$EURUSD / Coiling for direction

15 apr 2018

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  Key Trend Points : 1hr micro time frame
  
  
• Finally some bullish momentum coming into play on the hourly chart. False breakout at the $1.2390 level signals a directional trend change causing a new resistance level to appear at the $1.2349 level as confirmed by the EMA crossover.
  
• A possible consolidation in the works may see price action revisit it's support line as seen by it's earlier EMA crossover at $1.2264 area.
  
• On the flip side, upside momentum for EURSD is intact, as price action continuous to stay above the it's ascending trendline set at $1.2236 level.
  
• For next week's trading session, we see EURUSD resistance levels on the 1hr chart are as follows: $1.2349 & $1.2403 and $1.2458, while support levels are seen at: $1.2264, $1.2222, and deeper below at $1.2167.