Forex analysis review

Forex analysis review

April 4, 2021 : EUR/USD Intraday technical analysis and trade recommendations.

Posted: 04 Apr 2021 11:50 AM PDT

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In late February, a recent bullish spike has pursued towards 1.2150 - 1.2175 (backside of the broken channel limit) where bearish rejection was previously anticipated.

Further bearish decline was expected to pursue towards 1.1960 and 1.1850. Both levels got broken to the downside, soon enough to enable further bearish decline afterwards.

However, a Short-term sideway movement was initially demonstrated above 1.1850 enabling a bullish movement to take place towards 1.1970-1.2000 which constituted a prominent Supply Zone.

Shortly after, the EURUSD pair has launched the current bearish decline below 1.1820. Further bearish continuation is expected to pursue at least towards 1.1690 or at least few pips above.

Around 1.1690, a high probability bullish trade could be taken around it, a bullish pullback should be expected towards 1.1850.

Any bullish pullback towards the price zone of 1.1850-1.1880 should also be considered for SELLING the Pair.

The material has been provided by InstaForex Company - www.instaforex.com

April 4, 2021 : EUR/USD daily technical review and trade recommendations.

Posted: 04 Apr 2021 11:49 AM PDT

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The previous episode of upside movement was expressed above the depicted uptrend line (in blue) towards 1.2250 then 1.2350 before it was broken to the downside.

By the end of February, Near the price level of 1.2250, Significant SELLING Pressure was found, leading to the current downside movement.

The price zone around (1.1990) corresponds provided some temporary buying pressure.

However, this recent short-term upside movement was terminated due to lack of sufficient buying momentum.

Another downside movement was expressed towards 1.1840. Breakdown below it triggered another downside movement towards 1.1780-1.1750 which is failing to hold so far.

Further bearish decline extended towards 1.1710 which provided BUYING Pressure while being tested.

Recently, as the price zone of 1.1700-1.1720 was being challenged, an upside pullback is expected to pursue towards 1.1840.

Trade Recommendations:

Intraday traders should be waiting for the current upside movement to pursue towards 1.1850 for a valid SELL Entry.

The material has been provided by InstaForex Company - www.instaforex.com

April 4, 2021 : GBP/USD Intraday technical analysis and trade recommendations.

Posted: 04 Apr 2021 11:48 AM PDT

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In February, the GBPUSD pair looked overbought while consolidating sideways around the price-levels of 1.3700.

Sideway movement with slight bullish tendency was demonstrated while approaching these price levels around 1.3700-1.3750.

Thats's why, Bearish pullback was expressed. However, the GBP/USD pair has failed to maintain sufficient bearish momentum.

Strong bullish movement was expressed, Hence, upside movement was expected towards the new limit of the current movement channel around 1.4100-1.4150.

Obvious Bearish rejection and a SELL Entry was suggested around this price zone. Since then, the GBPUSD pair has been moving sideways with bearish tendency.

Short-term outlook has turned into bearish after the GBP/USD pair could maintain movement below 1.3820 which corresponds to 61.8% Fibonacci level. Any bullish trials for retesting should give a valid SELL Entry.

Note that Bearish Persistence below 1.3820 will enhance bearish decline at least towards 1.3500. Otherwise, another breakout above 1.3900 will probably liberate another bullish movement towards 1.4200.

The material has been provided by InstaForex Company - www.instaforex.com

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