Euro fluctuated around 1.1790 in early trading on Monday and was able to move up quickly last Friday. This week the market will receive major economic data and major events. The United States will release July industrial output data and retail sales data known as “terror data”, Eurozone GDP and CPI, etc. The Federal Reserve, the European Central Bank and the Reserve Bank of Australia will announce minutes of the monetary policy meeting. In addition, Fed Chairman Powell and other officials will deliver speeches.
A technical review of Euro last week showed that at the beginning of the week, the price continued to fall, followed by rebound from bottom position on Wednesday and a quick increase on Friday. The weekly candle closed bullish with a long lower shadow. The daily candle strengthened quickly. The H4 graph showed that EURUSD broke through a short-term fluctuation zone. MA shows bullish signal, MACD and RSI were neutral. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1760.
Resistance：1.1820-1.1840-1.1860
Support：1.1770-1.1740-1.1700
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