EURUSD Daily Forecast Jul 17 2020

EURO- dollar -6598745454

EURUSD: Faces Corrective Pullback Threats…

As long as 1.1402 resistance holds on a daily closing basis, the EURUSD remains in a pullback mode and further downside couldn’t be ruled out. Immediate support comes in the 1.1369 levels. Below 1.1369 aims the 1.1340 levels. It will consolidate within 1.1340/1.1369 before the next move. Anyway; a cut-through 1.1340 level aims the 1.1269 level, further down, support comes in the 1.1178 level…

On the upside, resistance comes at the 1.1402 level, a break will restore the upside momentum and target the 1.1460 level, further upside, resistance stands at the 1.1540 level…

In conclusion: The EURUSD faces pullback threats below 1.1402 levels…

Support: 1.1369, 1.1340, 1.1269, 1.1178, 1.1112

Resistance: 1.1402, 1.1460, 1.1540, 1.1593, 1.1640

1- A failure to hold above 1.1402 could mean a fall to 1.1369/1.1340 levels. Below 1.1340 sees further weakness…

2- A failure to break and hold below 1.13469/1.1340 could mean a return to 1.1402 levels, above 1.1402 (daily closing basis) restores the bullish momentum…

EURUSD Daily Forecast Jul 17 2020

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