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19.07.201809:14 Forex Analysis & Reviews: Technical analysis of EUR/USD for July 19, 2018

Long-term review

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EURUSD remains in a bearish trend as long as price holds below 1.1730-1.1760 as we have been saying for the last few sessions. Price bounced yesterday towards 1.1660 and is now challenging the lower triangle boundary support at 1.1610-1.16 area.

Red lines - triangle pattern

Green rectangle - resistance

The EUR/USD pair has resistance at 1.1660. A break above this level will open the way for a bounce towards 1.1680 and most probably 1.1710. Major resistance and trend change level remains at 1.1730-1.1760 area. Bulls need to break this level in order to push higher towards 1.19-1.20. Until then we remain bearish looking for 1.12.

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