EUR / USD forecast of the Euro Dollar exchange rate for 04/08/2021
To date, the indicator of the Euro / Dollar rate is moving within the framework of a correctional fall, at this stage the quotes are at the level of 1.1805. Movements are being made that exceed the cloud of the technical indicator Ichimoku and indicate that the bears have the advantage now.
As of tomorrow, April 8, 2021, the bearish trend will have an advantage on the EUR / USD rate, this will be confirmed by testing near the level of 1.1925, after which it will remain in a downtrend. Forecasting price marks for the rate, which will be directed to the level of 1.2145, will follow from this level.
A test of such a downward trend will be testing of the support area, which will be complemented by a change in the direction of prices from the upper line of the descending channel. When passing through the resistance area, as well as when the price changes above 1.1825, one should notice a subsequent decline in the downward direction, which will follow to 1.1505.
However, one should not exclude the possibility of an upward trend in the quotes of the price level of the Euro against the US Dollar, the consequence of which will be the advantage of the “bulls”. Also, in the future, a change in the price level will be expected when it rises to the level of 1.1925. In the future, we should expect the fixing of the upward direction, after which the growth of quotations will follow near the level of 1.2145.
It should be noted that on tomorrow, April 8, 2021, the EUR / USD quotes will be checked at 1.1825, as a result of which the bears will have the advantage. Further, the price level will develop in a downward direction and will follow to the level of 1.1505, which will be confirmed by the test of the support area. However, one should not forget the likelihood of an upward trend on the next day, as a result, the EUR / USD rate will break through the 1.1925 mark. This time the bulls will have the advantage and the price level will go to the level of 1.2145.
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