EURUSD: Bullish, Builds On Long Term Uptrend.
As long as 1.1650 support holds on a weekly closing basis. The EURUSD remains on the upside in the medium-term forecast. Resistance comes at the 1.1730 level ahead of 1.1965 level. A halt is likely, but above 1.1965 aims the 1.2160 level, further upside, resistance comes in the 1.2300 level.
On the downside, support comes at the 1.1650 level. Below 1.1650 sees corrective pullback threats to 1.1450 level where another rising is possible.
In conclusion: The EURUSD sees upside threats above 1.1650 levels in the medium-term outlook…
Support: 1.1650, 1.1450, 1.1285, 1.1145
Resistance: 1.1730, 1.1965, 1.2160, 1.2300
Key/data events which may affect EURUSD this week:
- ISM Manufacturing PMI (Jul) on Monday at 14:00 GMT.
- ISM Non-Manufacturing PMI (Jul) on Wednesday at 14:00 GMT.
- Initial Jobless Claims on Thursday at 12:30 GMT.
- Nonfarm Payrolls (Jul) on Friday at 12:30 GMT.
- Unemployment Rate (Jul) on Friday at 12:30 GMT.