$EURUSD | 4hr Coiling Pattern

Key Points

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$EURUSD on the 4hr chart is in continuous retracement pattern after breaking below the $1.2381 levels and falling to the $1.2219 area before rebounding to current levels of $1.2279.
Price action weakness is supported by 28EMA still being below the 49EMA on the 4hr chart and $EURUSD may revisit earlier lows to challenge the longer term ascending trend line at $1.2210.
On the flip side, upside momentum for $EURSD on both daily and weekly chart is intact, as supported by the 28EMA being well above the 49EMA.
For next week's trading session, we see $EURUSD resistance levels on the 4hr chart are as follows: $1.2292 & $1.2339 and $1.2383, while support levels are seen at: $1.2243, $1.2210, and deeper below at $1.2167.