Indicator analysis: Daily review of EUR/USD on April 26, 2023
April 26, 2023 9:23 am
Trend analysis (Fig. 1).
The market may move upward from the level of 1.0971 (closing of yesterday’s daily candle) with the target at the 1.0990 resistance level (bold white line). Upon reaching this level, a downward movement is possible with the target at 1.0930, the historical support level (blue dotted line). From this level, the price may move up.
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – down;
Fibonacci levels – down;
Volumes – down;
Candlestick analysis – down;
Trend analysis – up;
Bollinger bands – up;
Weekly chart – down.
General conclusion:
Today, the price may move upward from the level of 1.0971 (closing of yesterday’s daily candle) with the target at the 1.0990 resistance level (bold white line). Upon reaching this level, a downward movement is possible with the target at 1.0930, the historical support level (blue dotted line). From this level, the price may move up.
Alternatively, the price may move upward from the level of 1.0971 (closing of yesterday’s daily candle) with the target at the 1.0990 resistance level (bold white line). Upon reaching this level, a downward movement is possible with the target at 1.0911, the 76.4% pullback level (red dotted line). Upon reaching this level, the price may move upward with the target at 1.0994, the 14.6% pullback level (yellow dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1).
The market may move upward from the level of 1.0971 (closing of yesterday’s daily candle) with the target at the 1.0990 resistance level (bold white line). Upon reaching this level, a downward movement is possible with the target at 1.0930, the historical support level (blue dotted line). From this level, the price may move up.
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move upward from the level of 1.0971 (closing of yesterday’s daily candle) with the target at the 1.0990 resistance level (bold white line). Upon reaching this level, a downward movement is possible with the target at 1.0930, the historical support level (blue dotted line). From this level, the price may move up.
Alternatively, the price may move upward from the level of 1.0971 (closing of yesterday’s daily candle) with the target at the 1.0990 resistance level (bold white line). Upon reaching this level, a downward movement is possible with the target at 1.0911, the 76.4% pullback level (red dotted line). Upon reaching this level, the price may move upward with the target at 1.0994, the 14.6% pullback level (yellow dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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