Technical Analysis of EUR/USD for April 28, 2023
April 28, 2023 7:23 amVideo
Latest News
- Analysis of GBP/USD on April 26th. The pound trades on Friday without changes April 26, 2024
- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- EUR/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: trading plan for the US session on April 26th (analysis of morning deals). The pound attempted, but it didn’t go April 26, 2024
- EUR/USD: trading plan for the US session on April 26th (analysis of morning deals). The euro continues to rise April 26, 2024
- Trading Signals for GOLD (XAU/USD) for April 26-29, 2024: buy above $2,324 and sell below $2,352 (21 SMA – 6/8 Murray) April 26, 2024
- Technical Analysis – AUDUSD set to complete best week of the year April 26, 2024
- Will Apple finally drop its AI hint? – Stock Markets April 26, 2024
- Bitcoin slips as markets pare back Fed rate cuts – Crypto News April 26, 2024
- EUR/USD. April 26th. Bulls continue to advance after the GDP report April 26, 2024
- Can Chinese PMIs solidify the economy’s recovery prospects? – Preview April 26, 2024
- Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- XM’s Lombok Collaboration: Brightening Futures April 26, 2024
- Week Ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- Market Comment – Yen keeps sinking after Bank of Japan decision April 26, 2024
- Fed faces dilemma amid sticky inflation and slowing economy – Preview April 26, 2024
- USD/JPY: trading tips for beginners for European session on April 26 April 26, 2024
- GBP/USD: trading tips for beginners for European session on April 26 April 26, 2024
- EUR/USD: trading tips for beginners for European session on April 26 April 26, 2024
Technical Market Outlook:
The EUR/USD pair has made a new, marginal swing high at the level of 1.1096 and then reversed to test the bounced from the trend line support on the H4 time frame chart located around the level of 1.1010. The key short-term technical resistance is seen at the level of 1.1076. The key short-term technical support is seen at the level of 1.0910 and any breakout below this level would be a bearish pressure indication. The momentum is slightly negative on the H4 time frame chart, so the market is not ready yet to continue the up trend towards the 1.1280, which is 61% Fibonacci retracement level of the whole, big wave down that started in January 2021. Please notice, that the short-term up trend is still intact and the key level for bulls is seen at 1.0910.
Weekly Pivot Points:
WR3 – 1.10312
WR2 – 1.10077
WR1 – 1.09962
Weekly Pivot – 1.09842
WS1 – 1.09727
WS2 – 1.09607
WS3 – 1.09372
Trading Outlook:
Since the beginning of October 2022 the EUR/USD is in the corrective cycle to the upside, but the main, long-term trend remains bearish. This corrective cycle might had been terminated at the level of 1.2080 which is 61% Fibonacci retracement level. The EUR had made a new multi-decade low at the level of 0.9538, so as long as the USD is being bought all across the board, the down trend will continue towards the new lows.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: