Daily Pivots: (S1) 1.0469; (P) 1.0555 (R1) 1.0605; More…

EUR/USD’s fall from 1.0786 is still in progress. Intraday bias stays on the downside for retesting 1.0348 and 1.0339 long term support. Decisive break there will resume larger down trend. Next target is long term projection level at 1.0090. On the upside, above 1.0610 minor resistance will turn intraday bias neutral first.

In the bigger picture, focus stays on 1.0339 long term support (2017 low). Decisive break there will resume whole down trend from 1.6039 (2008 high). Next target is 61.8% projection of 1.3993 to 1.0339 from 1.2348 at 1.0090. However, firm break of 1.0805 support turned resistance will delay this bearish case, and bring stronger rebound first.

Daily Pivots: (S1) 1.0783; (P) 1.0823; (R1) 1.0872; More…

EUR/USD’s rally from 1.0634 short term bottom continues today and intraday bias stays on the upside. Corrective fall from 1.1094 could have completed already. Further rally would be seen back to retest 1.1094 high. On the downside, though, below 1.0773 minor support will mix up the outlook and turn intraday bias neutral first.

In the bigger picture, as long as 1.0515 support holds, rise from 0.9534 (2022 low) would still extend higher. Sustained break of 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 will solidify the case of bullish trend reversal and target 1.2348 resistance next (2021 high).

Daily Pivots: (S1) 1.2063; (P) 1.2090; (R1) 1.2119; More….

No change in EUR/USD’s outlook as further rise is expected with 1.1992 minor support intact. Current rally from 1.1703 should target a test on 1.2242/2348 resistance zone. Decisive break there will resume larger up trend from 1.0635. On the downside, though, break of 1.1992, will turn bias to the downside for deeper pull back.

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. However, sustained break of 1.1602 will argue that whole rise from 1.10635 has completed. Deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289.

Daily Pivots: (S1) 1.1232; (P) 1.1265; (R1) 1.1302; More…

Range trading continues in EUR/USD and intraday bias remains neutral first. On the upside, firm break of 1.1382 resistance should confirm short term bottoming at 1.1186. Intraday bias will be turned back to the upside for 55 day EMA (now at 1.1473). On the downside, break of 1.1185 will resume larger fall from 1.2348.

In the bigger picture, there are various ways of interpreting the fall from 1.2348 (2021 high). It could be a correction to rise from 1.0635 (2020 low), the fourth leg of a sideway pattern from 1.0339 (2017 low), or resuming long term down trend. In any case, outlook will now stay bearish as long as 1.1703 support turned resistance holds. Sustained break of 61.8% retracement of 1.0635 to 1.2348 at 1.1289 would pave the way back to 1.0635.

Daily Pivots: (S1) 1.1124; (P) 1.1141; (R1) 1.1159; More…

EUR/USD is staying in consolidation below 1.1199 and intraday bias remains neutral first. Further rise will remain in favor as long as 1.1039 support holds. On the upside, above 1.1199 will turn bias back to the upside for 100% projection of 1.0879 to 1.1179 from 1.0981 at 1.1281 next. However, break of 1.1039 will turn focus back to 1.0981 support instead.

In the bigger picture, rebound from 1.0879 is seen as a corrective move first. In case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

Daily Pivots: (S1) 0.9989; (P) 1.0086 (R1) 1.0139; More…

EUR/USD’s down trend is in progress today and reaches as low as 0.9999 so far. Intraday bias stays on the downside. Current down trend should target 100% projection of 1.1184 to 1.0348 from 1.0773 at 0.9937, which is close to parity. Firm break there could prompt downside acceleration to 161.8% projection at 0.9420. On the upside, break of 1.0189 minor resistance will turn intraday bias neutral again. But outlook stays bearish as long as 1.0358 support turned resistance holds.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, outlook will stay bearish as long as 1.0773 resistance holds, in case of rebound.

Daily Pivots: (S1) 1.1687; (P) 1.1716; (R1) 1.1772; More…..

Intraday bias in EUR/USD remains neutral at this point. On the downside, break of 1.1612 will extend the fall from 1.2011 short term top to 38.2% retracement of 1.0635 to 1.2011 at 1.1485. However, firm break of 1.1752 will suggest that the corrective pull back has completed. Intraday bias will be turned back to the upside for retesting 1.2011.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should 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) 1.0570; (P) 1.0619; (R1) 1.0672; More…

Intraday bias in EUR/USD stays neutral at this point. On the upside, break of 1.0693 will extend the rebound from 1.0447 to 1.0764 cluster resistance (38.2% retracement of 1.1274 to 1.0447 at 1.0763). However, break of 1.0515 will indicate that larger fall from 1.1274 is ready to resume through 1.0447 to 1.0199 fibonacci level.

In the bigger picture, fall from 1.1274 medium term top could be viewed part of a correction to rise from 0.9534 (2022 low). An interim bounce from current level, as the second leg of the pattern, cannot be ruled out. But upside should be limited well below 1.1274 resistance to start the third level. The pattern would likely at least have a take on 61.8% retracement of 0.9534 to 1.1274 at 1.0199 before completion.

