The Analytical Overview Of The Main Currency Pairs - Thursday, April 15

The EUR/USD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.1948
  • Prev Close: 1.1979
  • % chg. over the last day: +0.26%

The euro continued to rise against the US dollar amid growing yields on German Bonds. In the absence of important macroeconomic news, this factor is now playing a major role.

Trading recommendations

  • Support levels: 1.1836, 1.1704
  • Resistance levels: 1.1990, 1.2113

The main scenario for EUR/USD is sideways trading. The fact that the price has reached the first resistance level without breaking it may be the reason for the growth to stop. A divergence formed on the MACD, and the ADX moved to a decline, indicating a decrease in bullish potential.

Alternative scenario: if the price gains a foothold above the level of 1.1990, the pair may continue to rise. A breakout of 1.1925 will indicate the beginning of a southern correction.


News feed for 2021.04.15:

  • – Philadelphia Fed Manufacturing Index (Apr) at 15:30 (GMT+3);
  • – US Retail Sales (m/m) (Mar) at 15:30 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.3747
  • Prev Close: 1.3775
  • % chg. over the last day: +0.20%

The sterling stopped growing on Wednesday, leaving a high shadow at the top. Despite positive industrial production data, the currency is showing weakness against the euro and the dollar. The profitability of the British Gilts compared to their American counterparts indicates a possible early resumption of the fall.

Trading recommendations

  • Support levels: 1.3705, 1.3680
  • Resistance levels: 1.3848, 1.3929

The main scenario for GBP/USD is sideways trading. The pair came close to the first support level and rebounded. But ADX is declining, and MACD is near zero. The price is slightly above the moving averages.

Alternative scenario: if the pair consolidates below 1.3735, the pound may move to decline to 1.3680. A break at 1.3808 may indicate renewed growth.

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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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