Daily Pivots: (S1) 1.1184; (P) 1.1202 (R1) 1.1235; More….

EUR/USD failed to take out 1.1267 with today’s rebound and weakens again. The pair is staying in tight range below 1.1267 and intraday bias remains neutral first. Overall, we’d stay cautious on strong resistance from 1.1245/98 (138.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245) resistance zone to limit upside and bring reversal. But decisive break of 1.1298 will carry larger bullish implication and target 1.1615 resistance next. On the downside, though, break of 1.1020 resistance turned support will indicate rejection from 1.1245/98 and turn bias to the downside for 1.0838 support first.

In the bigger picture, the case for medium term reversal continues to build up with EUR/USD now far above 55 week EMA. Also, bullish convergence condition is seen in weekly MACD. Focus will now be on 1.1298 key resistance. Rejection from there will maintain medium term bearishness and would extend the whole down trend from 1.6039 (2008 high). However, firm break of 1.1298 will indicate reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

Daily Pivots: (S1) 1.1184; (P) 1.1202 (R1) 1.1235; More….

EUR/USD is staying in consolidation from 1.1267 temporary top. Intraday bias remains neutral first. Overall, we’d stay cautious on strong resistance from 1.1245/98 (138.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245) resistance zone to limit upside and bring reversal. But decisive break of 1.1298 will carry larger bullish implication and target 1.1615 resistance next. On the downside, though, break of 1.1020 resistance turned support will indicate rejection from 1.1245/98 and turn bias to the downside for 1.0838 support first.

In the bigger picture, the case for medium term reversal continues to build up with EUR/USD now far above 55 week EMA. Also, bullish convergence condition is seen in weekly MACD. Focus will now be on 1.1298 key resistance. Rejection from there will maintain medium term bearishness and would extend the whole down trend from 1.6039 (2008 high). However, firm break of 1.1298 will indicate reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

Daily Pivots: (S1) 1.1148; (P) 1.1208 (R1) 1.1241; More….

Intraday bias in EUR/USD remains neutral for consolidation below 1.1267 temporary top. Overall, we’d stay cautious on strong resistance from 1.1245/98 (138.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245) resistance zone to limit upside and bring reversal. But decisive break of 1.1298 will carry larger bullish implication and target 1.1615 resistance next. On the downside, though, break of 1.1020 resistance turned support will indicate rejection from 1.1245/98 and turn bias to the downside for 1.0838 support first.

In the bigger picture, the case for medium term reversal continues to build up with EUR/USD now far above 55 week EMA. Also, bullish convergence condition is seen in weekly MACD. Focus will now be on 1.1298 key resistance. Rejection from there will maintain medium term bearishness and would extend the whole down trend from 1.6039 (2008 high). However, firm break of 1.1298 will indicate reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

Daily Pivots: (S1) 1.1148; (P) 1.1208 (R1) 1.1241; More….

A temporary top is in place at 1.1267 and intraday bias is turned neutral first. Overall, we’d stay cautious on strong resistance from 1.1245/98 (138.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245) resistance zone to limit upside and bring reversal. But decisive break of 1.1298 will carry larger bullish implication and target 1.1615 resistance next. On the downside, though, break of 1.1020 resistance turned support will indicate rejection from 1.1245/98 and turn bias to the downside for 1.0838 support first.

In the bigger picture, the case for medium term reversal continues to build up with EUR/USD now far above 55 week EMA. Also, bullish convergence condition is seen in weekly MACD. Focus will now be on 1.1298 key resistance. Rejection from there will maintain medium term bearishness and would extend the whole down trend from 1.6039 (2008 high). However, firm break of 1.1298 will indicate reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

Daily Pivots: (S1) 1.1178; (P) 1.1220 (R1) 1.1280; More….

Intraday bias in EUR/USD remains on the upside as 1.1161 minor support holds. We stay cautious on strong resistance from 1.1245/98 (138.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245) resistance zone to limit upside and bring reversal. However, decisive break of 1.1298 will carry larger bullish implication and target 1.1615 resistance next. On the downside, below 1.1161 minor support will turn bias neutral first.

In the bigger picture, the case for medium term reversal continues to build up with EUR/USD now far above 55 week EMA. Also, bullish convergence condition is seen in weekly MACD. Focus will now be on 1.1298 key resistance. Rejection from there will maintain medium term bearishness and would extend the whole down trend from 1.6039 (2008 high). However, firm break of 1.1298 will indicate reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

Daily Pivots: (S1) 1.1178; (P) 1.1220 (R1) 1.1280; More….

With 1.1161 minor support intact, intraday bias in EUR/USD remains on the upside for further rally. We stay cautious on strong resistance from 1.1245/98 (138.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245) resistance zone to limit upside and bring reversal. However, decisive break of 1.1298 will carry larger bullish implication and target 1.1615 resistance next. On the downside, below 1.1161 minor support will turn bias neutral first.

