EUR/USD Technical Analysis - 14/April

By Praful Patat   05:00 GMT

EURUSD is consolidation on daily chart, also EURUSD formed double top on 1 hour chart and reverse. EURUSD break of 1.4525 further going up side toward 1.4554-1.4638 area and break of 1.4390 support going down side toward 1.4245 on intraday.  EURUSD backed from 38.2% at 1.4394, extension at 1.4554, 1.4638 still in progress. EURUSD completed 161.8% extension at 1.4470 and retrace toward 1.4082, 1.3836 area in bigger range this is only possible if not break of 1.4470 extension. In EURUSD minor resistance is at 1.4477, possible reverse from 1.4477. If reverse from 1.4477 then going down toward 1.4375-1.4335

New High:  1.4481, 1.4535, 1.4496.

New Low:  1.4374, 1.4428, 1.4389.

Pivot Point: R3-1.4565, R2-1.4524, R1-1.4499, PP-1.4458, S1-1.4417, S2-1.4392, S3-1.4351.

SEE BIG CHART