DAILY TECHNICAL ANALYSIS FOR APRIL 27, 2023

27Apr27th April 2023

DAILY TECHNICAL ANALYSIS FOR APRIL 27, 2023

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EUR/USD

Current level – 1.1041

The positive attitudes remained during the past trading session, with the euro continuing to appreciate in the direction of the dollar. The resistance at 1.1004 has been successfully breached. If the bulls continue, an attempt to breach the next resistance attack at 1.1065 is possible. Otherwise, if the bears enter the market, we are likely to see a correction and attempt to breach the nearest support level which is at 1.0969. For today, important U.S. macroeconomic news are Preliminary GDP at 12:30 GMT, Initial Jobless Claims at 12:30 GMT, Pending Home Sales at 14:00 GMT.

USD/JPY

Current level – 133.47

The negative attitudes towards the Ninja continue, with the bulls trying to stop the bear attack, but to no avail. If the bear attack holds, a possible scenario is an attempt to breach the support level at 132.96. Otherwise, if the bulls manage to enter the market, it is possible that the price heads towards the next resistance level at 135.02.

GBP/USD

Current level – 1.2468

Over the past trading session, the pound has appreciated against the dollar and at the time of writing, the pair is headed towards the resistance level at 1.2506. If the bulls’ onslaught continues, then we are likely to see an attempt to breach the aforementioned level. Otherwise, if bears enter the market, a possible scenario is a correction to the nearest support level, which is at 1.2418 .

Midday update for Gold

Gold prices continues to fluctuate within the symmetrical triangle, moving around the EMA50, and as long as the price is below 2007.45, our bearish overview will remain valid for today, reminding you that our expected targets begin by breaking 1978.00 to confirm opening the way to visit 1957.30 as a next main station.

The expected trading range for today is between 1980.00 support and 2010.00 resistance.

The expected trend for today: Bearish

Source: Technical analysis