Technical Analysis and Outlook: During the trading session of the current week, the Eurodollar sustained its decline by the Weekly Chart Analysis for the Week of July 19. The prevailing analysis indicates a continued downward trajectory toward a Mean Support of 1.081 and its corresponding Mean Support of 1.078. The anticipated downward movements will result in an initial interim rebound, potentially reaching a Mean Resistance of 1.089.
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Congratulations to all those who took action on Mean Support 1.081. As identified in the above Chart, the Dead-Cat rebound is currently in progress, with the specified target of 1.086 being directed.
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