FX.co ★ EUR/USD analysis for April 22 2021 - Completion of the downsdie correction and potential for test of 1.2100

UK April CBI trends total orders -8 vs 2 expected

Prior -5Trends selling prices 27Prior 20Of note, the quarterly optimism index jumps to 38 from -22 in March as UK manufacturers' expectations of a rebound rose to the highest in almost 50 years. The monthly reading for factory orders were less upbeat though as seen with the headline.Further Development

Analyzing the current trading chart of EUR, I found that EUR reached our first upside target at 1.2025 and that is heading to test second target at 1.2080.

There is completion of the ABC downside correction and potential for the upside continuation.

Watch for buying opportunities on the pullbacks with the target at 1.2100.