Maintaining momentum: The EUR/USD continues to rally after finding support at 1.30. It is now above 1.31 and pushing toward a previous resistance pivot of 1.3135. Note that the RSI tagged 40 but held above, showing maintenance of the newly established bullish momentum in the 4H chart during April. A break above 1.3135 should open up 1.32 again. If the 4H RSI is pulled above 60, the EUR/USD has bullish continuation momentum. Failure: If the market finds resistance against around 1.3135, and comes back below 1.3070 (The 4/19 US session low), it could be forming a head and shoulders pattern. In that scenario, we can ... (full story)