FX.co ★ Indicator analysis. Daily review for the EUR/USD pair on April 28, 2021

Trend analysis (Fig. 1).

On Wednesday, the market from the level of 1.2090 (closing of yesterday's daily candlestick) will try to start moving down with the target of 1.2070 - the support line (blue bold line). In case of testing this line, it is possible to continue working upward with the target of 1.2116 - the upper fractal (red dotted line). Upon reaching this level, it is possible to continue to work upward with the target of 1.2166 - the target level of 161.8% (blue dashed line). Much will depend on the news that comes out at 18.00 and 18.30 UTC.

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 1.2090 (closing of yesterday's daily candlestick), will try to start moving down with the target of 1.2070 - the support line (blue bold line). In case of testing this line, it is possible to continue the working upward with the target of 1.2116 - the upper fractal (red dotted line).

Unlikely scenario: from the level of 1.2090 (closing of yesterday's daily candlestick), the price will try to continue moving downward with the target of 1.2070 - the support line (blue bold line). Once this line is tested, it may continue to decline with the target of 1.2019, the 23.6% retracement level (red dashed line). After testing this level, it is possible to work up.