Analysis and Forecast EUR / USD - Weekly review (25.07-29.07).

Last week brought weakening of the euro against the dollar, which was consistent with my assumptions, which I presented in the last daily reports. On Friday also they came to break the bottom of the nearly three-week trend side. Overcoming support at 1,0972-81 may suggest a further weakening of the euro against the dollar, towards the level of 1.0909 (at least after the announcement of a referendum). At this level (1.0909), I expect to activate the demand side, which will certainly defend that level. Any break 1.0909 support will indicate the weakness of the euro, which further confirms the downward trend. In this case, the aim in the longer term may be last year's lows.