EURUSD Weekly Analysis – April 27, 2014

EURUSD moved sideways in a range between 1.3672 and 1.3966. The price action in the range is likely consolidation of the uptrend from 1.2747 (Apr 4, 2013 low). As long as 1.3672 support holds, the uptrend could be expected to resume, and another rise towards 1.4500 is still possible after consolidation. However, a breakdown below 1.3672 support will indicate that the uptrend had completed at 1.3966 already, then the following downward movement could bring price to 1.2400 zone.

eurusd chart