Analysis for EURUSD 27 – 31 Jul

Previous Week (13 – 17 July)

O: 1.3972 H: 1.4165 L: 1.3897 C: 1.4106

Last Week (13 – 17 July)

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

Weekly

• This pair is still trading within a rectangle
• Week closed with a small upclose candle.

• As this pair have been trading within the same rectangle for the past 9 weeks, 1.4352 will be a rather sensitive area.
• if it fails to break through that area, it will create a triple top.
• Overall bullish but watch out for 1.4352 for Price Action.

Daily

Hourly

• On the hourly we have a bearish set up with a possible bear flag and closing wedge.

Expected for this week:

• This pair is in an uptrend however, a reversal is possible as

a) we may see a correction in the equities indexes

b) the euro rose last week on improved confidence

• We may probably see a low of the week at around 1.4123.
• Highs may probably be limited at 1.4290 but if it manages to breakthrough, look for 1.4352 and watch for a triple top.
• Trade based on price action as it is clearly still in a range and will expect the early week to be rather choppy.

Resistance: 1.42900, 1.4334, 1.4352, 1.4363, 1.4435

Support: 1.4089, 1.4123, 1.4162, 1.4186, 1.4206, 1.4225, 1.4250

Fundamentals for EURUSD 27 – 31 Jul

Mon – NY session

Tue – NY session

Wed – NY session

Thu – NY session

Fri – NY session