Currency pair Euro/Dollar EUR/USD continues to move in the framework of the correction and formation of a large reversal model “Head and Shoulders” on the daily chart of the pair. Perhaps lateral movement is saved until the Fed solution at the rate. The moving averages indicate the presence of a short bullish trend in a pair. Prices struck the area between the signal lines upwards, which indicates pressure from the buyers of the European currency and the potential continuation of the growth of quotations is already with current levels. At the time of publication of the forecast, the euro for the US Dollar is 1.2078. As part of the forex forecast on April 28, 2021, it is worth expecting an attempt to develop bovine correction and the resistance level test, which is located on a pair near the region of 1.2120. Next, rebound down and the continuation of the fall of the euro dollar currency pair. The potential goal of such a movement on Forex is the area below level 1.1785.
EUR/USD Forecast Euro Dollar April 28, 2021
An additional signal in favor of falling quotes EUR/USD will be a downward trend test. The second signal will be a rebound from the resistance line on the indicator RSI. The abolition of the fall quotes of the euro dollar currency pair will become strong growth and breakdown of level 1.2185. This will indicate on the test of the upper model and the continuation of the lift to the area at 1.2305. Expect to confirm the fall on the EUR/USD currency pair stands with the breakdown of the support level and the price closure below level 1.1965, which will indicate the release of quotes beyond the bullish channel channel.
Among the important news from Europe and the United States, which can have an impact on the EUR/USD pair, it is worth highlighting: European Central Bank (ECB) of President Lagarde Speech, Federal Reserve System (FED) Interest Rate Decision, FOMC Federal Open Market Press Conference.
EUR/USD Forecast Euro Dollar April 28, 2021 involves the development of the correction and test of the resistance area near the level of 1.2120. Where to expect a rebound and an attempt to continue falling a pair to the area below level 1.1785. In favor of the fall of the currency pair, the trend lines will be performed on the relative force indicator. The abolition of the EUR/USD pair decrease will be a strong increase in quotations and a level of 1.2185. This will indicate the resistance area test and continue the lifting a currency pair on Forex to the region above level 1.2305.
