🔍 Technical Overview
• Key Support Levels:
o 1.1680 – Holding as short-term support
o 1.1630 – 1.1650 – Previous demand zone; may act as a base if breakdown continues
o 1.1570 – 1.1500 – Deeper correction zone in case of strong downside pressure
• Key Resistance Levels:
o 1.1750 – 1.1780 – Short-term resistance zone
o 1.1829 – Major swing high from June
o 1.1855 – 1.1900 – Longer-term bullish breakout target
• Indicators:
o RSI: Neutral, drifting lower from overbought zones
o EMA 50: Price is trading below the 50-day EMA, indicating short-term weakness
o Elliott Wave: Possible completion of wave 5, suggesting corrective phase underway

📰 Fundamental Highlights
• Tariff Tensions: U.S.–EU trade frictions escalate, weighing on EUR
• Dollar Outlook: Despite dovish Fed tone, the USD remains resilient on safe-haven demand and fiscal concerns
• Eurozone Data: Mixed industrial output and weak inflation expectations cap euro’s upside

📅 Key Events to Watch This Week
• Tuesday, July 15: Eurozone Industrial Production
• Thursday, July 17: U.S. CPI (Inflation Data)
• Friday, July 18: U.S. PPI & Consumer Sentiment
• Ongoing developments on tariffs and U.S. fiscal outlook may add volatility.

📌 Weekly Outlook & Strategy
Bullish Scenario
• Hold above 1.1680 → test resistance at 1.1750 – 1.1780
• Breakout above 1.1780 opens room for a move to 1.1829 and 1.1855
Bearish Scenario
• Break below 1.1680 → next support at 1.1630, then 1.1570 – 1.1500
• Strong U.S. CPI/PPI data could accelerate downside momentum