EURUSD Weekly Analysis – April 20, 2014

EURUSD remains in uptrend from 1.2747 (Apr 4, 2013 low), the price action from 1.3966 could be treated as consolidation of the uptrend. Range trading between 1.3672 and 1.3966 would likely be seen over the next several weeks. Support is at 1.3672, as long as this level holds, the uptrend could be expected to resume, and another rise towards 1.4500 is still possible. On the downside, a breakdown below 1.3672 support will signal completion of the uptrend, then deeper decline to 1.2400 area could be seen.

eurusd chart