EURUSD Technical Analysis 28 April 2015

As USD Index got below 97.4, EURUSD had a strong rise for a couple of days and is trying to stop its down trend for a while. Currently it is testing 55 Hrs EMA resistance and getting some strength to start its uptrend.

As long as it does not break over its linear trend as seen on chart, we cannot say anything about an uptrend but, USD index is currently supporting it to develop one. 1.1000 is an important level to pass before EURUSD starts to go up. Traders should watch this level carefully. 1.0925 is another resistance before 1.1000. If cannot break over 1.1000, 10750 journey may begin.EURUSD_Daily


Also as seen on 4Hrs chart, EURUSD broke over a falling wedge and took its move to the upper level of its linear trend. Also this level is 61.8th level of fibonacci correction so we can say that 1.1000 – 1.1002 will be a strong resistance.


Pivot : 1.0925
SUpPORT: 1.0860-1.0825-1.0785
RESISTANCE : 1.0925-1.0960-1.1000


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