27.04.201109:35 Forex Analysis & Reviews: EUR/USD Daily Forecast For April 27th / 2011

Long-term review

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DAILY FORECAST :

The EUR/USD is still in a strong Bullish trend situation, this is indicated by the ADX (14) above the 25 lines level, secondly the price traded above the 5 Days & 20 Days Simple Moving Avarage, and thirdly the spot rate is between the Upper Bollinger bands 20 Deviation 2 and deviation 1, all this situation indicates strong Bullish situation, we predict the EUR/USD to take a retracement to the downside before going up again, after the Royal Weeding of Prince William and Kate approximately next week, because this event will help this pair to be strong. However, today this pair will test the 1.4725 level; if this level is broken too the 1.4750 will be the next target for today; on the other hand if the 1.4658 can be broken down by this pair today it will hold the Bullish situation of this pair today and will bring this pair to the 1.4625 as the first target and the mark 1.4600 as the second target.

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