Analysis for EURUSD 03 – 07 Jul

Previous Week (13 – 17 July)

O: 1.4135 H: 1.4291 L: 1.4118 C: 1.4214

Last Week (27 – 31 July)

O: 1.4192 H: 1.4304 L: 1.4007 C: 1.4251

Weekly

• This pair is still trading within a rectangle
• Week closed with a small upclose candle with a rejection twice its true body size.

• As this pair have been trading within the same rectangle for the past 10 weeks, 1.4300 will be an extremely sensitive area as it has tried to break through this area but failed.
• Trend is bullish but trade base on price action with attention to support and resistance to set stop loss and take profit.

Daily

Hourly

Expected for this week:

• Another choppy week is expected especially during the NY session with important fundamentals throughout the week.
• This pair is clearly in an uptrend as it is trading higher and broken all three resistances i.e. 1.4095, 1.4114 and 1.4145.
• However, 1.4300 is still a HUGE resistance but we will expect this level to be broken and see a higher high for the week.
• Trade based on price action only with tight stop losses set at support and resistances.

Resistance: 1.4277, 1.4297, 1.4352, 1.4378, 1.4456

Support: 1.4064, 1.4032, 1.4013, 1.3982