EUR/USD surged to as high as 1.2177 last week as rise from 1.0635 resumed through 1.2011 resistance. As a temporary top was formed, initial bias is neutral this week for some consolidations first. Downside of retreat should be contained by 1.2003 support to bring another rise. On the upside, break of 1.2177 will target 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452 next.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1602 support holds.

In the long term picture, the case of long term bullish reversal continues to build up, with bullish convergence condition in monthly MACD, sustained trading above 55 month EMA and long trend falling trend line. Focus is now on 1.2555 cluster resistance (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). Decisive break there will confirm and target 61.8% retracement at 1.3862 and above.

Daily Pivots: (S1) 1.2107; (P) 1.2141; (R1) 1.2181; More…..

Intraday bias in EUR/USD remains on the upside for the moment. Current rally should target 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452 next. On the downside, break of 1.2087 minor support will turn intraday bias neutral and bring consolidation first, before staging another rise.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1602 support holds.

Daily Pivots: (S1) 1.2107; (P) 1.2141; (R1) 1.2181; More…..

Intraday bias in EUR/USD remains on the upside at this point. Current rally should target 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452 next. On the downside, break of 1.2087 minor support will turn intraday bias neutral and bring consolidation first, before staging another rise.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1602 support holds.

Daily Pivots: (S1) 1.2065; (P) 1.2092; (R1) 1.2143; More…..

EUR/USD surges to as high as 1.2165 so far and intraday bias stays on the upside so far. Current rise should target 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452 next. On the downside, break of 1.2087 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1602 support holds.

Daily Pivots: (S1) 1.2065; (P) 1.2092; (R1) 1.2143; More…..

EUR/USD’s rally is still in progress and intraday bias stays on the upside for 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452 next. On the downside, break of 1.2040 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1602 support holds.

Daily Pivots: (S1) 1.1972; (P) 1.2024; (R1) 1.2122; More…..

Intraday bias in EUR/USD remains on the upside. Current rise from 1.0635 should target 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452 next. On the downside, break of 1.1923 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1602 support holds.

Daily Pivots: (S1) 1.1972; (P) 1.2024; (R1) 1.2122; More…..

EUR/USD surges to as high as 1.2083 so far today. The break of 1.2011 high confirms resumption of whole rally from 1.0635 low. Intraday bias is back on the upside for 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452 next. On the downside, break of 1.1923 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1602 support holds.

Daily Pivots: (S1) 1.1898; (P) 1.1951; (R1) 1.1977; More…..

EUR/USD retreats ahead of 1.2011 high and intraday bias is turned neutral first. On the upside, decisive break of 1.2011 will resume whole rally from 1.0635 low. Next target is 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452. On the downside, break of 1.1800 support will turn bias to the downside, to extend the consolidation pattern from 1.2011 with another falling leg.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1422 resistance turned support holds.

Daily Pivots: (S1) 1.1924; (P) 1.1944; (R1) 1.1979; More…..

Intraday bias in EUR/USD stays on the upside for 1.2011 high first. Decisive break there will resume whole rally from 1.0635 low. Next target is 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452. On the downside, below 1.1914 minor support will turn intraday bias neutral first. Further break of 1.1800 support will turn bias to the downside, to extend the consolidation pattern from 1.2011 with another falling leg.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1422 resistance turned support holds.

Daily Pivots: (S1) 1.1924; (P) 1.1944; (R1) 1.1979; More…..

Intraday bias in EUR/USD remain son the upside for retesting 1.2011 high. Decisive break of 1.2011 high will resume whole rally from 1.0635 low. Next target is 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452. On the downside, however, break of 1.1800 support will turn bias to the downside, to extend the consolidation pattern from 1.2011 with another falling leg.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1422 resistance turned support holds.

EUR/USD’s rebound from 1.1602 resumed last week and hit as high as 1.1963. Initial bias stays on the upside this week for 1.2011 high. Decisive break of 1.2011 high will resume whole rally from 1.0635 low. Next target is 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452. On the downside, however, break of 1.1800 support will turn bias to the downside, to extend the consolidation pattern from 1.2011 with another falling leg.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1422 resistance turned support holds.

