EURUSD Jul 20 to Jul 24 Outlook

Recap
As explained last week, do not confuse volatility as strength. Y-0 breached quickly led to Y-1 test in play. Y-0 turned into resistance since. Y-1 could not even stop euro for several hours. Closed the week below Y-1 and near week low.

Outlook
The long term important support at 1.10 is now officially breached. Until it acts as support again, the down trend will be in full force.