For Traders

Analytical Reviews

Technical analysis

30.04.202005:05 Forex Analysis & Reviews: Forecast for EUR/USD on April 30, 2020

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

The euro almost imperceptibly reacted to the Fed's neutral monetary policy decision on Wednesday. Tuesday's high was not overcome, but the euro is declining this morning. The signal line of the Marlin oscillator touched the boundary of the growth territory and showed a downward turn from it on the daily chart.

The magnetic point formed by the intersection of the MACD line and the price channel of 1.0935 may not be reached. The condition for starting the euro's medium-term decline will be for the price to go below the April 6 low (1.0768).

The price once again failed to overcome the resistance of the MACD line on the four-hour chart, staying in the accumulation band of the second half of April. The signal line of the Marlin oscillator formed a small triangle, going down from it will strengthen the fall of the indicator and price.

So, our expectation remains the same - with the price going below the signal level of 1.0768, the prospect of moving to the nearest target along the line of the price channel of 1.0600 opens up.

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.