In the long term picture, the strong break of 55 month EMA is taken as a sign of long term trend reversal. Immediate focus will be on decade long trend line resistance (now at 1.1576). Sustained trading above there will add more credence to the case that down trend from 1.6039 (2008 high) has finished at 1.0339. Further break of 1.2555 cluster resistance (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ) will confirm and target 61.8% retracement at 1.3862 and above.

Daily Pivots: (S1) 1.1884; (P) 1.1913; (R1) 1.1940; More…..

Intraday bias in EUR/USD stays mildly on the upside for further rally. Decisive break of 1.2011 high will resume whole rally from 1.0635 low. On the downside, though, break of 1.1800 support will turn bias to the downside, to extend the consolidation pattern from 1.2011 with another falling leg.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1422 resistance turned support holds.

Daily Pivots: (S1) 1.1884; (P) 1.1913; (R1) 1.1940; More…..

Intraday bias in EUR/USD remains on the upside despite mild loss of upside momentum. Decisive break of 1.2011 high will resume whole rally from 1.0635 low. On the downside, though, break of 1.1800 support will turn bias to the downside, to extend the consolidation pattern from 1.2011 with another falling leg.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1422 resistance turned support holds.

Daily Pivots: (S1) 1.1887; (P) 1.1908; (R1) 1.1935; More…..

Intraday bias in EUR/USD stays on the upside for retesting on 1.2011 high. Decisive break there will resume whole rally from 1.0635 low. On the downside, though, break of 1.1800 support will turn bias to the downside, to extend the consolidation pattern from 1.2011 with another falling leg.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1422 resistance turned support holds.

Daily Pivots: (S1) 1.1854; (P) 1.1874; (R1) 1.1912; More…..

EUR/USD’s breach of 1.1920 suggests that rebound from 1.1602 is resuming. Intraday bias is back on the upside for retesting 1.2011 high. Decisive break there will resume whole rally from 1.0635 low. On the downside, though, break of 1.1800 support will turn bias to the downside, to extend the consolidation pattern from 1.2011 with another falling leg.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1422 resistance turned support holds.

Daily Pivots: (S1) 1.1854; (P) 1.1874; (R1) 1.1912; More…..

Intraday bias in EUR/USD remains neutral first. On the upside, break of 1.1920 will reaffirm the case that consolidation from 1.2011 has completed at 1.1602. Further rise would be seen to retest 1.2011 high. However, break of 1.1745 support will turn bias to the downside to extend the consolidation with another falling leg.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1422 resistance turned support holds.

Daily Pivots: (S1) 1.1792; (P) 1.1849; (R1) 1.1898; More…..

EUR/USD is still bounded in range below 1.1920. Intraday bias remains neutral and outlook is unchanged. On the upside, break of 1.1920 will reaffirm the case that consolidation from 1.2011 has completed at 1.1602. Further rise would be seen to retest 1.2011 high. However, break of 1.1745 support will turn bias to the downside to extend the consolidation with another falling leg.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1422 resistance turned support holds.

Daily Pivots: (S1) 1.1792; (P) 1.1849; (R1) 1.1898; More…..

EUR/USD is staying in range trading below 1.1920 and intraday bias stays neutral. On the upside, break of 1.1920 will reaffirm the case that consolidation from 1.2011 has completed at 1.1602. Further rise would be seen to retest 1.2011 high. However, break of 1.1745 support will turn bias to the downside to extend the consolidation with another falling leg.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1422 resistance turned support holds.

Daily Pivots: (S1) 1.1842; (P) 1.1867; (R1) 1.1883; More…..

EUR/USD is still bounded in range below 1.1920 and intraday bias remains neutral. On the upside, break of 1.1920 will reaffirm the case that consolidation from 1.2011 has completed at 1.1602. Further rise would be seen to retest 1.2011 high. However, break of 1.1745 support will turn bias to the downside to extend the consolidation with another falling leg.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1422 resistance turned support holds.

Daily Pivots: (S1) 1.1842; (P) 1.1867; (R1) 1.1883; More…..

Intraday bias in EUR/USD remains neutral at this point and some more sideway trading could be seen. On the upside, break of 1.1920 will reaffirm the case that consolidation from 1.2011 has completed at 1.1602. Further rise would be seen to retest 1.2011 high. However, break of 1.1745 support will turn bias to the downside to extend the consolidation with another falling leg.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1422 resistance turned support holds.