empty
 
 
30.04.2021 10:24 AM
Indicator analysis. Daily review for the EUR/USD pair on April 30, 2021

Trend analysis (Fig. 1).

On Friday, the market from the level of 1.2120 (closing of yesterday's daily candlestick) will move downward and try to reach the support line - 1.2102 (blue bold line). After testing this line, it is likely to continue moving upward with the target of 1.2149 - the upper fractal (red dotted line). And upon reaching this level, the upward movement may continue with the target of 1.2166 - the target level of 161.8% (blue dashed line).

This image is no longer relevant

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 1.2120 (closing of yesterday's daily candlestick) will move downward and try to reach the support line - 1.2102 (blue bold line). After testing this line, it is likely to continue moving upward with the target of 1.2149 - the upper fractal (red dotted line). And upon reaching this level, the upward movement may continue with the target of 1.2166 - the target level of 161.8% (blue dashed line).

Unlikely scenario: the price from the level of 1.2120 (closing of yesterday's daily candlestick), will move down and try to reach the support line - 1.2102 (blue bold line). After testing this line, the downward movement may continue with the target of 1.2080 - the 14.6% retracement level (red dotted line). In case of testing this level, it is possible that it will continue moving upwards with the target of 1.2149 - the upper fractal (red dotted line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
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 $8000 more!
    In March we raffle $8000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 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