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14.07.2022 09:24 PM
Short-term technical analysis on EURUSD for July 14th, 2022.

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Red line -bullish divergence

Green lines- short-term bearish channel

Blue lines- medium-term bearish channel

Black lines- Fibonacci retracement

EURUSD made a new low after the recent rejection at the upper boundary of the short-term bearish channel. Price continues making lower lows and the RSI continues making higher lows. The bullish RSI divergence continues but so far price has not produced a bullish reversal signal. EURUSD has resistance at 1.0065 and next at 1.0122. If bulls manage to break above these levels, we will get the first short-term reversal signal. Our 1st target would then be at 1.0210 and next at 1.0360. Until then, bears remain in control of the trend.

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