FX.co ★ Indicator analysis. Daily review for the EUR/USD pair on April 27, 2021

Trend analysis (Fig. 1).

On Tuesday, the market from the level of 1.2083 (closing of yesterday's daily candlestick) will try to continue moving downward with the target of 1.2050 - the support line (blue bold line). After testing this line, the price may start working upwards, with the target of 1.2116 - the upper fractal (red dotted line). And upon reaching this level, it may further work upward with the target of 1.2166 - the level of 161.8% (blue dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

• Indicator analysis - down;
• Fibonacci levels - down;
• Volumes - down;
• Candlestick analysis - down;
• Trend analysis - up;
• Bollinger lines - up;
• Weekly chart - up.

General conclusion:

Today, the price from the level of 1.2083 (closing of yesterday's daily candlestick) will try to continue moving downward with the target of 1.2050 - the support line (blue bold line). After testing this line, the price may start working upwards, with the target of 1.2116 - the upper fractal (red dotted line). And upon reaching this level, it may further work upward with the target of 1.2166 - the level of 161.8% (blue dashed line).

Unlikely scenario: the price from the level of 1.2083 (closing of yesterday's daily candlestick) will try to continue moving down with the target of 1.2019 - the 23.6% retracement level (red dotted line). Having tested this level, it may further work downward with the target of 1.1975 - 21 EMA (black thin line). After testing this line, the market may start working upwards.