EURUSD Moves to Retest Trend Line Resistance

by Justin Bennett  · 

April 8, 2019

by Justin Bennett  · 

April 8, 2019

by Justin Bennett  · 

April 8, 2019

EURUSD bulls are on the move today after testing 1.1180 support last week.

The bullish candlestick on April 2nd suggested an influx of buying pressure in the area. However, the price action late last week wasn’t all that convincing.

Buyers are putting any doubts to rest today, though, with the pair up 50 pips at the time of this writing.

But the real test for bulls is just above the current price.

I still think the trend line from the March 2018 high near 1.1290 will be a factor if tested over the coming sessions.

EURUSD bulls failed to hold onto the breakout that occurred here in March, but that doesn’t mean the level is no longer valid.

That said, this is not a level I would sell from without some form of bearish price action such as a pin bar.

I would rather wait this out and see how the pair reacts to the March 2018 trend line near 1.1290.

The false break last month and bearish momentum since early last year point to additional losses.

As of now, that 1.1180/90 support area stands in the way of the November 2017 trend line at 1.1060.

I’m not opposed to turning bullish EURUSD, but buyers need to clear this trend line and prove they can hold onto it as new support first.

[thrive_custom_box title=”” style=”dark” type=”color” color=”#fef5c4″ border=”fadf98″]

Want to see how we’re trading EURUSD? 

Click Here to join us and save 40% – Ends April 30th!


EURUSD key support and resistance

Continue Learning


Leave a Reply

Your email address will not be published. Required fields are marked *

  1. Sorry to seem dumb but on my chart on 3 March 2018 EURUSD was 1.2176 on an H4 chart and on 26 March it was 1.2460, so I do not understand where the figure of 1.1290 comes from. I really want to follow the thinking here.

  2. wow this is fantastic todays trading for eur/usd from 1.12101 to 1.12727 was bullish which is 58 pips althogther which is so fantastic wow

    1. Bolaji, I quite agree with it was so fantastic today. Thank God for that.
      I’m Shina…. have a green pip week

  3. Good one, I really appreciate your technical analysis , it helps a lot.
    and please I have not yet see any respond on your whatsApp

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}