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Weekly Forex Market Price Action Forecast for July 28-Aug. 1

NEW YORK (TheStreet) -- EURUSD -- Eurodollar continues to lose ground

As we can see in the weekly chart below, the EURUSD lost ground again last week, for the second week in a row. This market is bearish for the near term, and so we want to look for sell signals this week in line with that bearish momentum.

However, we also need to keep an eye on the upcoming key support levels marked on the chart below, as these levels could lead to significant bounces higher in the coming days if we get some bullish price action near them.

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EURUSD-july-28-2014

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