20.04.202110:11 Forex Analysis & Reviews: Indicator analysis. Daily review for the EUR/USD pair on April 20, 2021

Trend analysis (Fig. 1).

On Tuesday, the market from the level of 1.2037 (closing of yesterday's daily candlestick) will try to continue moving upward with the target of 1.2075 - the historical resistance level (blue dotted line). After testing this level, the price may continue to work upward, with the target of 1.2102 - the 76.4% retracement level (yellow dashed line). And upon reaching this level, it is likely to further rise to the target set at 1.2135 - the upper border of the Bollinger line indicator (black dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.2037 (closing of yesterday's daily candlestick) will try to continue its upward movement with the target of 1.2075 - the historical resistance level (blue dotted line). After testing this level, the price may continue to work upward, with the target of 1.2102 - the 76.4% retracement level (yellow dashed line). And upon reaching this level, it is likely to further rise to the target set at 1.2135 - the upper border of the Bollinger line indicator (black dashed line).

Alternative scenario: the price from the level of 1.2037 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.2075 - the historical resistance level (blue dashed line). Having tested this level, the price may start working downwards, with the target of 1.2018 - the 14.6% retracement level (red dashed line). And then, after testing this level, it may further work downward with the target of 1.1975 - the support line of the ascending channel (blue thick line). Testing this line will enable the price to start working upwards.