Trading recommendations for starters of EUR/USD and GBP/USD on April 23, 2021
Trading recommendations for starters of EUR/USD and GBP/USD on April 23, 2021
Let's consider the opportunities and prospects in the currency market and open trade deals.
Forex Analysis & Reviews
Indicator analysis. Daily review for the GBP/USD pair on April 23, 2021
The GBP/USD pair continued its downward movement yesterday, almost testing the 14.6% retracement level, 1.3816 (red dotted line). The price closed the daily candlestick at 1.3835. As per the economic calendar, news is expected at 08.30 UTC (pound) and 14.00 UTC (dollar).
Technical Analysis of EUR/USD for April 23, 2021
The AUD/USD pair has broken resistance at the level of 0.7702, which acts as support now. So, the pair has already formed minor support at 0.7702.
Positive US economic data may put pressure on the US dollar
Apparently, the markets are no longer focusing on the dynamics of US government bonds, shifting all their attention again to the situation around the COVID-19 pandemic, as well as to the plans of US President J. Biden.
Indicator analysis. Daily review for the EUR/USD pair on April 23, 2021
The EUR/USD pair tested the upper fractal 1.2079 (red dotted line) yesterday. The price went down, and the market tested the 1.1993 support line (blue bold line). As per the economic calendar, news is expected at 14.30 UTC (euro) and 14.00 UTC (dollar).
Daily Video Analysis: AUDUSD shows potential for bullish bounce!
Today we take a look at AUDUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is reacting below descending trendline resistance, where we could.
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AUDUSD reacting above key support! Bounce incoming!
AUDUSD reacting above key graphical swing low support. A short term bounce above our 1st support at 0.76997 towards descending trendline resistance and our 1st resistance at 0.77369 could be possible. RSI is testing support as well where price bounced in the past.
Trading Recommendation
Entry:.
EURCHF facing bullish pressure, potential for further upside!
Prices are facing bullish pressure from 1st support which is in line with horizontal swing low support, 100% Fibonacci extension and 78.6% Fibonacci retracement. If prices push up further, prices might face resistance from 1st resistance which is horizontal swing high resistance in line with 78.6%.
EURUSD reacting above 1st support, potential for further upside!
Price is reacting above 1st support, which is in line with 61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal pullback support. We could potentially see further upside above 1st support towards 1st resistance, which is in line with our 100% Fibonacci extension and horizontal swing.
S&P 500 index slips on news again
S&P 500 slipped after Bloomberg News reported on Joe Biden's plan to raise taxes on investing profits
Morning review of EUR/USD: Euro hit 1.2080
Euro hit critical resistance.
Hot forecast for GBP/USD on April 23, 2021
Once again, the British macroeconomic statistics are more likely to cause a feeling of bewilderment, since such figures are extremely difficult to believe. So, the market decided to rather ignore them, but the American statistics ...
Forecast for EUR/USD: Dollar demand soared due to Biden's new tax proposal. Euro now has a low chance of returning to a bull market.
Rumors have surfaced that US President Joe Biden plans to double the taxes of wealthy Americans.
Bitcoin breaks below cloud support for the first time since it traded back at $10,500.
As we explained in our last Bitcoin analysis, Bitcoin is trading above the Ichimoku cloud since it was trading around $11,000. The last time that price broke down below the cloud support was when it was trading around $10,500. Since then price has made an impressive rally to $65,000 and as we.
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We present to you the daily updated section of market analysis prepared by professional analysts of InstaForex Company. Each of the specialists represented in this section, carries out analytical reviews in accordance with his/her vision of the current situation on foreign exchange and other markets. However, the outlooks below are only recommendations and not instructions to any actions; they contain analysis of the current situation on the currency market. In some cases the analysts' opinions to changes in the current market situation can differ, in this way, we recommend you to follow the publications of only one analyst, who in your view most clearly and correctly evaluates the situation on the international Forex market.
