- Key Trend Points : 1hr micro time frame
Finally some bullish momentum coming into play on the hourly chart. False breakout at the $1.2390 level signals a directional trend change causing a new resistance level to appear at the $1.2349 level as confirmed by the EMA crossover.
- A possible consolidation in the works may see price action revisit it's support line as seen by it's earlier EMA crossover at $1.2264 area.
- On the flip side, upside momentum for $EURSD is intact, as price action continuous to stay above the it's ascending trendline set at $1.2236 level.
- For next week's trading session, we see $EURUSD resistance levels on the 1hr chart are as follows: $1.2349 & $1.2403 and $1.2458, while support levels are seen at: $1.2264, $1.2222, and deeper below at $1.2167.