EURUSD Daily Analysis – April 20, 2018

EURUSD moved sideways in a trading range between 1.2300 and 1.2413. As long as 1.2300 support holds, the price action in the range could be treated as consolidation for the uptrend from 1.2214 and a breakout of 1.2413 resistance could trigger another rise towards 1.2550. On the downside, a breakdown below 1.2300 support would suggest that the upside movement had completed at 1.2413 already, then another fall towards 1.2150 could be seen.

EURUSD 4-hour chart