Analysis for EURUSD 10 – 14 Jul

Previous Week (27 – 31 July))

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

Last Week (03 – 07 Aug)

O: 1.4286 H: 1.4446 L: 1.4153 C: 1.4169

Weekly

• This pair has traded out of its rectangle and created a rising wedge continuation.
• The week has closed with a bigger rejection than its true body and have reached a higher high than the previous week but it was unsustainable and closed lower than the previous week.

• 1.4300 was finally broken but the next huge resistance at 1.4456 was not.
• Trend is bearish and we may expect to see 1.3795 if it breaks out below 1.3954.

Daily

Hourly

Was consolidating between 1.4446 – 1.4381 before it broke down to 1.4338 and finally the huge movement down to the 1.4160 levels.

Expected for this week:

• We may see some movement up in the early week for a retracement before it starts its bearish trend again.
• Limit buys to 1.4275 if 1.4199 is broken.
• 1.4300 is still possible for this week and if we do then the upside levels will be limited at 1.4314 and 1.4338.
• We should be looking for sell opportunities for this week.

Resistance: 1.4199, 1.4275, 1.4314, 1.4388

Support: 1.4160, 1.4125, 1.4075, 1.3954, 1.3854

Fundamentals:

Wed – NY Session

Thu – NY Session

Fri – NY Session