Black Pipper

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Analysis and forecast of EUR / USD for today, April 28, 2021

On Tuesday, EUR / USD rose to 1.2090 (+ 0.04%).

Buyers seized the initiative in the support area at 1.2057, but failed to break above 1.2093, as on the eve of Jerome Powell’s press conference, the yield on US debt began to rise and reached 1.639%.

At the moment, the pair returned to the 45th degree (point 3 on the chart) and the trend line (4), and is quoted at 1.2064.

Before the release of the results of the FOMC meeting, buyers are losing ground, although the bears are not showing increased activity. If the support area fails, the pair will go down to the 67th degree – 1.2035 (5).

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There is no special news in the economic calendar. Markets await performances by Jerome Powell and Christine Lagarde (17:00 GMT). In a favorable scenario, the pair will return to 1.2094. In case of a sharp rebound, a Double Bottom will form with the prospect of growth to 1.2113.


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