Weekly Price Action Setups & Key Levels | Apr 7-11

eu daily market commentary

EURUSD – Weekly 20 EMA Holding
Stepping out to take a look at the weekly chart, the Euro has sold off for 3 weeks straight, landing right on top of the weekly 20 ema (@1.3679). The pair is holding that line for now, which was also a SH (swing high) back in Jan. this year, so there may be some slight underpinning to start the week.

Watch for a push back up towards the key resistance in 1.3820 that we talked about last week.

***For a great video lesson on Finding Key Support & Resistance Levels, click here.

If last weeks low at 1.3670 collapse, we’ll likely see an unwinding towards 1.3500

Dow Jones Index – False

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