empty
 
 
pt
Suporte
Abertura instanânea da conta
Plataforma de negociação
Depósito/Retirada

26.04.202308:25 Forex Analysis & Reviews: Technical Analysis of EUR/USD for April 26, 2023

Technical Market Outlook:

The EUR/USD pair has bounced from the trend line support on the H4 time frame chart after a failed attempt to break out above the last swing high located at the level of 1.1076. The key short-term technical resistance is seen at the level of 1.1000 was violated and will now act as the technical support. The key short-term technical support is seen at the level of 1.0910 and any breakout below this level would be a bearish pressure indication. The momentum is slightly negative on the H4 time frame chart, so the market is not ready yet to continue the up trend towards the 1.1280, which is 61% Fibonacci retracement level of the whole, big wave down that started in January 2021. Please notice, that the short-term up trend is still intact and the key level for bulls is seen at 1.0910.

Exchange Rates 26.04.2023 analysis

Weekly Pivot Points:

WR3 - 1.10312

WR2 - 1.10077

WR1 - 1.09962

Weekly Pivot - 1.09842

WS1 - 1.09727

WS2 - 1.09607

WS3 - 1.09372

Trading Outlook:

Since the beginning of October 2022 the EUR/USD is in the corrective cycle to the upside, but the main, long-term trend remains bearish. This corrective cycle might had been terminated at the level of 1.2080 which is 61% Fibonacci retracement level. The EUR had made a new multi-decade low at the level of 0.9538, so as long as the USD is being bought all across the board, the down trend will continue towards the new lows.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Sebastian Seliga,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Não pode falar agora?
Faça sua pergunta no chat.