For Traders

Analytical Reviews

Technical analysis

28.04.202114:03 Forex Analysis & Reviews: EUR/USD analysis for April 28 2021 - Potential for the downside breakout and test of 1.1955

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.

Further Development

Analyzing the current trading chart of EUR/USD, I found that there is the early signal for the downside movement casue of the breakout of the upside channel.

The confirmation for the downside movement will be if the price breaks the level of 1.2055.In that case, watch for selling opportunities on the rallies with the downside target at 1.2000 and 1.1955.

Additionally, the Stochastic oscillator is in the bearish mode and it is not in the oversold zone, which is good sing for downside continuation...

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.