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10.04.2020 11:24 AM
Technical analysis recommendations for EUR/USD and GBP/USD on April 10

Economic calendar (Universal time)

The data on the US consumer price index (12:30) can be noted among the most important events of today's economic calendar.

EUR / USD

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Players on the rise managed to hold the situation and continued to rise yesterday. Today, the nearest resistances in the area of 1.0965 are divided, thus making the possibility of a breakdown level. Today. further upward directions remain the same 1.0965 (weekly Fibo Kijun) - 1.1012 (daily cloud) - 1.1067-1.1100 (accumulation of important levels of the monthly and weekly half). Friday is the closing of the week, so today can bring surprises.The attraction and nearest support in the current situation is provided by the zone of 1.0911-1.08879 (daily Tenkan + historical level), then the most significant support of this section 1.0778 is located.

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The key support for the lower halves (the central Pivot level and the weekly long-term trend) completed their mission yesterday. They retained the advantage of players to increase and helped to continue the rise. Today, the levels have diverged and are forming important support lines again in case of a downward correction - 1.0907 (central Pivot level) - 1.0858 (weekly long-term trend). Now, the upward reference points within the day are R1 (1.0973) - R2 (1.1018) - R3 (1.1084).

GBP / USD

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Yesterday, it was not possible to break through the significant resistance of the current section 1.2450 - 1.2540 (monthly Tenkan + weekly Kijun and Senkou Span A + final line of the daily cross + monthly Fibo Kijun), therefore, we are testing this zone again. Consolidation above opens the direction to 1.2670 - 1.2711 (weekly Senkou Span B + Fibo Kijun) and 1.2893 (monthly Kijun and daily cloud). The strength and significance of the support zone 1.2305 - 1.2214 (daily Kijun and Tenkan + weekly Tenkan and Fibo Kijun) remains relevant today.

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The advantages of the lower halves are now on the side of the players to increase, but the bulls are currently facing the resistance of the higher halves (1.2450 - 1.2540). That is what is holding back the development of the situation. The daily resistance R1 (1.2505) - R2 (1.2556) - R3 (1.2628) can be added to the upward reference points. Among the most significant support in the case of a downward correction, we can certainly distinguish the key levels at H1 - 1.2433 (central Pivot level) and 1.2340 (weekly long-term trend). Consolidation below will change the existing balance of forces and will be the beginning of a new rebound from the met resistance of the higher halves.

Ichimoku Kinko Hyo (9.26.52), Pivot Points (classic), Moving Average (120)

Evangelos Poulakis,
Analytical expert of InstaForex
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