Technical Analysis on EUR/USD 16h of April


Today's technical analysis on April 16, the EUR / USD pair is dominated by bullish sentiments to complete consolidation in the Asian session, at strong support levels of 1.23310 - 1.23000 therefore it is desirable to wait for a breakdown of a strong resistance level that can open the way to levels 1.23875 - 1.24650 within the London and New York sessions.

Thus, the best opportunities for placing deals can be initiated before or during the London session with 1.23655 where the Fibonacci levels indicate. The MACD histogram is located in the positive area and slightly below its signal line, it starts to decrease very smoothly, gives a signal for sale. Stochastic Oscillator is in is in the neutral zone and forms the opposite signal. In the alternative scenario, you should wait for the breakdown of the strong support level 1.23310, then the investors' target will be the levels of 1.22905 - 1.21460.

In essence, today's expected important economic news in particular can lead to significant volatility of key pairs, this can stimulate significant movement to fluctuations during the London and New York sessions. This enables investors to take advantage of the Buy / Sell transactions from the minimum / maximum levels throughout the day.

Analysis of EUR / USD

Current price: 1.23370

Resistance level 1: 1.23450
Resistance Level 2: 1.23655
Resistance level 3: 1.23770
Resistance level 4: 1.24000

Support level 1: 1.23310
Support Level 2: 1.23255
Support Level 3: 1.23152
Support Level 4: 1.23000