EUR/USD edged higher to 1.0905 last week but was rejected by 55 week EMA and reversed. The development argues that corrective rise from 1.0339 is completed and larger down trend is ready resume. Firm break of 1.0494 support will affirm this bearish case.

Initial bias in EUR/USD remains on the downside this week for 1.0494 support. Break should confirm completion of the corrective rise from 1.0339. And, larger down trend is likely resuming in this case. Break of 1.0339 will confirm down trend resumption and target parity next. On the upside, above 1.0739 minor resistance will delay the bearish case and turn focus back to 1.0905 resistance instead.

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 term reversal. this would also be supported by sustained trading above 55 week EMA.

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.

Daily Pivots: (S1) 1.0727; (P) 1.0777 (R1) 1.0814; More…..

EUR/USD engages in sideway trading in early US session. But intraday bias remains on the downside for far. Current fall from 1.0905 should target 1.0494 support next. As noted before, corrective rise from 1.0339 could be completed at 1.0905. Break of 1.0494 should confirm this case and target 1.0339 low. On the upside, above 1.0798 minor resistance will turn bias back to the upside for 1.0905 instead.

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 term reversal. this would also be supported by sustained trading above 55 week EMA.

Daily Pivots: (S1) 1.0727; (P) 1.0777 (R1) 1.0814; More…..

Intraday bias in EUR/USD remains on the downside as fall from 1.0905 continues. Corrective rise from 1.0339 could be completed at 1.0905. Sustained trading below 55 day EMA (now at 1.0682) will affirm this view and target 1.0494 resistance for confirmation. On the upside, above 1.0798 minor resistance will turn bias back to the bias up to the upside for 1.0905 instead.

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 term reversal. this would also be supported by sustained trading above 55 week EMA.

Daily Pivots: (S1) 1.0727; (P) 1.0777 (R1) 1.0814; More…..

EUR/USD’s fall continues today and reaches as low as 1.0721 so far. Current development argues that corrective rise from 1.0339 could be completed at 1.0905. Intraday bias remains on the downside for 55 day EMA (now at 1.0682) first. Sustained break there will affirm this view and target 1.0494 resistance for confirmation. On the upside, above 1.0798 minor resistance will turn bias back to the bias up to the upside for 1.0905 instead.

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 term reversal. this would also be supported by sustained trading above 55 week EMA.

Daily Pivots: (S1) 1.0727; (P) 1.0777 (R1) 1.0814; More…..

Intraday bias in EUR/USD remains on the downside for the moment. As noted before, rise from 1.0494 should have completed at 1.0905 on bearish divergence condition in 4 hour MACD. The whole corrective rise from 1.0339 is possibly finished too. Deeper fall should be seen back to 55 day EMA (now at 1.0682) first. Sustained break there will affirm this view and target 1.0494 resistance for confirmation. On the upside, above 1.0826 minor resistance will indicate that the corrective rise from 1.0339 is still in progress. Intraday bias would then be flipped back to the upside for 1.0905 and above.

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 term reversal. this would also be supported by sustained trading above 55 week EMA.

Daily Pivots: (S1) 1.0784; (P) 1.0828 (R1) 1.0858; More…..

EUR/USD’s sharp fall and break of 1.0760 support today argues that rise from 1.0494 has completed at 1.0905 already. Meanwhile, the rise from 1.0339, a corrective move, is possibly finished too. Intraday bias is back on the downside for 55 day EMA (now at 1.0677) first. Sustained break there will affirm this view and target 1.0494 resistance for confirmation. On the upside, above 1.0826 minor resistance will indicate that the corrective rise from 1.0339 is still in progress. Intraday bias would then be flipped back to the upside for 1.0905 and above.

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 term reversal. this would also be supported by sustained trading above 55 week EMA.

Daily Pivots: (S1) 1.0784; (P) 1.0828 (R1) 1.0858; More…..

