A high level consolidation to end the week Friday, holding above modest support at 1.1156 for a Monday upside bias.
Moreover, the Thursday extension above 1.1249 produces a shift to a more bullish tone into May, after the previous break through 1.1053 set a base.
We see an upside bias for 1.1290; break here aims for 1.1335, maybe for 1.1380.
But below 1.1156 opens risk down to 1.1120/14, trend line/ chart support, which we would look to try to hold..
Short/ Intermediate-term Outlook - Upside Risks:
We see a more positive tone with the bullish threat to 1.1380.
Above here targets 1.1449 and 1.1534.
What Changes This? Below 1.0957 eases bull risks; through 1.0786 signals a neutral tone, only shifting negative below 1.0658.
Momentum: The 8-day RSI, short-term momentum is correcting from OB.
View the full EURUSD report: Screencasts, levels plus more - http://ow.ly/MsZhh
See all our FX and all other reports here - http://t.co/W6ZzVGvY5g