Monday 16th July: Weekly technical outlook and review

EUR/USD: Weekly Gain/Loss: -0.52% Weekly Closing price: 1.1684 Weekly perspective: As expected, sellers were drawn into the market last week from within the walls of a resistance area coming in at 1.1717-1.1862, consequently breaking a three-week bullish phase and pulling the unit down to just ahead of nearby trend line support (etched from the low 1.0340). 

Monday 16th July: Weekly technical outlook and review

EUR/USD: Weekly Gain/Loss: -0.52% Weekly Closing price: 1.1684 Weekly perspective: As expected, sellers were drawn into the market last week from within the walls of a resistance area coming in at 1.1717-1.1862, consequently breaking a three-week bullish phase and pulling the unit down to just ahead of nearby trend line support (etched from the low 1.0340).