FX.co ★ EURUSD technical overview for April 22

Overview:

The euro is reaching new highs. The movement is located above the average level of the upside price channel. Break of the SAR parabolic system April 20 opened new upside levels for the price.

Analysis:

Current movement has a tendency to accelerate compared with the average line of the price channel. There are no strong divergences of the price with oscillators. The lower power level is 1.4521, coinciding with the SAR parabolic system in H4. Last fractals in D1 H4 push the price to the upside. Stochastic oscillator gives a buy signal by leaving the oversold zone.

Recommendations:

SELL trading is quite pointless at the moment. We should concentrate on BUY trading with a target at yesterday’s high (1.4648). It is recommended to set S/L behind the power level and the parabolic system – 1.4500.