EUR/USD AI Live Scan, weekly chart, Friday, 7 August 2026
Every read JAFX AI made on the EUR/USD weekly chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
19:02 UTC
Uptrend, correcting since Q1 · RSI 51 · price 1.15381
Multi-quarter rally in pullback, ranging 2026.
Macro uptrend off the Feb 2025 low at 1.0282 peaked at the 1.2083 cycle high in Jan 2026; since then price has corrected and gone range-bound, boxed roughly between the 1.1324 2026 low and the 1.1830 range top. Price sits mid-range at 1.1538, hovering just under a still-rising W1 EMA(50) — the regime is a mature uptrend in pullback rather than reversal. The recovery off 1.1350 leans on broad USD softness after the shock -23K July payrolls print unwound Fed-hike pricing.
Support: 1.1500, 1.1350, 1.1324
Resistance: 1.1830, 1.2083
What it said to watch
W1 close below 1.1324 confirms a lower low and breaks the 2026 base
Reclaim of 1.1830 reopens the path toward the 1.2083 cycle high
US CPI Aug 12 is the decisive catalyst for USD repricing and could shift this read
EUR rallied from the 1.0282 low in Q1 2025 to a 1.2083 peak in January 2026, a clean multi-quarter uptrend that has since stalled into a broad correction between roughly 1.1350 and 1.1850. Price sits in the lower half of that range near EMA20 and below the rising W1 EMA50, with RSI mid-range and offering no extreme. The soft-USD repricing after the July payrolls collapse has lifted EUR off the 1.1350 swing low but the move remains a correction within the larger regime.
Support: 1.1353, 1.1300, 1.1182
Resistance: 1.1850, 1.2083
What it said to watch
Weekly close above 1.1850 prior high reopens the path toward the 1.2083 2026 high
Failure to hold the 1.1353 swing low confirms a lower low, exposing 1.1300 psych and the 50% fib at 1.1182
US CPI Aug 12 is the decisive catalyst and could reset this range read