You are here: Home > articles > Commodities > Forex > Technical analysis of EUR/USD and GBP/USD on April 25
Technical analysis of EUR/USD and GBP/USD on April 25
April 25, 2023 10:22 amVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 17-19, 2024: sell below $2,400 (21 SMA – double top) April 17, 2024
- Technical Analysis – GBPCAD hits a wall but bulls not ready to give up April 17, 2024
- Trading Signals for Ethereum (ETH/USD) for April 17-19, 2024: sell below $3,125 (21 SMA – 2/8 Murray) April 17, 2024
- Analysis for the EUR/USD pair on April 17th. Jerome Powell didn’t help the dollar much April 17, 2024
- Analysis for GBP/USD pair on April 17th. British inflation overtakes American inflation April 17, 2024
- USD/JPY: Simple Trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- EUR/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURUSD takes a breather after sharp tumble April 17, 2024
- Market continues to price in a plethora of rate cuts for 2024 – Special Report April 17, 2024
- EUR/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURGBP maintains bearish bias amid pennant formation April 17, 2024
- EUR/USD. April 17th. Jerome Powell supports the dollar April 17, 2024
- GBP/USD. April 17th. Inflation in Britain is falling, but not as much as the market wants April 17, 2024
- Tesla Q1 Earnings: Poor deliveries point to disappointing results – Stock Markets April 17, 2024
- Video market update for April 17, 2024 April 17, 2024
- Forex forecast 04/17/2024: EUR/USD, GBP/USD, Gold, Bitcoin and Ethereum from Sebastian Seliga April 17, 2024
- Technical Analysis – Gold struggles to jump above 2,400 April 17, 2024
- GBP/USD: trading tips for beginners for European session on April 17 April 17, 2024
EUR/USD
Larger timeframes
Despite consolidation and uncertainty, the bulls have become active again with the opening of a new trading week and are pushing the price up. If the high of the current correction at 1.1076 is updated and the price firmly settles above it, this will open the way to the monthly resistance at 1.1221. If the bullish activity is lost, EUR/USD will return to the support of the daily short-term trend, located today at 1.0993, and to the daily consolidation zone. Further, the instrument will carry on with its decline and the bearish interest will be directed to the monthly medium-term trend at 1.0901.
H4 – H1
Having bounced off the support zone of key levels on smaller timeframes yesterday, the bulls began the rise and recovery of positions. As a result, the current bullish targets are spotted at 1.1076 – 1.1105 – 1.1160 (resistances of the classical Pivot levels). The key supports of the smaller timeframes today embrace a rather wide zone, providing opportunities for the development of a correction within the range of 1.1021 (central Pivot level of the day) to 1.0981 (weekly long-term trend). The loss of key levels can change the current balance of trading interests again. The more realistic scenario is strengthening bearish sentiment.
***
GBP/USD
Larger timeframes
Yesterday, the bulls managed to close the day above the resistance of the daily short-term trend (1.2449). Today, they are once again testing the resistance of the first target of the daily goal for the breakout of the Ichimoku cloud (1.2502). The next important stage for a further rise is the full execution of the goal for the cloud breakout (1.2580). If the bulls lose the support of the short-term trend (1.2449) again, the bears will seek to liquidate the daily golden cross (1.2400 – 1.2361 – 1.2311) and return to the support of the monthly medium-term trend (1.2302).
H4 – H1
At the moment, the main advantage on the smaller timeframes belongs to the bulls, but GBP/USD is in the correction zone and has begun testing the support of the central Pivot level of the day (1.2458). The next downward target is the key level: the weekly long-term trend (1.2438). Losing key supports will change the current balance of trading interest in favor of strengthening the bearish sentiment. In this case, the intraday supports of the classical Pivot levels (1.2432 – 1.2382 – 1.2356) will serve as the next targets for the decline. If, however, the bulls manage to complete the correction and continue the rise, bouncing off the key supports, their attention and interest today within the day will be directed to 1.2508 – 1.2534 – 1.2584 (resistances of the classical Pivot levels).
***
This technical analysis is based on the following ideas:
Larger timeframes – Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels
H1 – classic pivot points + 120-period Moving Average (weekly long-term trendline)
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: