Sign up at HYCM today and start trading from as little as $100
Join an FCA regulated broker and trade over 100 CFDs

Forex Technical Outlook EURUSD 21.04.2017

Fri, Apr 21 2017, 08:11 GMT

by

EURUSD

The Euro holds in extended consolidation above 1.0700 support (broken Fibo 38.2% of 1.0905/1.0568 downleg) reinforced by 5/30 SMA’s bull-cross) in early Friday’s trading.
The pair spiked to 1.0776 on Thursday and hit target at 1.0776 (Fibo 61.8%), but probe above 1.0738 pivot (sideways-moving daily Kijun-sen line which capped Tue/Wed upside attempts), proved to be short-lived.
Strong upside rejection that left daily candle with long upper shadow on Thursday weighs, however, immediate downside risk will be sidelined while the price is holding above supports at 1.0700 and 1.0680 (rising daily Tenkan-sen / 20SMA).
Release of EU PMI data is in focus today.

Res: 1.0738; 1.0776; 1.0800; 1.0837
Sup: 1.0700; 1.0680; 1.0661; 1.0627

Published on Fri, Apr 21 2017, 08:11 GMT

More entries by

More entries by This Author

Featured Forex Brokers