FX.co ★ EUR/USD analysis for April 28 2021 - Potential for the downside breakout and test of 1.1955

Further Development

Analyzing the current trading chart of EUR/USD, I found that there is the early signal for the downside movement casue of the breakout of the upside channel.

The confirmation for the downside movement will be if the price breaks the level of 1.2055.In that case, watch for selling opportunities on the rallies with the downside target at 1.2000 and 1.1955.

Additionally, the Stochastic oscillator is in the bearish mode and it is not in the oversold zone, which is good sing for downside continuation...