In the bigger picture, the case for medium term reversal continues to build up with EUR/USD now far above 55 week EMA. Also, bullish convergence condition is seen in weekly MACD. Focus will now be on 1.1298 key resistance. Rejection from there will maintain medium term bearishness and would extend the whole down trend from 1.6039 (2008 high). However, firm break of 1.1298 will indicate reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

Daily Pivots: (S1) 1.1130; (P) 1.1171 (R1) 1.1246; More….

EUR/USD’s rally extends to as high as 1.1249 so far today. 138.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245 is already met. At this point, we’ll stay cautious on strong resistance from 1.1245/98 resistance zone to limit upside and bring reversal. However, decisive break of 1.1298 will carry larger bullish implication and target 1.1615 resistance next. On the downside, below 1.1161 minor support will turn bias neutral first.

In the bigger picture, the case for medium term reversal continues to build up with EUR/USD now far above 55 week EMA. Also, bullish convergence condition is seen in weekly MACD. Focus will now be on 1.1298 key resistance. Rejection from there will maintain medium term bearishness and would extend the whole down trend from 1.6039 (2008 high). However, firm break of 1.1298 will indicate reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

Daily Pivots: (S1) 1.1130; (P) 1.1171 (R1) 1.1246; More….

Intraday bias in EUR/USD remains on the upside for the moment. Current rise would target 138.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245, which is close to 1.1298 key resistance. We’ll stay cautious on strong resistance from 1.1245/98 to limit upside and bring reversal. Break of 1.1075 minor support will turn bias back to the downside for 1.0838 support. However, sustained break of 1.1298 will carry larger bullish implications.

In the bigger picture, the case for medium term reversal continues to build up with EUR/USD now far above 55 week EMA. Also, bullish convergence condition is seen in weekly MACD. Focus will now be on 1.1298 key resistance. Rejection from there will maintain medium term bearishness and would extend the whole down trend from 1.6039 (2008 high). However, firm break of 1.1298 will indicate reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

EUR/USD’s rally extended to as high as 1.1211 last week after some intra-week consolidation. Initial bias remains on the upside this week for 138.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245, which is close to 1.1298 key resistance. We’ll stay cautious on strong resistance from 1.1245/98 to limit upside and bring reversal. Break of 1.1075 minor support will turn bias back to the downside for 1.0838 support. However, sustained break of 1.1298 will carry larger bullish implications.

In the bigger picture, the case for medium term reversal continues to build up with EUR/USD now far above 55 week EMA. Also, bullish convergence condition is seen in weekly MACD. Focus will now be on 1.1298 key resistance. Rejection from there will maintain medium term bearishness and would extend the whole down trend from 1.6039 (2008 high). However, firm break of 1.1298 will indicate reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

In the long term picture, the case for completion of down trend from 1.6039 (2008 high), and long term bottoming at 1.0339, is starting to build up. Decisive break of 1.1298 will bring rise back to 1.2042 as first resistance. And in that case, we should at least see rally back to 38.2% retracement of 1.6039 to 1.0339 at 1.2516.

Daily Pivots: (S1) 1.1061; (P) 1.1116 (R1) 1.1157; More….

EUR/USD’s rally resumed after brief consolidation and hits as high as 1.1188 so far. Intraday bias is back on the upside. Current rise from 1.0569 is seen as part of the rebound from 1.0339 and would target 138.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245, which is close to 1.1298 key resistance. For now, we’d be cautious on strong resistance between 1.1245/1298 to limit upside and bring reversal. On the downside, below 1.1075 minor support will turn intraday bias neutral first. But break of 1.0838 support is needed to indicate reversal. Otherwise, further rally will remain in favor.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate long term reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

Daily Pivots: (S1) 1.1061; (P) 1.1116 (R1) 1.1157; More….

Intraday bias in EUR/USD remains neutral for consolidation below 1.1170 temporary top. Deeper retreat mildly be seen but downside should be contained by 1.1020 resistance turned support and bring another rise. Above 1.1170 will extend recent rally to 138.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245, which is close to 1.1298 key resistance. For now, we’d be cautious on strong resistance between 1.1245/1298 to limit upside and bring reversal.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate long term reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

Daily Pivots: (S1) 1.1104; (P) 1.1133 (R1) 1.1187; More….

With 4 hour MACD crossed below signal line, a temporary top is formed at 1.1170 in EUR/USD. Intraday bias is turned neutral for consolidation. Downside of retreat should be contained by 1.1020 resistance turned support and bring another rise. Above 1.1170 will extend recent rally to 138.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245, which is close to 1.1298 key resistance. For now, we’d be cautious on strong resistance between 1.1245/1298 to limit upside and bring reversal.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate long term reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

Daily Pivots: (S1) 1.1104; (P) 1.1133 (R1) 1.1187; More….

EUR/USD’s rally extends to as high as 1.1171 so far and intraday bias remains on the upside. Current rally would target 138.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245, which is close to 1.1298 key resistance. For now, we’d be cautious on strong resistance between 1.1245/1298 to limit upside and bring reversal. On the downside, below 1.1081 minor support will turn bias neutral and bring consolidation. But break of 1.0838 support is needed to indicate short term topping. Otherwise, further rise will remain in favor.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate long term reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

Daily Pivots: (S1) 1.1003; (P) 1.1050 (R1) 1.1128; More….

Intraday bias in EUR/USD remains on the upside as current rally continues. The pair would target 138.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245, which is close to 1.1298 key resistance. For now, rise from 1.0339 is still viewed as a corrective move. Hence we’d expect strong resistance below 1.1245/98 to limit upside and bring reversal. On the downside, below 1.1028 minor support will turn bias neutral and bring consolidation. But break of 1.0838 support is needed to indicate short term topping. Otherwise, further rise will remain in favor.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate long term reversal.

Daily Pivots: (S1) 1.1003; (P) 1.1050 (R1) 1.1128; More….

EUR/USD’s rally continues today and reaches as high as 1.1116 so far. Break of upper channel resistance suggests upside acceleration. Intraday bias remains on the downside for 38.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245, which is close to 1.1298 key resistance. For now, rise from 1.0339 is still viewed as a corrective move. Hence we’d expect strong resistance below 1.1245/98 to limit upside and bring reversal. On the downside, below 1.10289 minor support will turn bias neutral and bring consolidation. But break of 1.0838 support is needed to indicate short term topping. Otherwise, further rise will remain in favor.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate long term reversal.

Daily Pivots: (S1) 1.0934; (P) 1.0962 (R1) 1.1001; More….

EUR/USD’s rally accelerates further today and reaches as high as 1.1073 so far. 100% projection of 1.0339 to 1.0828 from 1.0569 at 1.1058 is already met and there is no sign of topping. Intraday bias remains on the upside for 138.2% projection at 1.1245, which is close to 1.1298 key resistance. For now, rise from 1.0339 is still viewed as a corrective move. Hence we’d expect strong resistance below 1.1245/98 to limit upside and bring reversal. On the downside, below 1.0989 minor support will turn bias neutral and bring consolidation. But break of 1.0838 support is needed to indicate short term topping. Otherwise, further rise will remain in favor.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate long term reversal.

Daily Pivots: (S1) 1.0934; (P) 1.0962 (R1) 1.1001; More….

EUR/USD rises to as high as 1.0492 so far as recent rebound resumed after taking out 1.1020 resistance. Intraday bias is back on the upside for 100% projection of 1.0339 to 1.0828 from 1.0569 at 1.1058. Based on current momentum, this projection level would be taken out. In that case, EUR/USD would target 138.2% projection at 1.1245, which is close to 1.1298 key resistance. For now, rise from 1.0339 is still viewed as a corrective move. Hence we’d expect strong resistance below 1.1245/98 to limit upside and bring reversal. Nonetheless, break of 1.0838 support is needed to indicate short term topping. Otherwise, further rise will remain in favor even in case of retreat.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate long term reversal.

Daily Pivots: (S1) 1.0878; (P) 1.0906 (R1) 1.0957; More….

EUR/USD rebounds strongly today but it’s staying below 1.1020 resistance so far. Intraday bias remains neutral first. Break of 1.1020 will resume the corrective rise from 1.0339. In the case, we’d expect upside to be limited by 100% projection of 1.0339 to 1.0828 from 1.0569 at 1.1058 to bring near term reversal. On the downside, break of 1.0838 will argue that the corrective rise from 1.0339 has completed. In such case, intraday bias will be turned back to the downside for 55 day EMA (now at 1.0770).

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate long term reversal.

Daily Pivots: (S1) 1.0878; (P) 1.0906 (R1) 1.0957; More….

Intraday bias in EUR/USD remains neutral for the moment. Overall outlook is unchanged, choppy rise from 1.0339 is seen as a corrective move. In case, of another rally, we’ll look for reversal signal again above 1.1020. Break of 1.0838 will turn bias to the downside for 55 day EMA (now at 1.0770). Break there will argue that the corrective rise from 1.0339 is completed and target 1.0569 support for confirmation.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate long term reversal.

EUR/USD dipped to 1.0838 last week but rebounded strongly since then. Initial bias is neutral this week first. Overall, near term outlook is unchanged. Choppy rise from 1.0339 is seen as a corrective move. Bearish divergence condition in 4 hour MACD suggests short term topping at 1.1020 already. Hence, we’d favoring another fall. Break of 1.0838 will turn bias to the downside for 55 day EMA (now at 1.0770). Break there will argue that the corrective rise from 1.0339 is completed and target 1.0569 support for confirmation. Break of 1.1020 will extend the rise but we’ll look for reversal signal again.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate long term reversal.

In the long term picture, the down trend from 1.6039 (2008 high) is still in progress and there is no clear sign of completion. We’d expect more downside towards 0.8223 (2000 low) as long as 1.1298 resistance holds. However, firm break of 1.1298 should now confirm long term reversal.