EURUSD Daily Forecast Jul 24 2020

EURO dollar 98656b

EURUSD: Bullish, Looks To Extend Further Upside…

The outlook in EURUSD remains on the upside as long as 1.1540  support holds on a daily closing basis. Resistance comes at the 1.1605 level. A halt is likely, it may consolidate around here before the next move. However; above 1.1605 aims the 1.1670 levels, further upside, resistance comes in the 1.1735 level.

On the downside, immediate support comes at the 1.1540 levels. Below 1.1540 sees pullback threats to 1.1460/1.1402 levels before the next rising. A cut-through 1.1402 should weaken the bullish trend and pave the way to 1.1340/1.1269 levels…

In conclusion: The EURUSD sees upside threats above 1.1540 levels…

Support: 1.1540, 1.1460, 1.1400, 1.1340, 1.1269

Resistance: 1.1605, 1.1670, 1.1735, 1.1785, 1.1850

EURUSD Daily Forecast Jul 24 2020

Key data/events which may affect EURUSD today:
  • German Manufacturing PMI at 07:30 GMT. The forecast is to rise 48.0, from 45.2 a month earlier. The pair sees a buying opportunity around support, whether the news is green or red…
  • U.S New Home Sales (Jun) at 14:00 GMT.