FX.co - EUR/USD analysis for April 28, 2022 - Downside objective reeched , potential for further drop

2022-04-28T11:42:24

Relevance until2022-04-29

Technical analysis:

EUR/USD analysis for April 28, 2022 - Downside objective reeched , potential for further drop

EURUSD has been trading downside in the background and I see potential for the downside continuation.

Trading recommendation:

Due to the breakout of the bear flag in the background, I see potential for the downside continuation of the short-term trend.

Watch for potential selling opporutnities the intraday rallies with the downside objective at 1.0350.

MACD oscillator is showing strong downside momentum, which is another confirmation that sellers are in control.

Stochastic had fresh bear cross in the background, which is good sign for further downside movement.

Key resistance is set at the price of 1.0570

*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 28, 2022 - Downside objective reeched , potential for further drop