Intraday bias in EUR/USD remains neutral for the moment as consolidation from 1.0905 temporary top continues. Another rise is expected with 1.0760 minor support intact. Above 1.0905 will turn bias to the upside for 100% projection of 1.0339 to 1.0828 from 1.0494 at 1.0983. At this point, we’re still treating rise from 1.0339 as a correction. Hence, we’d expect strong resistance from 1.0983 to limit upside and bring near term reversal. On the downside, break of 1.0760 support will turn bias back to the downside for 1.0494 support. However, firm break of 1.0983 will dampen our view and put focus on 1.1298 key resistance.

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 term reversal. this would also be supported by sustained trading above 55 week EMA.

Daily Pivots: (S1) 1.0822; (P) 1.0864 (R1) 1.0904; More…..

A temporary top is in place at 1.0905 and intraday bias in EUR/USD is turned neutral for some consolidations. Further rise is expected as long as 1.0760 minor support holds. Above 1.0905 will turn bias to the upside for 100% projection of 1.0339 to 1.0828 from 1.0494 at 1.0983. At this point, we’re still treating rise from 1.0339 as a correction. Hence, we’d expect strong resistance from 1.0983 to limit upside and bring near term reversal. On the downside, break of 1.0760 support will turn bias back to the downside for 1.0494 support. However, firm break of 1.0983 will dampen our view and put focus on 1.1298 key resistance.

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 term reversal. this would also be supported by sustained trading above 55 week EMA.

Daily Pivots: (S1) 1.0822; (P) 1.0864 (R1) 1.0904; More…..

Intraday bias in EUR/USD remains on the upside. Current rise from 1.0494 should target 100% projection of 1.0339 to 1.0828 from 1.0494 at 1.0983. At this point, we’re still treating rise from 1.0339 as a correction. Hence, we’d expect strong resistance from 1.0983 to limit upside and bring near term reversal. On the downside, break of 1.0760 support will turn bias back to the downside for 1.0494 support. However, firm break of 1.0983 will dampen our view and put focus on 1.1298 key resistance.

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 term reversal. this would also be supported by sustained trading above 55 week EMA.

Daily Pivots: (S1) 1.0764; (P) 1.0791 (R1) 1.0823; More…..

EUR/USD’s rally accelerates to as high as 1.0895 so far and intraday bias remains on the upside. Current rise is expected to target 100% projection of 1.0339 to 1.0828 from 1.0494 at 1.0983. At this point, we’re still treating rise from 1.0339 as a correction. Hence, we’d expect strong resistance from 1.0983 to limit upside and bring near term reversal. On the downside, break of 1.0760 support will turn bias back to the downside for 1.0494 support. However, firm break of 1.0983 will dampen our view and put focus on 1.1298 key resistance.

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 term reversal. this would also be supported by sustained trading above 55 week EMA.

Daily Pivots: (S1) 1.0764; (P) 1.0791 (R1) 1.0823; More…..

EUR/USD’s rise from 1.0339 resumed by taking out 1.0828 resistance and reaches as high as 1.0849 so far. Intraday bias is back on the upside. Next target will be 100% projection of 1.0339 to 1.0828 from 1.0494 at 1.0983. However, as rise from 1.0339 is seen as a corrective move. We’d expect upside to be limited by 1.0983 to complete the correction. On the downside, break of 1.0760 minor support will turn bias to the downside for 1.0494 support first.

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 term reversal. this would also be supported by sustained trading above 55 week EMA.

EUR/USD rose to as high as 1.0824 last week. But it lost momentum ahead of 1.0828 resistance and turned sideway. Some consolidations could be seen but outlook is unchanged. Rise from 1.0339 is seen as a corrective move and is still expected to extend higher.

Initial bias in EUR/USD remains neutral this week first. Break of 1.0828 will target 100% projection of 1.0339 to 1.0828 from 1.0494 at 1.0983. However, as rise from 1.0339 is seen as a corrective move. We’d expect upside to be limited by 1.0983 to complete the correction. On the downside, break of 1.0718 minor support will turn bias to the downside for 1.0494 support first.

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 term reversal. this would also be supported by sustained trading above 55 week EMA.

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.

Daily Pivots: (S1) 1.0766; (P) 1.0785 (R1) 1.0804; More…..

