EURUSD – Still In A Range-bound Market

EURUSD is in a sideway and the beginning of uptrend is expected.
Patience is required in trading the consolidation.

EURUSD Weekly Price Analysis – April 30
A breakout at the upper resistance level at $1.276 or a breakdown at the lower support level at $1.133 followed by a retest may occur.

EURUSD Market
Key Levels:

Resistance levels: $1.276, $1.300, $1.333
Support levels:      $1.150, $1.130, $1.110

EURUSD Long-term Trend: RangingIn its long-term outlook, EURUSD is in a range-bound market. The bear’s increased momentum dropped the price down to $1.208 in the support area, with its wick touching the EMA-9 during the session yesterday.

Today’s daily chart opening candle at $1.211 in the support area was bearish as the bears remained dominant in the market. EURUSD dropped further to $1.208 in the support area within the range.

Price revolves around the two EMAs and the signal of the stochastic oscillator pointing sideways at level 95% in the overbought region is an indication that the price of the currency pair is in a range-bound zone, and may remain in the direction in the days ahead.

EURUSD is ranging and trading between $1.276 in the upper resistance area and at $1.133 in the support area of the range. Patience coupled with a retest is needed before a position is taken.

EURUSD Medium-term Trend: RangingOn the 4-hour chart, the market is in a consolidation. The bulls increased momentum pushed the price to $1.212 in the resistance area as the market opens yesterday.

The EURUSD pair dropped to $1.211 in the support area before the end of yesterday’s session as the pair returned back within the range.

Today’s 4-hour opening doji candle at $1.209 was bullish as the bulls remained dominant in the market. EURUSD is initially up at $1.209 in the resistance area.

Price is below the EMA-9 and the signal of the stochastic oscillator points down at around level 59% in the overbought region an indication of downward momentum within the range in the medium-term.

The EURUSD pair is ranging and trading between $1.223 in the upper resistance area and at $1.133 in the lower support area of the range. Patience is required before a position is taken.

Note: Forexschoolonline.com is not a financial advisor. Do your research before
investing your funds in any financial asset or presented product or event. We
are not responsible for your investing results.