Every read JAFX AI made on the EUR/USD daily chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
21:02 UTC
Downtrend, momentum flattening · RSI 51 · price 1.14275
Lower highs off April peak, basing in range.
EUR/USD has trended lower since the early-April peak at 1.1849, carving a chain of lower highs into the June low at 1.1324. Price has since based in a 1.1390–1.1470 range for roughly two weeks, holding below a declining EMA(50) while sitting on the EMA(20); RSI(14) back near 50 reflects the loss of downside momentum. The range is tightening into Thursday's ECB hold, with the pair pinned sub-100DMA per the macro read.
Support: 1.1390, 1.1324
Resistance: 1.1470, 1.1520
What it said to watch
- D1 close above 1.1470 range top opens the path to 1.1520
- Break below 1.1390 range low confirms a lower-low, exposes 1.1210
- ECB decision Thu 23 Jul could break this range read
21:02 UTC
Downtrend from April peak, now consolidating · RSI 47 · price 1.14275
Range-bound sub-EMA50 after June low.
EURUSD has been in a stepped downtrend since the April peak near 1.1849, bottoming at 1.1324 in late June before a corrective bounce. The last two weeks have been a tight consolidation between roughly 1.1405 and 1.1470, holding below a declining EMA(50) with RSI mid-range. Weak eurozone data (industrial production and German PPI misses) keeps the pair pinned as the market waits on Thursday's ECB hold and press conference.
Support: 1.1405, 1.1390, 1.1324
Resistance: 1.1470, 1.1520
What it said to watch
- Daily close below 1.1390 confirms the range break and opens the path toward 1.1210
- Daily close above 1.1470 range cap opens 1.1520
- ECB decision Thu 23 Jul (12:15 UTC) plus Lagarde presser is the dominant catalyst for this read