EURUSD Daily Analysis – April 12, 2018

EURUSD remains in the uptrend from 1.2214, the fall from 1.2396 is likely consolidation for the uptrend. Range trading between 1.2300 and 1.2396 would likely be seen in a couple of days. As long as 1.2300 support holds, the uptrend could be expected to resume and another rise to 1.2500 area is still possible after the consolidation. On the downside, a breakdown below 1.2300 support would indicate that the uptrend had completed at 1.2396 already, then the following downside movement could bring price back to 1.2200 zone.

EURUSD 4-hour chart