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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).

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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.

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

Ringkasan
Segera
Analitic
Yuriy Zaycev
Mulakan perdagangan
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