empty
 
 
01.04.2020 08:54 AM
Indicator analysis. Daily review of EUR/USD on April 1, 2020

The pair moved upward on Tuesday, but it did not manage to reach the pullback level of 61.8% - 1.1168 (red dashed line), and after an unsuccessful upward attempt, the price went down. Moving down, it was not able to overcome the lower pullback level of 38.2% - 1.0953 (blue dashed line). The bulls, on the other hand, managed to gain 106 points up. Today, the upward movement may continue. Strong calendar news for the euro is expected at 07:55 UTC, and for the dollar at 12:15, 14:00 and 14:30 UTC.

Trend analysis (Fig. 1).

Today, the pair will continue to move down, with the target of 1.0953, a pullback level of 38.2% (blue dotted line), but this will depend on the news. An upward movement is possible with the first target of 1.1067, a pullback level of 50.0% (red dashed line). If this level is reached, the continuation of the upward movement is with the target of 1.1168, a retracement level of 61.8% (red dashed line).

This image is no longer relevant

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, the price will try to continue to move up after a small pullback down (before the news).

An unlikely scenario: from a pullback level of 38.2% - 1.0953 (blue dashed line) work down, with a target of 1.0993, a pullback level of 50.0% (blue dashed line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback