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 from April high, now basing · RSI 44 · price 1.1397
Range within a larger LH/LL sequence.
EUR/USD rolled over from the mid-April high near 1.1849 into a June low at 1.1324, and has spent the last six weeks basing in a choppy 1.1370-1.1463 range. Price sits back below EMA(50), which is flattening lower, and is drifting toward the 1.1370 three-week low as the hawkish-ECB vs weak-growth standoff keeps the pair boxed in. This week's FOMC is the dominant catalyst that would break the deadlock either way.
Support: 1.1370, 1.1324
Resistance: 1.1463
What it said to watch
- FOMC this week is the dominant driver — a soft-Fed tone would pressure the range top
- Daily close below 1.1370 confirms a lower low and opens the June 1.1324 low
- Reclaim of 1.1463 needed to challenge the upper edge of the range and the descending highs
21:01 UTC
Downtrend, momentum slowing · RSI 42 · price 1.1397
Lower highs, lower lows; basing near range lows.
Multi-month downtrend from the mid-April ~1.1849 peak, with price trading below a falling EMA(50) since early June. The last three weeks have compressed into a tight range between the 1.1369 low and the 1.1418 cap, matching the choppy 1.14 regime driven by a hawkish-hold ECB versus a resilient USD. FOMC this week is the pivot that would break the deadlock.
Support: 1.1369, 1.1324
Resistance: 1.1418, 1.1462
What it said to watch
- FOMC decision Wed is the dominant driver for this pair
- Daily close above 1.1418 invalidates the range-low read and opens 1.1462
- Failure to hold 1.1369 confirms a lower low toward 1.1324
- Eurozone flash HICP/GDP Thu could firm or crack the range