{"id":7019,"date":"2021-04-26T07:51:00","date_gmt":"2021-04-26T06:51:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=7019"},"modified":"2021-04-26T15:45:04","modified_gmt":"2021-04-26T14:45:04","slug":"eurusd-technical-analysis-1-2300-highly-possible","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-1-2300-highly-possible\/","title":{"rendered":"EURUSD Technical Analysis &#8211; 1.2300 Highly possible"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"7019\" class=\"elementor elementor-7019\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b0f06be elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b0f06be\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6ea0931\" data-id=\"6ea0931\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-78f8334 elementor-widget elementor-widget-text-editor\" data-id=\"78f8334\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The euro currency is on course for more gains against the US dollar this week, after April preliminary PMI manufacturing data from the eurozone came in much better-than-expected, lifting the <a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\" rel=\"noopener\">EURUSD<\/a> to its highest trading level since March 3<sup>rd<\/sup>.<\/p><p>Last week technical indicators across various time frames flashed buy signals. The daily and weekly Parabolic SAR indicator, which is a key trending indicator turned bullish. A series of bullish price patterns are also pointing to a coming rally towards the 1.2300 resistance level.<\/p><p>This week EURUSD traders are likely to react to the FOMC interest rate decision and the growth data from the United States. It is also noteworthy that Core PCE, which is the FED\u2019s preferred measure of inflation, is being released this week.<\/p><p>Looking at retail sentiment, negative sentiment has increased to 78 percent now, which means that only a small majority of retail traders are bullish right now This is creating the perfect conditions for a further short squeeze. And this has been evident already this morning.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3a36f93 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3a36f93\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bd641c0\" data-id=\"bd641c0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0cd3451 elementor-widget elementor-widget-image\" data-id=\"0cd3451\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"311\" height=\"113\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/EURUSD-CHART-5.png\" class=\"attachment-large size-large wp-image-7023\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-74e52e0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"74e52e0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b1f3b61\" data-id=\"b1f3b61\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f78c526 elementor-widget elementor-widget-text-editor\" data-id=\"f78c526\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>It may be prudent to mention why the EURUSD pair is actually rallying. The US dollar is falling across the board because traders and investors believe that the ongoing money printing the FED is unlikely to stop and the Biden administration is going to continue spending.<\/p><p>Some we need to keep in mind that eurozone growth is weak, so traders may be anticipating the fact that the US in going to continue to outpace the eurozone in this regard, and that the euro will underperform. This is currently not the case, so we should go with the mantra that the trend is our friend for now.<\/p><p>Watch out for further losses in the EURUSD pair while sentiment remains this bearish, and the technical also remain bullish. More of the same from the FED this week will likely confirm the next leg higher in the euro.<\/p><p><strong>EURUSD Short-Term Technical Analysis<\/strong><\/p><p>Bears had their chance last week as the EURUSD pulled back from the 1.2080 level, however, bulls shiftily bought the pullback, meaning a strong bid-tone is in force in the short-term horizon.<\/p><p>The four-hour time frame shows that an inverted head and shoulders pattern continues to play, and is pointing to a coming rally towards the 1.2300 resistance level at a minimum.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-741fd37 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"741fd37\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-08e3177\" data-id=\"08e3177\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d760e15 elementor-widget elementor-widget-image\" data-id=\"d760e15\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"343\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/EURUSD-4H-4.png\" class=\"attachment-large size-large wp-image-7024\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-86bb42b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"86bb42b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6790e29\" data-id=\"6790e29\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9fb148f elementor-widget elementor-widget-text-editor\" data-id=\"9fb148f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-37b9f4c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"37b9f4c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b75b6f5\" data-id=\"b75b6f5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-afe7de5 elementor-widget elementor-widget-text-editor\" data-id=\"afe7de5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Traders should also be aware that a much large bullish reversal pattern will form if the EURUSD pair reaches the currently yearly high, which is just below the 1.2350 level.<\/p><p><strong>EURUSD Medium-Term Technical Analysis<\/strong><\/p><p>Looking at the daily time chart, the technical are resoundingly bullish, with the RSI, MACD, and Parabolic SAR indicator all flashing big buy signals right now.<\/p><p>Furthermore, the weekly and monthly Parabolic SAR indicator is bullish, which means that the medium-term uptrend still has room to run higher.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-287052f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"287052f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3dce0c2\" data-id=\"3dce0c2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-78c9f2d elementor-widget elementor-widget-image\" data-id=\"78c9f2d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"342\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/EURUSD-1D-6.png\" class=\"attachment-large size-large wp-image-7025\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-65064d8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"65064d8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3b598c6\" data-id=\"3b598c6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7e8b7c4 elementor-widget elementor-widget-text-editor\" data-id=\"7e8b7c4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The euro currency is on course for more gains against the US dollar this week, after April preliminary PMI manufacturing data from the eurozone came in much better-than-expected, lifting the EURUSD to its highest trading level since March 3rd. Last week technical indicators across various time frames flashed buy signals. The daily and weekly Parabolic [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":6159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[18,42,69],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EURUSD Technical Analysis - 1.2300 Highly possible - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-1-2300-highly-possible\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EURUSD Technical Analysis - 1.2300 Highly possible\" \/>\n<meta property=\"og:description\" content=\"The euro currency is on course for more gains against the US dollar this week, after April preliminary PMI manufacturing data from the eurozone came in much better-than-expected, lifting the EURUSD to its highest trading level since March 3rd. Last week technical indicators across various time frames flashed buy signals. The daily and weekly Parabolic [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-1-2300-highly-possible\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-26T06:51:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-26T14:45:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/GettyImages-185088289.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"423\" \/>\n\t<meta property=\"og:image:height\" content=\"296\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-1-2300-highly-possible\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/eurusd-technical-analysis-1-2300-highly-possible\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"EURUSD Technical Analysis &#8211; 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