The Analytical Overview Of The Main Currency Pairs - Wednesday, Apr. 28

The EUR/USD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.2084
  • Prev Close: 1.2091
  • % chg. over the last day: +0.05%

On Tuesday, the EUR/USD currency pair was trading in a relatively narrow range. Sellers are actively defending the level of 1.2088, but taking into account the fact that the price broke through the local downtrend line by the impulse candles, there is little chance that this level will be held.

Trading recommendations

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

The uptrend remains bullish. The price is above the moving average and the MACD in the positive area. The best strategy for EUR/USD would be looking for buy positions from the nearest support levels. It is best to work on intraday timeframes because volatility is low before the news.

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 2021.04.28:

  • – ECB President Christine Lagarde Speaks at 17:00 (GMT+3);
  • – FOMC Rate Decision at 21:00 (GMT+3);
  • – FOMC Press Conference at 21:30 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.3889
  • Prev Close: 1.3907
  • % chg. over the last day: +0.01%

Buyers are actively defending the 1.3864 support level. This level coincides with the dynamic moving average, which adds more strength to it. The trend remains bullish without any signs of a reversal.

Trading recommendations

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

The strategy for the GBP/USD currency pair remains unchanged. Traders should look for long positions from the support levels. The nearest target, where the price is likely to go, is the 1.3944 resistance 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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