Forex Analysis & Reviews: Forecast for EUR/USD on April 21, 2021

EUR/USD The euro traded in a 60-point range yesterday, closing the day at the opening level. The price settled above the 50.0% Fibonacci level (daily). Now the price is ready to continue rising to the next Fibonacci level of 61.8% at the price of 1.2105. Consolidating above it will entail another wave of growth to the Fibonacci level of 76.4% at the price of 1.2200. The trend breakdown will occur after the price settles below the MACD line, which is now just above the 38.2% Fibonacci level.

At the moment, there is no reversal situation on the four-hour chart. The growth is confident and rhythmic.

Analysis are provided by InstaForex