26.04.202115:21 Forex Analysis & Reviews: Trading Signal for EUR/USD for April 26 - 27, 2021: Sell Below 1.2090

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In the American pre-market, the EUR / USD pair is trading below the SMA of 21 according to the 1-hour chart. In the European session, it reached the highest level since February 26 at 1.2117. Failing to sustain above 1.2100, it initiated a pullback below the 21 SMA and below Murray's 6/8.

The US dollar USDX, reached a minimum of 90.62, zone of 4/8 Murray, the US dollar has cut losses and is trading at 90.85, after having fallen to a minimum since the beginning of March. The rise in Treasury yields is helping the dollar. The 10-year rate is at 1.58%, recovering from the drop of several days ago.

The upward trend in the medium term remains firm in the EUR / USD pair, given that in 4-hour charts it is located above the Ema of 200 located at 1.1901. This indicates that any retracement of the Euro could be a correction and give us opportunities to buy again.

In the short term, the eagle indicator is showing bearish signal, and it is likely that in the next few hours there will be a correction downward movement towards the support levels of the 200 EMA around 1.2023 which coincides with Murray's 5/8.

As long as the EUR / USD is trading below the strong resistance at 6/8 Murray, there is a possibility that the downward pressure will increase, and there could be a correction to 1.2023.

The market sentiment in the American pre-market shows that there are 68.14% of traders who are selling the EUR / USD pair. This is a sign that there could be a downward correction movement for a new upward momentum.

Support And Resistance Levels For April 26 - 27, 2021

Resistance (1) 1.2126

Resistance (2) 1.2149

Resistance (3) 1.2157

Support (1) 1.2045

Support (2) 1.2037

Support (3) 1.1991

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Trading tip for EUR/USD for April 26 - 27, 2021

Sell if pullback 1.2098 (SMA 21) with take profit at 1.2050 and 1.2023 (EMA 200), stop loss above 1.2137.

Sell below 1.2085 (SMA 21 and 6/8 of murray) with take profit at 1.2050 and 1.2023 (EMA 200), stop loss above 1.2127.

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