EUR/USD Hot Forecast for 4th May, 2021

EUR/USD quickly reversed Monday’s uptick and re-shifts the attention to the downside, particularly to the key 1.2000 neighbourhood. The continuation of the leg lower is seen meeting the initial support at 1.200 psychological round figure mark. Below the 1.200 level, stance for EUR/USD is seen shifting to negative.

On the flip side , the development of MACD indicator (bearish divergence) hints at swelling downside momentum. That was a clear separator of ranges last month. It is followed by 1.1950, 1.1930, and then 1.1860. Some resistance is at 1.2070, a significant support resistance line from last week, and then 1.2110, both swing highs on the way up. The April peak of 1.2150 is the next level to watch.

The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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