Apr 27 2021 0

Oil, euro and Bitcoin prices are showing signs that the global market is recovering from a very difficult time with the coronavirus. Therefore, it's time to make a fresh plan for the latest developments on today's forex charts.

Latest updates:

  • Market risk sentiment continued to improve as economic data pointed to a recovery in global growth ahead of this week's Federal Reserve meeting.
  • Manufacturing activity indexes in early April, released last week, hit record highs in the US, and improvements are also impressive in the EU.
  • Oil prices fell more than 1% in the first session of the week due to fears that new Covid-19 infections in India would reduce fuel demand of the world's third-largest oil importer and as investors adjust. positions ahead of OPEC's production increase plan in May.
  • The price of BTC rallied as much as 8% on Monday and is slowly regaining nearly 5 consecutive days of previous losses, even though the digital currency has lost about a fifth of its value this month from its all-time high.

USD/JPY

USD/JPY Apr 27

The price has recovered from the ambiguous breakout move. The top of the previous Spinning Top pattern has been broken. We can consider prospective buy orders. The SL is on the bottom of the pattern. In case the daily candle closes above the highest price of this Spinning Top pattern, full positions can be filled, initially targeting around 109-109.5.

EUR/USD

EUR/USD Apr 27

After the strong bullish candlestick last week, the uptrend slowed down in the first session of the week, creating a remarkable Spinning Stop candlestick pattern on the daily chart. As warned before, I do not encourage you to buy in the current conditions because the market is in overbought state. The price has approached the upper boundary of the descending channel, and the increase (potential) amplitude is very small. During the new session, we should observe the lower boundary of the Spinning Top pattern. If the price closes (day frame) below this level, the possibility of further decline is quite high.

GBP/USD

GBP/USD Apr 27

There was not much movement on the GBPUSD chart. We continue to expect prices to soon return to the 1.40 zone. You can continue maintaining buy orders with the SL placed below the 1.380-85 zone.

USD/CAD

USD/CAD Apr 27

After many days close to the lower boundary of the range, around 1.250, this price area was broken. If there is an order, you can keep it. Move SL to reduce risk and target 1.235. Consider exiting the command in this area. If there is no sell order, you should not enter at the current price range because the measure of decrease is very small. Only consider new sell orders when the price retests the 1.25 zone.

AUD/USD

AUD/USD Apr 27

Price invalidated the previous head and shoulders pattern and re-tested the 0.78 top zone. Pay close attention to this price zone. In the event that it breaks, short-term traders can buy again. Also, for medium to long term traders, buy orders can still be kept.

author

Fanara Filippo

Hey, I’m Fanara Filippo. I’m the founder of this site. I'm currently living in Bangkok, Thailand. I have been trading forex for more than 5 years. You can read my articles about the best forex brokers on this page. Let’s review brokers today.


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