For Traders

Analytical Reviews

Technical analysis

26.04.202405:01 Forex Analysis & Reviews: Forecast for EUR/USD on April 26, 2024

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/USD

Yesterday, it was difficult for the euro to close the day with a white candle, under pressure due to the high volatility of the stock market. The pair has reached the target level of 1.0724, and the next target is 1.0757.

The current position of the Marlin oscillator, which is becoming more flat every day, indicates a low probability that the price will climb above 1.0757, just as Marlin itself is not averse to a downward reversal from the zero line. A sign of such a reversal will be the price consolidating below the level of 1.0724. We are waiting for the price to trade in the 1.0636/56 range.

On the 4-hour chart, the signal line of the Marlin oscillator has already tried to move out of the consolidation range by moving downward on Thursday. At the same time, a divergence with the price was formed. These circumstances reduce the chance of even working off the nearest resistance at 1.0757. The choice will become clear on Monday morning.

Back to the list

Open trading account

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