Reserves Hit 11-Month High
    Quick show
    2025-04-07 05:31:55
    Australian Dollar Drops on Recession Fears
    Quick show
    2025-04-07 05:31:55
    Safe-Haven Yen Remains Volatile Amid Global Trade Fears
    Quick show
    2025-04-07 05:31:55
    China Forex Reserves Largest in 4 Months
    Quick show
    2025-04-07 05:31:55
    Offshore Yuan Hits 2-Month Low
    Quick show
    2025-04-07 05:31:55
    Taiwan Stocks Enter Bear Market After U.S. Tariffs Hit
    Quick show
    2025-04-07 05:31:55
    Australia’s 10-Year Yield Hits 6-Month Low
    Quick show
    2025-04-07 05:31:55
    Gold Steadies After Sharp Selloff
    Quick show
    2025-04-07 05:31:55
    Dollar Index Stabilizes Amid Trade War Concerns
    Quick show
Company News
All news
InstaForex – Prime Sponsor of Traders Fair Lagos 2025!

InstaForex – Prime Sponsor of Traders Fair Lagos 2025!

InstaForex is proud to announce its participation in Traders Fair Lagos 2025 – one of the biggest financial events in Africa. As the Prime Sponsor, we warmly invite all traders, investors, and partners to visit our booth for unique opportunities, exclusive bonuses, and expert consultations. Why you can’t miss this event Traders Fair Lagos 2025 is not just an exhibition. It is a global platform to connect with leading financial experts. This event brings together traders, brokers, analysts, and investors from all over the world to explore trends, strategies, and technologies shaping the future of financial markets.

Show more
Caricatures
All caricatures
Can't speak right now?
Ask your question in the chat.
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaSpot anyway.

We are sorry for any inconvenience caused by this message.