• Shivkumar

April 21st - Forex, Crypto & Defi Token Analysis - By Shivkumar


Forex Analysis

EUR/USD

  • 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

  • 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  • US dollar recovery, backed by covid woes, superseded upbeat UK jobs report.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.

XAU/USD

  • 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.


Cryptocurrency Analysis

BTC/USDT

  • 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.

ETH/USDT

  • 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.

XRP/USDT

  • 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.

BNB/USDT

  • 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.

DOGE/USDT

  • 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

UNI/USDT

  • 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.

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FOREX - CRYPTOCURRENCY