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14.04.202112:22 Forex Analysis & Reviews: Technical analysis of EUR/USD and GBP/USD for April 14, 2021

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EUR/USD

Yesterday, bulls pushed off from the support levels and got rid of gravity near 1.1886 (the daily and weekly Kijun-sens). The upward trend extended. At the moment, the price is testing the support zone of 1.1972-76 (the weekly cross and the monthly short-term trend). A further price movement will be determined depending on whether the price tests the resistance level or not.

The weekly long-term trend remained bullish yesterday. As a result, the price reached a new high. Currently, the pair tests the first resistance level that is the Pivot point of 1.1977. The Pivot points of 1.2005 and 1.2055 are seen as the second and the third resistance levels. In the lower time frames, today's support levels are at 1.1927 (the Pivot point) and 1.1904 (the weekly long-term trend).

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GBP/USD

Using the support level of 1.3710 (the weekly Kijun), bulls are now trying to test the lower border of a wider support zone that consists of the resistance levels of the daily cross and the Ichimoku cloud (1.3794 - 1.3837 - 1.3876). The level of 1.3710 and the extreme low of the current trend (1.3669) provide support to the pair.

According to the H1 chart, the market is now bullish. Bulls have tested the second support level of 1.3811 (the classic Pivot point). If the trend extends, the price may test the third resistance level of 1.3855. The key levels of the lower time frames are concentrated in the 1.3736-39 range (the Pivot point and the weekly long-term trend). If the price breaks through these support levels and consolidates below them, the trend will unlikely change in the lower time frames. The intraday reference points are the support levels located at 1.3705 – 1.3661 – 1.3630 (the classic Pivot Points).

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Tools used in technical analysis:

higher time frames - Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels

H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)

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