The EUR / USD pair, in the morning of the American session, in 4-hour charts is trading, above the 200 EMA and the 21 SMA, with an upward trend, although the eagle indicator is showing overbought, a correction is imminent in the next few hours.
The consumer price index rose to 2.6%, the highest level since 2018. The figure beat expectations and triggered a drop in Treasury yields, pushing the dollar lower.
The EUR / USD pair rose to 1.1933 after the US inflation figures for March were known that were above expectations, in turn gave the Euro and the stock market a bullish momentum.
Around the zone of 1.1930, and 1.1962, there are 2 levels of resistance, it is likely that the EUR / USD pair will find these top, and its movement will be stopped.
The eagle indicator has entered an overbought zone, it is likely that there will be a correction before another bullish wave, given that 1.1930-1.1960, is a strong barrier, it is expected that there will be a technical correction.
Our recommendation is to buy above 1.1912, if this level is broken, and trades below 1.1901 there is the 3/8 of Murray and the EMA of 200, it will be an opportunity to sell.
Support And Resistance Levels For April 13 – 14, 2021
Resistance (1) 1.1946
Resistance (2) 1.1972
Resistance (3) 1.1991
Support (1) 1.1898
Support (2) 1.1878
Support (3) 1.1846
Trading tip for EUR/USD for April 13 – 14, 2021
Buy if rebound 1.1912 (EMA 200) with take profit at 1.1962, stop loss below 1.1880.
Sell below 1.1901 (SMA 21 and EMA 200) with take profit at 1.1840, stop loss above 1.1935.
The material has been provided by InstaForex Company – www.instaforex.com
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