Indicator analysis. Daily review for the EUR/USD pair on April 13, 2021

Trend analysis (Fig. 1).

On Tuesday, the market will attempt to start moving down from the level of 1.1909 (closing of yesterday's daily candlestick) to the target set at 1.1875 - the retracement level of 23.6% (red dotted line). When the price tests this level, it is likely to continue moving downward with a target of 1.1842 - the 38.2% retracement level (red dotted line). And upon reaching this level, it may further work upward with a target of 1.1908 - the resistance line (red bold line). Reaching this line will enable it to rise further.

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Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price will try to start moving down from the level of 1.1909 (closing of yesterday's daily candlestick) to the target set at 1.1875 - the retracement level of 23.6% (red dotted line). When the price tests this level, it is likely to continue moving downward with a target of 1.1842 - the 38.2% retracement level (red dotted line). And upon reaching this level, it may further work upward with a target of 1.1908 - the resistance line (red bold line). Reaching this line will enable it to rise further.

Alternative scenario: the price from the level of 1.1811 (closing of yesterday's daily candlestick) will try to move down to the target set at 1.1875 - the 23.6% retracement level (red dotted line). And then, after testing this level, it may start working upwards with a target of 1.1908 - the resistance line (red bold line).

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

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