EUR / USD forecast Euro Dollar for the week April 12 – 16, 2021
Currency pair Euro Dollar EUR / USD completes the trading week near the 1.1881 area. The pair continues to move within the framework of the correction and the formation of the “Head and Shoulders” pattern. Moving averages indicate a bullish trend for the pair. Prices are testing the area between the signal lines, which indicates pressure from buyers of the European currency and the likely continuation of growth from the current levels. At the moment, we should expect an attempt to develop a bullish correction and test the resistance area near the level of 1.2075. Where is the rebound and the continuation of the fall of the Euro Dollar expected? The potential target of the decline is the area below the level of 1.1075.
EUR / USD forecast Euro Dollar for the week April 12 – 16, 2021
An additional signal in favor of the fall of the EUR / USD currency pair on Forex will be a test of the broken trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the Head and Shoulders reversal pattern. Cancellation of the option to reduce the quotations of the Euro / Dollar pair in the current trading week April 12 – 16, 2021, will be a strong growth and a breakdown of the level of 1.2335. This will indicate a breakdown of the resistance area and continued growth of the pair to an area above the level of 1.2725. With the breakdown of the support area and closing of quotations below the level of 1.1555.
Among the important news from America and Europe in the next trading week that may have an impact on the EUR / USD rate, it is worth highlighting: European Union Retail Sales m / m, ZEW Economic Sentiment Index in Germany (ZEW Germany Economic Sentiment Indicator), EIA United States Crude Oil Stocks Change, United States Retail Sales m / m, United States Building Permits (United States Building Permits).
Thus, EUR / USD Forecast Euro Dollar for the week of April 12 – 16, 2021 suggests an attempt to correct and test the resistance area near the level of 1.2075. Where can we expect the pair to continue falling to the area below the level of 1.1075. An additional signal in favor of a decline will be a test of the resistance line on the relative strength index (RSI). Cancellation of the option to drop the Euro / Dollar will be a strong growth and a breakdown of the level of 1.2335. In this case, we should expect the pair to continue to rise with a potential target at the level of 1.2725.
Gold Price Forecast Today Weekly Forex Forecast 12-16 April 2021
GBP / USD Forex Forecast for the week on April 12 – 16, 2021
Currency pair Pound / Dollar GBP / USD ends the trading week near the 1.3710 area. The pair continues to move within the framework of the fall and the beginning of the development of the bearish Wolfe Wave pattern. Moving averages indicate a bullish trend. Prices are testing the area between the signal lines, which indicates pressure from buyers and a potential continuation of the rise in the British Pound against the US Dollar at current levels. At this point, we should expect an attempt to grow and test the resistance area near the level of 1.3895. Further, the rebound and the beginning of the fall in the Pound / Dollar quotes to the area below the level of 1.2155.
GBP / USD Forex Forecast for the week on April 12 – 16, 2021
An additional signal in favor of the fall of the British Pound will be a test of the trend resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the bearish Wolfe Wave pattern. Cancellation of the option to drop the GBP / USD pair in the current trading week on April 12 – 16, 2021 will be a strong growth and a breakdown of the 1.4475 area. This will indicate a breakdown of an important resistance area and a continued rise to the area above the level of 1.4955. Confirmation of the fall in the GBP / USD currency will be the breakdown of the support area and the closing of the price below 1.3645, which will indicate a breakdown of the lower boundary of the bullish Wolfe Wave pattern.
Among the important news from the UK that may have an impact on the Pound / Dollar rate, it is worth highlighting: United Kingdom Manufacturing Production m / m, UK Gross Domestic Product (GDP) m / m (United Kingdom Gross Domestic Product (GDP) m / m).
Therefore, GBP / USD Forex Forecast for April 12-16, 2021 suggests an attempt to rise and test the resistance level near the 1.3895 area. Where can we expect the currency pair to continue falling with a target below the 1.2155 area. An additional signal in favor of a decline will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to drop the pair Pound / Dollar will be a strong growth and a breakdown of the level of 1.4475. In this case, we should expect the pair to continue to rise with a potential target above the level of 1.4955.
USD / JPY forecast Dollar Yen for the week of April 12 – 16, 2021
Quotes of the Dollar Yen USD / JPY currency pair end the trading week near the area of 109.81. The pair continues to move within the framework of the growth and the ascending channel. Moving averages indicate a bullish trend. Prices have broken the area between the signal lines upward, which indicates pressure from the US dollar buyers and a potential continuation of the rise. At the moment, we should expect an attempt to develop a correction and a test of the support level near the 107.55 area. Then, the rebound and the continuation of the rise of the pair to the area above the level of 115.25.
USD / JPY forecast Dollar Yen for the week of April 12 – 16, 2021
An additional signal in favor of the rise of the Dollar / Yen pair in the current trading week will be a test of the rising trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option to raise the USD / JPY pair in the current trading week on April 12 – 16, 2021 will be a fall and a breakdown of the 105.35 area. This option will indicate a breakdown of the support area and the continuation of the fall of the pair on Forex to the area below the level of 99.45. Confirmation of the rise in the USD / JPY pair will be the breakdown of the resistance area and the closing of the price above the level of 111.95.
Among the important news from Japan, which may have an impact on the Japanese Yen rate, it is worth highlighting: Speech by Governor Kuroda Speech, Chairman of the Bank of Japan (BoJ).
Thus, USD / JPY Dollar Yen Forecast for the week of April 12-16, 2021 suggests an attempt to test the support level near the 107.55 area. Where can we expect the pair to continue to grow to the area above the level of 115.25. An additional signal in favor of the rise will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option for the pair will be a fall and a breakdown of the level of 105.35. This will indicate a continued decline in the pair with a potential target below the 99.45 area.
