Trend analysis:
EUR/USD may continue to move upward in April, rising from the level of 1.0793 (closing of the March monthly candle) to the 61.8% retracement level of 1.0959 (red dashed line). Following this will be a further increase toward the 76.4% retracement level of 1.1080 (red dashed line).
Fig. 1 (monthly chart)
Comprehensive analysis:
Indicator analysis – uptrend
Fibonacci levels – uptrend
Volumes – uptrend
Candlestick analysis – uptrend
Trend analysis – uptrend
Bollinger bands – uptrend
Conclusion: All signals point to an upward movement in EUR/USD.
Overall conclusion: The pair will have a bullish trend, with no first lower shadow on the monthly white candle (first week of the month – white) and a second upper shadow (last week of the month – black).
Therefore, this month, euro will climb from 1.0793 (closing of the March monthly candle) to the 61.8% retracement level of 1.0959 (red dashed line), followed by a further rise toward the 76.4% retracement level of 1.1080 (red dashed line).
Alternatively, it could increase from 1.0793 (closing of the February monthly candle) to the 14.6% retracement level of 1.1021 (yellow dashed line), and then drop to the 61.8% retracement level of 1.0959 (red dashed line).
The material has been provided by InstaForex Company – www.instaforex.comTrend analysis:EUR/USD may continue to move upward in April, rising from the level of 1.0793 (closing of the March monthly candle) to the 61.8% retracement level of 1.0959 (red dashed line). Following this will be a further increase toward the 76.4% retracement level of 1.1080 (red dashed line). Fig. 1 (monthly chart)Comprehensive analysis:Indicator analysis – uptrendFibonacci levels – uptrendVolumes – uptrendCandlestick analysis – uptrendTrend analysis – uptrendBollinger bands – uptrendConclusion: All signals point to an upward movement in EUR/USD.Overall conclusion: The pair will have a bullish trend, with no first lower shadow on the monthly white candle (first week of the month – white) and a second upper shadow (last week of the month – black).Therefore, this month, euro will climb from 1.0793 (closing of the March monthly candle) to the 61.8% retracement level of 1.0959 (red dashed line), followed by a further rise toward the 76.4% retracement level of 1.1080 (red dashed line).Alternatively, it could increase from 1.0793 (closing of the February monthly candle) to the 14.6% retracement level of 1.1021 (yellow dashed line), and then drop to the 61.8% retracement level of 1.0959 (red dashed line).The material has been provided by InstaForex Company – www.instaforex.com Read More
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