FX.co ★ Mou78Ibrahim | EUR/USD

EUR/USD analysis for 29 July 2025 Market Overview On July 29, 2025, EUR/USD is trading under pressure after a recent downturn driven by renewed U.S. dollar strength. The pair recently dipped below the 1.1600 level, marking a two-week low, before staging a minor recovery to retest resistance near 1.1680. The rebound followed a break of a short-term bearish trend line, suggesting temporary relief, but upside momentum remains limited. Technical Analysis Resistance Levels: 1.1680–1.1700: A near-term barrier where price action recently stalled. This area also aligns with the 50% Fibonacci retracement of the prior decline. 1.1755–1.1780: A stronger resistance zone, previously marking swing highs. 1.1829: A major resistance level. A breakout above this would indicate a potential return to bullish momentum, targeting 1.1916. Support Levels: 1.1660: Immediate support formed by a recently broken trendline and a minor consolidation zone. 1.1620: Intermediate support, tested during recent sell-offs. 1.1555: A key technical level and the low of a previous correction wave. 1.1500–1.1450: Deeper downside targets if bearish pressure intensifies. Scenario Outlook Bearish Setup: A rejection from 1.1700 followed by a drop below 1.1660 could trigger a slide toward 1.1555 or even 1.1450. Bullish Reversal: A confirmed breakout and close above 1.1788 would signal renewed upside strength, potentially opening the door to a move toward 1.1916. Market Sentiment Sentiment remains cautious to bearish in the short term, with the U.S. dollar maintaining strength amid broader risk-off sentiment and favorable economic data. For EUR/USD to shift bullish, a decisive break above key resistance levels is required, along with a weakening of the dollar. Summary Table Bearish Setup Near 1.1700 Above 1.1735 1.1555 → 1.1450 Support Break Trigger Below 1.1660 Dynamic 1.1620 → 1.1500 Bullish Reversal Signal Above 1.1788 Below 1.1750 1.1829 → 1.1916