empty
 
 
27.04.2021 06:14 AM
Forecast for EUR/USD on April 27, 2021

EUR/USD

Yesterday, the euro marked a downward turn after a correctional growth of 61.8% of the movement from January 6 to March 31. The first sign of it was when the divergence formed on the four-hour chart. The reversal should take place in two stages: consolidating under the MACD indicator line at H4 and settling under the same indicator line on the daily (1.1980).

This image is no longer relevant

The growth will likely recover after the price goes over yesterday's high at 1.2117. In this case, the target will be the 76.4% correction level at the price of 1.2200. We choose a price reversal and a further medium-term decline as the main scenario, since the price still develops in the global descending channel, which originates from July 2008.

This image is no longer relevant

So, we are waiting for the price to settle below 1.2060 and fall to 1.1980.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Yuriy Zaycev
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback