Overall view of EURUSD - Update of July 22nd week

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A big week ahead with a series of news and stock earnings: The FOREX pair is close to a high demand level @1.12000 and has been consolidating since the beginning of the month. As the daily traded volume remains steady, volatility and a breakout move could be seen ahead especially with the Fed signalling a quarter-rate cut.

Possible target: 1.11400 (- 70pips) close to the low of the year.

Advice: Stay bearish and sell any high points while we don't break upside @1.12800

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