Created on April 24, 2026

EUR/USD Forecast: Euro Trying to Find Support at the 50 Day EMA

• The euro has gone back and forth during the trading session on Thursday as we continue to see the 50-day EMA offering support.

• The market is of course going to be watching the 50-day EMA as a floor and so far, it does look like it’s trying to hold up.

It is worth noting that the 10-year yield in the United States rose pretty significantly early during the session only to give that back up. Ultimately when I look at the EUR/USD chart, if we break down below the 50-day EMA then we could drop down to the 200-day EMA. To the upside of the 1.18 level is a barrier that I think is thick. It extends all the way to the 1.1850 level.

Interest Rate Differentials and Energy Prism

With this, I think you have a situation where traders are looking at this through the interest rate differential which favors the United States, but you should also keep in mind that traders are going to be looking at this through the prism of energy in the European Union as well.

After all, if there’s a major disruption in energy coming out of the Middle East to the European Union that’s going to have a massive influence on how their economies perform. So really at this point I think a little of a bounce makes a certain amount of sense, but there is a lot of resistance above and I think that will continue to be a bit of a struggle to get beyond there.

Really the only thing that I could see happening is if we see an end to the conflict in the Middle East. If we don’t, then you can look at this from a longer-term standpoint between the 1.14 and the 1.1850 level, but really, I think you’ve got a situation where you’re looking at this through the eyes of a range that’s getting close to the middle, so things might get choppy.

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Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.

Copper price remains affected by stochastic negativity, attempting to reach below $5.9700 to increase the chances of activating the temporary bearish corrective trend, to reach $5.8900 followed by $5.8200 level, which represents a new extra support against the current trading.

Forming a strong obstacle at $6.1200 level against the bullish attempts will increase the chances of forming negative attempts, to keep waiting to reach the previously suggested stations, to monitor its behavior to confirm the suggested trend in the upcoming trading.

The expected trading range for today is between $5.8200 and $6.0500

Trend forecast: Bearish

Copper price remains affected by stochastic negativity, attempting to reach below $5.9700 to increase the chances of activating the temporary bearish corrective trend, to reach $5.8900 followed by $5.8200 level, which represents a new extra support against the current trading.

Forming a strong obstacle at $6.1200 level against the bullish attempts will increase the chances of forming negative attempts, to keep waiting to reach the previously suggested stations, to monitor its behavior to confirm the suggested trend in the upcoming trading.

The expected trading range for today is between $5.8200 and $6.0500

Trend forecast: Bearish

Despite the weakness of the EURGBP last trading and its stability neat 0.8675 level, its overall stability within the minor bearish channel levels which are represented by 0.8715 level as an extension of the main resistance, besides providing negative momentum will increase the chances of targeting new negative stations that might begin at 0.8630 and 0.8600.

Stochastic is fluctuating near 20 level to provide extra negative momentum to activate the bearish trend and reaching the previously suggested stations.

The expected trading range for today is between 0.8630 and 0.8690

Trend forecast: Bearish

2026.04.24 2026.04.24
GBP/USD: Elliott Wave Analysis and Forecast for 24.04.26–01.05.26

Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/

Major Takeaways

• Main scenario: Consider long positions from corrections above the level of 1.3165 with a target of 1.3870–1.4300. A buy signal: the price holds above 1.3165. Stop Loss: below 1.3125, Take Profit: 1.3870–1.4300.
• Alternative scenario: Breakout and consolidation below 1.3165 will allow the pair to continue declining to the levels of 1.2936–1.2736. A sell signal: the 1.3165 level is broken to the downside. Stop Loss: above 1.3205, Take Profit: 1.2936–1.2736.

Main Scenario

Consider long positions above the level of 1.3165 with a target of 1.3870–1.4300 once the correction ends.

Alternative Scenario

Breakout and consolidation below 1.3165 will allow the pair to continue declining to the levels of 1.2936–1.2736.

Analysis

On the weekly timeframe, an ascending wave of larger degree (A) of B is developing. Within it, wave 1 of (A) has formed, and a downward correction has been completed as wave 2 of (A). The third wave 3 of (A) appears to continue forming on the daily chart, with wave iii of 3 developing as its part. On the H4 timeframe, the third wave of smaller degree (iii) of iii has presumably started to form, within which wave i of (iii) has formed and a local correction ii of (iii) is developing. If the presumption is correct, GBP/USD will continue to rise to the levels of 1.3870–1.4300 after the correction ends. The level of 1.3165 is critical in this scenario as a breakout below it will enable the pair to continue declining to the levels of 1.2936–1.2736.

