EURUSD Weekly Analysis – April 21, 2019

EURUSD moved sideways in a trading range between 1.1176 and 1.1448 for several weeks. As long as 1.1448 resistance holds, the price action in the range could be treated as consolidation for the downtrend from 1.2555 (Feb 16, 2018 high), a breakdown below 1.1176 support could trigger further downside movement towards 1.1000. Only break above 1.1448 resistance could signal completion of the downtrend.

EURUSD daily chart