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
Multi-month downtrend, sharp corrective bounce · RSI 63 · price 1.15393
Double-bottom base off July lows, reclaiming range.
Price fell in a multi-month downtrend from the April peak near 1.1849 to a base around 1.1324–1.1353, with the June and late-July lows forming a rough double bottom. A sharp three-session bounce — driven by the ~1.5% post-Fed USD selloff and firmer euro-area inflation — has reclaimed the 1.1450 breakout zone and pushed price back above EMA20 and EMA50. D1 RSI has recovered off its lows toward the mid-60s but is not yet overbought.
Support: 1.1450, 1.1353, 1.1324
Resistance: 1.1600, 1.1650
What it said to watch
- Daily close above 1.1600 opens the path toward the 1.1650 swing high
- Failure to hold the 1.1450 breakout reopens the 1.1353 swing low
- ISM Manufacturing (Aug 3) and ADP (Aug 5) are USD-side risks that could reshape this bounce
21:01 UTC
Downtrend, sharp reversal underway · RSI 66 · price 1.15393
Double bottom base, breaking upper range.
The dominant read since the mid-April 1.1849 peak is a downtrend, price grinding to a 1.1324/1.1353 double base through June and July. The last three sessions delivered a sharp reversal off that base on the ~1.5% post-Fed USD selloff, reclaiming the 1.1537 six-week high and pushing to 1.1539. Price has now recovered above EMA20 and EMA50, but the move sits into descending resistance from the April swing.
Support: 1.1500, 1.1353
Resistance: 1.1600
What it said to watch
- Daily close back below 1.1500 negates the breakout and re-engages the range
- Sustained close above 1.1537 opens the path toward 1.1600
- ISM Manufacturing (Aug 3, 14:00 UTC) could materially shift this USD-driven read