FX.co ★ EUR/USD analysis for April 09 2021 - Sellers in control, potential for the the drop towards 1.1825

ECB's de Guindos: Downside risks have materialised, Q1 was worse than initially expectedRemarks by ECB vice president, Luis de GuindosWell, given the virus situation, further downside risks are likely to spill over into Q2 unless the vaccine rollout starts to gather pace significantly in the weeks ahead.

Further Development

Analyzing the current trading chart of EUR/USD, I found that sellers are in control today and that selling opportunities are preferable.

Watch for selling opportunities on the rallies with the downside targets at 1.1865 and 1.1823.

Additionally, there is the bearish divergence on the Stochastic oscillator, which is another sign for further downside movement.

Key Levels:

Resistance: 1.1930Support levels: 1.1865 and 1.1823