April 15th, Eurobulls are set to pass the level of 1.20

On Wednesday, April 14, following the auction, the euro grew by 0.25%, to 1.1978. In the American session, the price rose to 1.1987. The growth of quotations was facilitated by the cross pair and the rally of the Australian and the New Zealander. Sentiment for the euro improved following statements by European Commission President Ursula von der Leyen on vaccines, and statements by Fed Chairman Jerome Powell were also supported.

Ursula von der Leyen said the EU will receive 50 million BioNTech-Pfizer COVID-19 vaccines earlier than expected. Powell said the Fed will cut back on $ 120 billion in government bond purchases, long before considering raising interest rates.

Scheduled statistics (GMT +3):

• 11:00, the ECB economic bulletin will be released in the eurozone.
• 11:30 Britain is to publish a report on lending conditions.
• 15:30, Canada will announce a change in manufacturing shipments for February. The US is to report changes in March retail trade and initial jobless claims, and will also release the Philadelphia Fed Manufacturing Index and the New York Fed Manufacturing Activity Index for April.
• 23:00, the US will report changes in net and total purchases of long-term US securities by foreign investors in February.

Current situation:

Major currencies are showing mixed performance. The New Zealand dollar is again a locomotive today. It is followed by the pound and the yen. The euro is close to moving into positive territory. At the time of writing, the euro is worth 1.1975. The price is under slight pressure from the cross pairs.

On Thursday, resistance is the level of 1.20 (112 dg.). Given that US bonds are getting more expensive, buyers will have the opportunity to re-renew the maximum today. The wave structure from the 1.1877 low (Apr 13) is not reliable for sustained gains, so be sustained on renewing the high. On a triple divergence, profit-taking on long positions may follow. If sellers refuse to defend the 1.1990 level, then the probability of a test of the 1.2030 level remains. Support is the level of 1.1952.

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