Intraday bias in EUR/USD remains neutral as consolidation from 1.0824 temporary top continues. Further rise remains in favor as long as 1.0718 minor support holds. Break of 1.0828 resistance will extend the rise from 1.0339 to 100% projection of 1.0339 to 1.0828 from 1.0494 at 1.0983. However, as rise from 1.0339 is seen as a corrective move. We’d expect upside to be limited by 1.0983 to complete the correction. On the downside, break of 1.0718 minor support will turn bias to the downside for 1.0494 support first.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to resume later. 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.

Daily Pivots: (S1) 1.0766; (P) 1.0785 (R1) 1.0804; More…..

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to resume later. 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.

Daily Pivots: (S1) 1.0774; (P) 1.0799 (R1) 1.0823; More…..

With 1.0178 minor support intact, further rise is still expected in EUR/USD. Break of 1.0828 resistance will target 100% projection of 1.0339 to 1.0828 from 1.0494 at 1.0983. However, as rise from 1.0339 is seen as a corrective move. We’d expect upside to be limited by 1.0983 to complete the correction. On the downside, break of 1.0718 minor support will turn bias to the downside for 1.0494 support first.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to resume later. 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.

Daily Pivots: (S1) 1.0774; (P) 1.0799 (R1) 1.0823; More…..

EUR/USD lost some upside momentum again with 4 hour MACD crossed below signal line. But further rally is still expected with 1.0718 minor support intact. Break of 1.0828 resistance will target 100% projection of 1.0339 to 1.0828 from 1.0494 at 1.0983. However, as rise from 1.0339 is seen as a corrective move. We’d expect upside to be limited by 1.0983 to complete the correction. On the downside, break of 1.0718 minor support will turn bias to the downside for 1.0494 support first.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to resume later. 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.

Daily Pivots: (S1) 1.0716; (P) 1.0747 (R1) 1.0769; More…..

With 1.0718 minor support intact, intraday bias in EUR/USD remains on the upside for 1.0828 resistance. Break there will target 100% projection of 1.0339 to 1.0828 from 1.0494 at 1.0983. However, as rise from 1.0339 is seen as a corrective move. We’d expect upside to be limited by 1.0983 to complete the correction. On the downside, break of 1.0718 minor support will turn bias to the downside for 1.0494 support first.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to resume later. 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.

Daily Pivots: (S1) 1.0716; (P) 1.0747 (R1) 1.0769; More…..

Intraday bias in EUR/USD remains on the upside as rise from 1.0494 continues. Break of 1.0828 will target 100% projection of 1.0339 to 1.0828 from 1.0494 at 1.0983. However, as rise from 1.0339 is seen as a corrective move. We’d expect upside to be limited by 1.0983 to complete the correction. On the downside, break of 1.0718 minor support will turn bias to the downside for 1.0494 support first.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to resume later. 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.

Daily Pivots: (S1) 1.0716; (P) 1.0747 (R1) 1.0769; More…..

EUR/USD’s rally re-accelerates and reaches as high as 1.0811 so far. Intraday bias stays on the upside for 1.0828 resistance and above. Nonetheless, we maintain that rise from 1.0339 is a corrective move. Hence, we’d expect upside to be limited by 100% projection of 1.0339 to 1.0828 from 1.0494 at 1.0983 to completion the correction. On the downside, break of 1.0705 minor support will turn bias to the downside for 1.0494 support first.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to resume later. 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.

Daily Pivots: (S1) 1.0716; (P) 1.0747 (R1) 1.0769; More…..

EUR/USD lost some upside momentum with 4 hour MACD crossed below signal line. But with 1.0639 minor support intact, further rise is expected. Corrective rise from 1.0339 is still in progress and break of 1.0828 will target 100% projection of 1.0339 to 1.0828 from 1.0494 at 1.0983. Since such rise is viewed as a corrective move, we’d expect upside to be limited by 1.0983 to bring larger down trend resumption eventually. On the downside, break of 1.0639 minor support will turn bias back to the downside for 1.0494 support.

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.