FX.co - EUR/USD analysis for April 20 2021 - Bullish flag pattern in the play and potetnial for test of 1..2078

2021-04-20T11:14:58

Relevance until2021-04-22

Japan February tertiary industry index +0.3% vs +0.5% m/m expected

Further Development

EUR/USD analysis for April 20 2021 - Bullish flag pattern in the play and potetnial for test of 1..2078

Analyzing the current trading chart of EUR, I found that there is the potential for the upside continuation and test of 1.2048 and 1.2100.

My advice is to watch for buying opportunities on the dips with the upside targets set at 1.2048 and 1.2100.

Additionally, there is the test of the middle BOllinger band, which is another sign for potential buying.

Key support level is set at 1.2040

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ EUR/USD analysis for April 20 2021 - Bullish flag pattern in the play and potetnial for test of 1..2078