For Traders

Analytical Reviews

Technical analysis

28.04.202110:48 Forex Analysis & Reviews: Indicator analysis. Daily review for the EUR/USD pair on April 28, 2021

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.

Trend analysis (Fig. 1).

On Wednesday, the market from the level of 1.2090 (closing of yesterday's daily candlestick) will try to start moving down with the target of 1.2070 - the support line (blue bold line). In case of testing this line, it is possible to continue working upward with the target of 1.2116 - the upper fractal (red dotted line). Upon reaching this level, it is possible to continue to work upward with the target of 1.2166 - the target level of 161.8% (blue dashed line). Much will depend on the news that comes out at 18.00 and 18.30 UTC.

Figure 1 (Daily Chart).

Comprehensive analysis:

Indicator analysis - down;
Fibonacci levels - down;
Volumes - down;
Candlestick analysis - down;
Trend analysis - up;
Bollinger lines - up;
Weekly chart - up.

General conclusion:

Today, the price from the level of 1.2090 (closing of yesterday's daily candlestick), will try to start moving down with the target of 1.2070 - the support line (blue bold line). In case of testing this line, it is possible to continue the working upward with the target of 1.2116 - the upper fractal (red dotted line).

Unlikely scenario: from the level of 1.2090 (closing of yesterday's daily candlestick), the price will try to continue moving downward with the target of 1.2070 - the support line (blue bold line). Once this line is tested, it may continue to decline with the target of 1.2019, the 23.6% retracement level (red dashed line). After testing this level, it is possible to work 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.