Analytical Overview Of The Main Currency Pairs - Friday, April 30

The EUR/USD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.2123
  • Prev Close: 1.2119
  • % chg. over the last day: -0.03%

The EUR/USD currency pair traded quietly on Thursday. The trend remains bullish, but there is a divergence on the MACD indicator, which is the first sign of a corrective movement. It is important for buyers to hold the support level of 1.2088. With a high probability, the price will make one more upward wave, and then the pullback may begin. A lot of statistical data from Europe are expected today.

Trading recommendations

  • Support levels: 1.2088, 1.2049, 1.1994, 1.1957
  • Resistance levels: 1.2176, 1.2212, 1.2243

On EUR/USD, it is best to look for purchases from the nearest support levels. The price may test the broken level of 1.2088, which acts as a support.

Alternative scenario: if the price breaks down through the 1.2088 level and holds below, with a high probability, the price can go down to 1.2049, with a potential to start a local downtrend correction.

EUR/USD

News feed for 2021.04.30:

  • – Germany’s Gross Domestic Product at 11:00 (GMT+3);
  • – EU Consumer Price Index at 12:00 (GMT+3);
  • – EU Gross Domestic Product at 12:00 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.3928
  • Prev Close: 1.3939
  • % chg. over the last day: +0.07%

On Thursday, the British currency traded in a narrow price range, near the 1.3944 level, which is no longer significant. The trend remains bullish, and the price is still trading above the moving average.

Trading recommendations

  • Support levels: 1.3913, 1.3864, 1.3835, 1.3794, 1.3756, 1.3690
  • Resistance levels: 1.3996, 1.4149

The strategy for the GBP/USD currency pair remains unchanged – to buy from the support levels. Now the price is moving to the 1.3913 support level, and if there are no impulse sales there, it is a good point to open long positions with the 1.3996 target level.

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Disclosure: This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, ...

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