EURUSD Weekly Analysis – April 8, 2018

EURUSD continued its sideways movement in a trading range between 1.2154 and 1.2555. As long as 1.2154 support holds, the sideways move could be treated as consolidation for the uptrend from 1.1554 and a breakout of 1.2555 resistance could trigger another bullish movement towards 1.3000. On the downside, a breakdown below 1.2154 support would indicate that lengthier consolidation the uptrend from 1.0340 (Jan 3, 2017 low) is needed, then deeper decline to 1.2050 area could be seen. Below this level would aim 1.1700.

EURUSD daily chart