The Analytical Overview Of The Main Currency Pairs - Tuesday, Apr. 27

The EUR/USD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.2091
  • Prev Close: 1.2085
  • % chg. over the last day: -0.04%

On Monday, the EUR/USD price reached a resistance level of 1.2109 but did not break out it at the first try. The price bounced down and also broke the local uptrend line. All these factors indicate a corrective movement to the nearest support level.

10 and one 10 us dollar bill

Image Source: Unsplash

Trading recommendations

  • Support levels: 1.2075, 1.2049, 1.1994, 1.1957
  • Resistance levels: 1.2109, 1.2176, 1.2212, 1.2243

The uptrend remains bullish, but the entry point for long positions is not optimal now. The best option would be to wait for the price to reach the nearest support level or look for selling positions on intraday timeframes. Buyers need to hold the 1.2049 level to keep the upward trend.

Alternative scenario: if the price breaks down through the 1.2049 level and holds below, with a high probability, the price can go down to 1.1994, thereby forming a flat with the range of 1.1994-1.2075.

(Click on image to enlarge)


News feed for 2021.04.27:

  • – CB Consumer Confidence at 17:00 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.3869
  • Prev Close: 1.3900
  • % chg. over the last day: +0.02%

GBP/USD price is still trading above the moving average and despite the inactive MACD, the priority remains bullish. On Monday, the price broke the resistance level of 1.3894 and the local downtrend line, which indicated the buyers’ pressure. At the same time, a new support level at 1.3864 was formed.

Trading recommendations

  • Support levels: 1.3864, 1.3835, 1.3794, 1.3756, 1.3690
  • Resistance levels: 1.3944, 1.3996, 1.4149

The best strategy for the GBP/USD pair is to look for opening buy positions from support levels. It is important for buyers to keep the price above 1.3864. With a high probability, the price will go to the 1.3944 resistance level in the coming days.

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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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