EURUSD: Bullish, Eyes Further Upside…
The EURUSD remains on the upside (medium-term outlook) as long as 1.1465 support holds on a weekly closing basis. Resistance comes at 1.1665 levels. A halt is likely, it may test 1.1465 before attempts to break above 1.1665 levels. Anyway; above 1.1665 aims the 1.1800 levels, further upside, resistance 1.2000 levels ahead of 1.2180 levels.
On the downside, immediate support comes in the 1.1465 levels, stability above this level will keep the bullish momentum intact. However; below 1.1465 should weaken the bullish trend and bring consolidation above 1.1147/1.1290 levels. Below 1.1147 may terminate the bullish trend and bring reversal to the downside.
In conclusion: The EURUSD sees upside threats above 1.1465 levels in the medium-term forecast.
Support: 1.1465, 1.1290, 1.1147, 1.1000
As long as the pair trades above 1.1465 (weekly closing basis). Any corrective pullback above 1.1465 is a buying opportunity.
Today, (Monday), According to the daily-chart: The pair is very bullish as long as trades above 1.1605 on a daily closing basis. Resistance comes at 1.1670 level. A break would open 1.1735 next, further upside, resistance comes 1.1783 levels. On the downside, below 1.1605 should weaken the bullish trend and bring consolidation around 1.1605 before the next move.
Support: 1.1605, 1.1540, 1.1460, 1.1400, 1.1340
Key data/events which may affect EURUSD this week:
- German Ifo Business Climate Index (Jul) on Monday at 08:00 GMT.
- U.S Core Durable Goods Orders (MoM) (Jun) on Monday at 12:30 GMT.
- CB Consumer Confidence (Jul) on Tuesday at 14:00 GMT.
- Fed Interest Rate Decision on Wednesday at 18:00 GMT.
- FOMC Press Conference on Wednesday at 18:30 GMT.
- German Unemployment Change (Jul) on Thursday at 07:55 GMT.
- German GDP (QoQ) (Q2) on Thursday at 08:00 GMT.
- U.S GDP (QoQ) (Q2) on Thursday at 12:30 GMT.
- U.S Initial Jobless Claims on Thursday at 12:30 GMT.
- Euro-Zone Consumer Price Inflation on Monday at 09:00 GMT.
You may follow events in real-time at the following link below: