The Euro (EUR) might test the 1.1700 level again and could break through it, but it seems unable to get past 1.1720. Recently, the EUR rose to 1.1668 and nearly hit 1.1698 before dropping back to 1.1609, eventually closing at 1.1665, a slight increase of 0.05%. In the short term, the EUR is likely to revisit the 1.1700 mark, but it seems less probable to challenge the resistance at 1.1720. Key support levels to watch are at 1.1650 and 1.1630. Looking ahead over the next 1 to 3 weeks, the EUR is expected to trend upwards, but it’s uncertain whether it will reach 1.1720. If it breaks above this level, it could rise towards 1.1770, as long as it stays above the strong support at 1.1585. The information here includes forward-looking predictions with risks and uncertainties involved. Make sure to do thorough research before trading. Any investment risks, including potential losses, are the trader’s responsibility. This is not investment advice. Since the Euro is struggling to get past 1.1700, we should be careful with strategies that rely on strong upward movements. The current price actions indicate that buying straightforward call options might be risky because if it doesn’t break the 1.1720 resistance, the option premiums could lose value. Therefore, we are looking at options that can profit from a slow, steady climb. A bull call spread is a suitable strategy for the coming weeks to take advantage of a modest rise. We might buy a call option with a strike price around the current level, like 1.1650, while also selling a call option at the 1.1720 resistance. This way, we define our risk and can profit if the Euro trades within this specific range, matching our outlook of an upward trend that lacks strong breakout potential. This cautious approach is supported by recent economic data from earlier this month. The August 2025 flash estimates for Eurozone CPI showed inflation easing to 2.5%, which reduces pressure on the European Central Bank to raise rates aggressively. Meanwhile, the latest US Non-Farm Payrolls report from August 1, 2025, was a bit lower than expected at 185,000, suggesting that the dollar remains stable but not weakening too much. For traders who feel the downside is protected, selling cash-secured puts below the strong 1.1585 support level is another good option. This strategy earns income from the premium collected and profits from time decay, as long as the Euro stays above this critical level. It’s a straightforward play on the prediction that the pair will keep its upward trend over the next one to three weeks. We should also consider the price action from 2023, when the Euro often had trouble maintaining rallies above 1.1700 for long periods. This past resistance, along with the current absence of a strong catalyst, suggests we need to be patient. The aim is to set up trades that benefit from the pair staying above 1.1585 without needing it to quickly soar towards 1.1770.

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