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 easing, basing near 1.14 · RSI 49 · price 1.14369
Lower highs since April, sideways base at 1.13-1.14.
Downtrend from the mid-April peak at 1.18488, price trading below a declining EMA(50) and carving a multi-week base in the 1.13-1.14 zone since June. The June low at 1.13242 held and price has recovered into the mid-1.14s, but topside is capped near 1.1470 as a firmer USD and cooling ECB hike bets contain the rebound. Structure remains a series of lower highs with the range floor around 1.1370.
Support: 1.1370, 1.13242, 1.1210
Resistance: 1.1470
What it said to watch
- D1 close above 1.1470 range cap challenges the lower-highs sequence
- Break of 1.1390-1.1410 exposes 1.1370, then 1.1210
- FOMC minutes Wed 18:00 UTC could reprice USD and shift this read
21:01 UTC
Downtrend, momentum flattening · RSI 48 · price 1.14369
Lower highs since April, basing near 1.13-1.14.
Multi-month downtrend from the April 1.1849 peak, price trading below EMA(50) since May as the pair carved successive lower highs. The bounce off the June low near 1.1324 has stalled under 1.1470, leaving price boxed in a 1.1370-1.1470 range over the last several sessions. A firmer USD and cooling ECB hike bets are capping topside per context.
Support: 1.1370, 1.1324, 1.1210
Resistance: 1.1470, 1.1500
What it said to watch
- D1 close above 1.1470 range cap opens the path to 1.1500
- Failure to hold 1.1370 exposes 1.1324 june low, then 1.1210
- FOMC minutes Wed could materially shift this read