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Hot forecasts and trading signals for the EUR/USD, GBP/USD and USD/JPY pairs for April 14

EUR/USD 1H

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The euro/dollar pair fell to the critical Kijun-sen line on the hourly chart, as well as to the lower line of the ascending channel. Unable to overcome these two supports, the pair turned up and indicated a desire to resume moving up inside the channel. Thus, the channel received a third point of formation and continues to be relevant. Based on the current technical picture of intradays, we can draw the following conclusions.

1) The rebound from the lower line of the channel allows you to trade for an increase to the Senkou Span B line (4-hour chart) 1.0974. Thus, at this time, we recommend buying the euro currency.

2) Consolidating quotes under the ascending channel and the Kijun-sen line will change the current short-term trend to a downward one. In this case, we recommend selling the euro currency with the target volatility level (for the 4-hour chart on April 14) – 1.0836.

GBP/USD 1H

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The GBP/USD 13 currency pair resumed the upward movement, overcame the resistance area of 1.2471 - 1.2485, and then corrected in it, rebounded from it, which became the 6th rebound from this area and resumed its upward movement. Thus, the current intraday picture suggests the following conclusions:

1) Since yesterday we advised you to trade for an increase, if the area of 1.2471 - 1.2485 is overcome, today we recommend to continue staying in longs with the goal of the first resistance level for the 4H timeframe - 1.2567.

USD/JPY 1H

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For the dollar/yen currency pair, the technical picture is as follows. After overcoming the strong support area of 108.22 – 108.31 and the trend line, the pair can easily move towards the next support area of 107.03-107.12. Thus, the conclusion is simple and obvious:

1) We recommend staying in sales of the USD/JPY pair with the aim of supporting the area of 107.03 – 107.12.

No important macroeconomic events are planned for today.

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