EUR/USD Weekly Analysis (July 31-August 4)

EUR/USD is approaching some very critical levels where you can see 4 Hour resistance at 1.1755 and also a daily resistance at 1.1759. If EUR/USD manages to break through these levels then it won't have to go to far before it approaches major supply zone starting at 1.1786. For right now I wouldn't put in a short on this pair until we get through a couple of sessions next week with a clear direction in addition many high impact data point are coming out for the EUR next week that should really be worth paying attention to.

My suggestion for the short term is to stay away from this pair for right now.

Good Luck!!!