Indicator analysis: Daily review of GBP/USD on April 4, 2023
April 4, 2023 9:23 am
Trend analysis (Fig. 1).
The pound-dollar pair may move downward from the level of 1.2413 (closing of yesterday’s daily candle) to test 1.2371, the 5-day EMA (thin red line). When testing this level, an upward movement is possible to 1.2446, the upper fractal (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – down;
Volumes – down;
Candlestick analysis – down;
Trend analysis – up;
Bollinger bands – up;
Weekly chart – down.
General conclusion:
Today, the price may move downward from the level of 1.2413 (closing of yesterday’s daily candle) to test 1.2371, the 5-day EMA (thin red line). When testing this level, an upward movement is possible to 1.2446, the upper fractal (blue dotted line).
Alternatively, the price may move downward from the level of 1.2413 (closing of yesterday’s daily candle) to test 1.2342, the 8-day EMA (thin blue line). When testing this level, the price may move upward with the target at 1.2422, the upper fractal (yellow dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1).
The pound-dollar pair may move downward from the level of 1.2413 (closing of yesterday’s daily candle) to test 1.2371, the 5-day EMA (thin red line). When testing this level, an upward movement is possible to 1.2446, the upper fractal (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 1.2413 (closing of yesterday’s daily candle) to test 1.2371, the 5-day EMA (thin red line). When testing this level, an upward movement is possible to 1.2446, the upper fractal (blue dotted line).
Alternatively, the price may move downward from the level of 1.2413 (closing of yesterday’s daily candle) to test 1.2342, the 8-day EMA (thin blue line). When testing this level, the price may move upward with the target at 1.2422, the upper fractal (yellow dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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