EURUSD

EURUSD is likely to find direction throughout the week with US housing data, CB Consumer Confidence, Thursday's Q2 GDP revision, and Friday's core PCE. Weak US data and a soft PCE could loosen the dollar index, supporting upward reactions in the pair; a strong data set could accelerate the testing of support levels at 1.16944 and 1.15431. In the short term, the 1.15431–1.16944 range may act as a sort of "equilibrium area," while upward movement may remain limited unless the regions of 1.18486 and 1.19505 are breached. Below, 1.14907 and 1.13394 are critical for deeper corrections. Since there may be widening spreads and rapid wicks during data moments, confirmation based on closing prices should be preferred for decisions.