15.07.202019:33 Forex Analysis & Reviews: July 15, 2020 : EUR/USD daily technical review and trade recommendations.

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The EURUSD pair has been trending-up since the pair has initiated the depicted uptrend line on May 14.

On June 11, a major resistance level was formed around 1.1400 which prevented further upside movement and forced the pair to have a downside pause towards the uptrend line.

This week, the uptrend seems to show signs of weakness while approaching the mentioned resistance level (1.1400).

A couple of positive Fundamental data from the U.S. are supporting the downside direction in the short-term.

We should be expecting a probable breakdown for the depicted uptrend line to occur to the downside in the near future.

Short-term traders can have a valid SELL order/position anywhere around the mentioned resistance level of 1.1400.

Another SELL order can be placed after a breakdown below the uptrend line occurs. Estimated target levels are located around 1.1300, 1.1225 and 1.1170.

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