EUR/USD saw a move towards 1.13800 price zone in the near term and retested it in the previous trading week.
Economic Calendar Analysis
From a fundamental perspective, no major news or economic data releases are expected to serve as catalysts for increased volatility in EUR/USD this week.
EUR/USD daily chart analysis
The daily charts reveals a bearish trend dictated by a strong descending trendline that has kept price action suppressed since its early 2026 peak. The currency pair recently collapsed through the critical 1.1500 support level and is currently trading below its downward-sloping 20-period SMA, which continues to act as dynamic overhead resistance. While the price is currently pausing to consolidate around 1.14155 following a sharp decline in late June, the overall market structure remains heavily weighted to the downside, keeping the next major historical support targets at 1.1300 and 1.11887 squarely in the crosshairs for sellers.Daily Chart
Weekly review
EUR/USD chart indicates a clear shift into a bearish regime as the price tracks along a steep descending trendline and breaks decisively below both its 26-period Simple Moving Average and the key 1.1500 price level. Having lost the support of the SMA, which is now flattening downward, the current price at 1.14175 is facing heavy overhead pressure. The technical setup strongly suggests a continuation of this downward momentum toward the next major horizontal support floor at 1.11887, unless buyers can orchestrate a sustained break above the descending trendline and reclaim the 1.1500 pivot area on a weekly closing basis.EUR/USD chart
Read More: Technical Analysis
Traders are long