April 21st - Forex, Crypto & Defi Token Analysis - By Shivkumar
EUR/USD is in downside consolidation above 1.2000 remains pressured around 1.2030 as US dollar clings to overnight recovery gains.
J&J covid vaccine news fails to cheer the euro.
We can see a corrective pullback beyond the 61.8% Fibonacci retracement level of 1.2037 and 1.2080 and 1.2115, be the tough resistances.
Trend bearish and further weakness expected.
GBP/USD holds lower ground below 1.3950 UK CPI data awaited.
US dollar recovery, backed by covid woes, superseded upbeat UK jobs report.
Failure to cross 1.4000 keep sellers in control, and can test the low of 1.3870 for short term.
Gold bulls are back in the game, $1800 barrier on buyers’ radars.
A break above $ 1784 could expose the tops at $1790, above which a test of the $1800 level would be inevitable.
On the downside $1775 awaits support of $1772. It would invalidate the bullish breakout, for a test of the support at $1769.
The pair will be range bound for a few days if the price rebounds off the $50,460 support.
A break above $58,775 will enhance for a retest of the all-time high at $64,849.27.
A break below $ 50,460 can drop to $43,006.77.
If the price above $2,154 it will suggest strong buying on dips.
The bulls will then try to push the price to $2,545.84.
On the downside below $ 2154, could slide to $2,040.77and could fall to $1,542.
If the bulls propel the price above $1.56, the pair could rise to $1.80 and then to $1.96.
On the downside if the price is below $1.23, a drop to $1.10 and $ 0.86 is possible.
The buyers thrust the price above $550, could rally to $600 and then to $638.56. A breakout of this resistance could reach $832.75.
If the price turns down and breaks below the $428 support, the decline could extend to $348.69.
The bulls have continued with their recovery attempting to drive the price at $0.45. If they succeed, could reach $0.63.
If the price turns down dips back below $0.35, it could then remain stuck in a range for a few days.
The trend will favor the bears if they can sink and sustain the price below $0.23.
Defi Token Analysis
The recovery seems to have hit a wall at $32.24 suggests that traders are selling on rallies indicating a possible change in sentiment.
If the bears sustain the price below $30.66 the selling could pick up could slump to the critical support at $25.52.
A strong rebound from these level can see buying at the dips and can be range-bound between $25.52 and $38 for a few days.
On the downside a break below $25.52 could result in a drop to $20
For More Updates stay connected, Stay Safe. God Bless.
Register for Technical news and market update email@example.com || Facebook :- www.facebook.com/shivfxcrypto ||Instagram :- www.instagram.com/shivfxcrypto1 ||Twitter :-www.twitter.com/shivfxcrypto|| Whats App :- +91-70439-12326