This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.

Price chart of GBPUSD in real time mode

The British pound finds itself recovering as we are at the 1.35 level again. This is a market that has been a bit more positive in general over the last year and a half or so than many others against the US dollar. So, not a surprise if we’re seeing the Euro bounce that we’re seeing the pound bounce.

I still see a lot of noise just above though, and I think that even if we were to see this market rally from here to the 1.36 level, I don’t think it’s going to be easy. I don’t necessarily want to short this market, at least not yet, but signs of exhaustion could have me interested.

USD/JPY Technical Analysis

2026.04.24 2026.04.24
EUR/USD: Elliott Wave Analysis and Forecast for 24.04.26–01.05.26

Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/

Major Takeaways

• Main scenario: Consider long positions from corrections above 1.1445 with a target of 1.2088–1.2400. A buy signal: the price holds above 1.1445. Stop Loss: below 1.1405, Take Profit: 1.2088–1.2400.
• Alternative scenario: Breakout and consolidation below 1.1445 will allow the pair to continue declining to the levels of 1.1185–1.1000. A sell signal: the 1.1445 level is broken to the downside. Stop Loss: above 1.1485, Take Profit: 1.1185–1.1000.

Main Scenario

Consider long positions above the level of 1.1445 with a target of 1.2088–1.2400 once the correction ends.

Alternative Scenario

Breakout and consolidation below 1.1445 will allow the pair to continue declining to the levels of 1.1185–1.1000.

Analysis

On the weekly timeframe, an ascending wave of larger degree B is developing, with wave (A) of B forming as its part. On the daily timeframe, the third wave 3 of (A) is apparently unfolding. Within it, wave i of 3 has formed, corrective wave ii of 3 has been completed, and wave iii of 3 has started developing. The first wave of smaller degree (i) of iii is forming on the H4 chart. As its parts, wave iii of (i) has been completed, and a local correction iv of (i) is nearing completion. If the presumption is correct, EUR/USD will continue to rise to the levels of 1.2088–1.2400 after the correction ends. The level of 1.1445 is critical in this scenario. A breakout below it will allow the pair to continue falling to the levels of 1.1185–1.1000.

This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.

Price chart of EURUSD in real time mode

– Written by


Tim Boyer

STORY LINK GBP/USD Forecast Live: Retail Sales to Test Pound Sterling Strength

The Pound to US Dollar (GBP/USD) exchange rate traded without a clear direction on Thursday, as a combination of upbeat UK PMI data and a cautious market mood pulled the pair in opposite directions.

At the time of writing, GBP/USD hovered around $1.3505, having faced narrow volatility throughout the session.

The Pound (GBP) had a muted start to the trading session, drifting lower as markets considered the possible economic consequences of the Middle East crisis, including concerns that the UK government might introduce tax increases later this year.

As the day went on, however, Sterling found renewed support following the release of the UK’s preliminary April PMI data, which exceeded expectations in both the manufacturing and services sectors.

The services sector, in particular, drew focus, with activity rising from 50.5 to 52, outperforming forecasts that had pointed to a slowdown towards the 50 threshold.

The data also revealed stronger-than-expected growth in price pressures.

Reflecting on the results, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, said that price growth has surged at a pace rarely observed outside of the pandemic period, indicating that inflation may climb higher than many analysts had projected.

This led markets to revise their expectations for monetary policy, with speculation that the Bank of England (BoE) could still pursue tightening this year helping to underpin the Pound.

The US Dollar (USD) found early support as a cautious market mood boosted demand for safe-haven assets, with investors unsettled by developments in the Middle East.

While the US moved to extend its ceasefire arrangement, Iran signalled it had not formally accepted the agreement, citing the continued US blockade of the Strait of Hormuz. At the same time, reported attacks on vessels in the region added to investor unease.

Ongoing uncertainty and heightened geopolitical tensions dampened market sentiment, helping to underpin the US Dollar.

Short-Term GBP/USD Forecast: UK Retail Sales in Focus

Looking ahead, attention turns to the UK’s March retail sales release on Friday. A slight rebound of around 0.2% growth may offer some support to Sterling, though any upside is likely to be modest.

For the US Dollar, focus will shift to the University of Michigan’s final consumer sentiment reading. If the data confirms a sharp drop in household confidence during April, it could place some pressure on USD.

Broader market sentiment is also expected to remain a key driver of GBP/USD. Continued developments in the Middle East may inject further volatility, with shifts in risk appetite potentially causing fluctuations in the currency pair.

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