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FX.co ★ Indicator analysis. Daily review for the EUR/USD pair on April 15, 2021

Indicator analysis. Daily review for the EUR/USD pair on April 15, 2021

Trend analysis (Fig. 1).

On Thursday, the market may start moving down from the level of 1.1979 (closing of yesterday's daily candlestick) to the target at 1.1954 - the historical support level (blue dashed line). After testing this level, it is likely to continue working upwards to the target set at 1.1989 - the upper fractal (blue dashed line). And if this level is reached, it may rise to 1.2066 - the upper border of the Bollinger line indicator (black dashed line).

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Indicator analysis. Daily review for the EUR/USD pair on April 15, 2021

Figure 1 (Daily Chart).

Comprehensive analysis:

  • Indicator analysis - up;
  • Fibonacci levels - up;
  • Volumes - up;
  • Candlestick analysis - down;
  • Trend analysis - up;
  • Bollinger lines - up;
  • Weekly chart - up.

General conclusion:

Today, the market may start moving down from the level of 1.1979 (closing of yesterday's daily candlestick) to the target at 1.1954 - the historical support level (blue dashed line). After testing this level, it is likely to continue working upwards to the target set at 1.1989 - the upper fractal (blue dashed line). Reaching this level will enable it to continue rising.

Alternative scenario: from the level of 1.1979 (closing of yesterday's daily candlestick), the pair may start moving down to the target at 1.1954 - the historical support level (blue dashed line). After testing this level, the downward movement may continue to the target set at 1.1921, the 23.6% retracement level (red dashed line).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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