Daily Pivots: (S1) 1.2156; (P) 1.2179; (R1) 1.2213; More…

EUR/USD is staying in consolidation from 1.2265 and intraday bias remains neutral for the moment. On the upside, above 1.2265 will resume the rise from 1.1703 to retest 1.2348 high. On the downside, below 1.2103 will target 1.1985 support. Break there will confirm that consolidation pattern from 1.2348 has started the third leg. Deeper fall would then be seen back to 1.1703 support.

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. Reaction from 1.2555 should reveal underlying long term momentum in the pair.

Daily Pivots: (S1) 1.0644; (P) 1.0685; (R1) 1.0709; More…

Intraday bias in EUR/USD stays neutral with focus on 55 4H EMA (now at 1.0657). Further rise is in favor as long as this EMA holds. Decisive break of 1.0764 cluster resistance (38.2% retracement of 1.1274 to 1.0447 at 1.0763) will extend the rise from 1.0447 to 61.8% retracement at 1.0958 next. However, sustained break of 55 4H EMA will argue that the rebound has completed, and target 1.0515 support, and then 1.0447 low.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is tentatively seen as the second leg. Hence while further rally could be seen, upside should be limited by 1.1274 to bring the third leg of the pattern.

Daily Pivots: (S1) 0.9852; (P) 0.9919; (R1) 0.9974; More…

Downside momentum in EUR/USD is a bit unconvincing. But further decline is expected with 1.0078 resistance intact. Decisive break of 61.8% projection of 1.0773 to 0.9951 from 1.0368 at 0.9860 should prompt downside acceleration to 100% projection at 0.9546. On the upside, however, firm break of 1.0078 will indicate short term bottoming, and turn bias back to the upside for 1.0368 resistance instead.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, outlook will stay bearish as long as 1.0368 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 1.1837; (P) 1.1879; (R1) 1.1946; More…..

Range trading continues in EUR/USD and intraday bias remains neutral first. Further rise is in favor and break of 1.1965 will resume whole rise from 1.0635. However, considering bearish divergence condition in 4 hour MACD, break of 1.1711 should confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.1592).

In the bigger picture, down trend from 1.2555 (2018 high) has completed at 1.0635 already. Rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should 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) 1.0904; (P) 1.0924; (R1) 1.0946; More…

Outlook in EUR/USD is unchanged and intraday bias stays neutral at this point. Further rise is in favor as long as 55 4H EMA (now at 1.0894) holds. Above 1.0980 will resume the rally from 1.0694 to retest 1.1138 high. However, sustained break of the EMA will turn bias to the downside for 1.0797 support instead.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

Daily Pivots: (S1) 1.0550; (P) 1.0571; (R1) 1.0603; More…

Intraday bias in EUR/USD remains neutral first. Firm break of 1.0693 resistance will argue that pull back from 1.1032 has completed. Intraday bias will be turned back to the upside for 1.0803 resistance and above. In case of another decline, strong support could be seen from 38.2% retracement of 0.9534 to 1.1032 at 1.0463 to bring reversal.

In the bigger picture, as long as 1.0482 support holds, rise from 0.9534 (2022 low) should continue to 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. However, sustained break of 1.0482 will bring deeper fall to 61.8% retracement of 0.9534 to 1.1032 at 1.0106, even as a corrective pull back.

Daily Pivots: (S1) 1.2053; (P) 1.2079; (R1) 1.2107; More….

EUR/USD is staying in consolidation from 1.2181 and intraday bias remains neutral. Further rise is expected with 1.1985 support intact. On the upside, break of 1.2181 will resume the rally from 1.1703 for retesting 1.2242/2348 resistance zone. Decisive break there will resume larger up trend for 1.2555 key resistance zone 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. Reaction from 1.2555 should reveal underlying long term momentum in the pair.

Daily Pivots: (S1) 1.2093; (P) 1.2153; (R1) 1.2189; More…

Intraday bias in EUR/USD remains neutral first. On the downside, firm break of 1.1985 support should confirm that consolidation pattern from 1.2348 has started the third leg. Deeper fall would then be seen back to 1.1703 support. On the upside, above 1.2265 will resume the rise from 1.1703 to retest 1.2348 high.

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. Reaction from 1.2555 should reveal underlying long term momentum in the pair.

Daily Pivots: (S1) 1.0892; (P) 1.0946; (R1) 1.0982; More…

Intraday bias in EUR/USD remains neutral and outlook stays bullish with 1.0830 support intact. On the upside, break of 1.1075 will will resume larger up trend to 1.1273 fibonacci level. Break there will target 61.8% projection of 0.9534 to 1.1032 from 1.0515 at 1.1441. However, firm break of 1.0830 will confirm short term topping and bring deeper decline to 1.0711 support instead.

In the bigger picture, rise from 0.9534 (2022 low) is in progress for 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. Sustained break there will solidify the case of bullish trend reversal and target 1.2348 resistance next (2021 high). This will now remain the favored case as long as 1.0515 support holds, even in case of deeper pull back.

Daily Pivots: (S1) 1.0932; (P) 1.0961; (R1) 1.1017; More…

Intraday bias in EUR/USD remains on the upside at this point. Current rise from 1.0634 should target a test on 1.1094 high. Decisive break there will confirm resumption of whole up trend from 0.9534. However, firm break of 1.0891 will extend the corrective pattern from 1.1094 with another falling leg, targeting 1.0634 and below.

In the bigger picture, as long as 1.0515 support holds, rise from 0.9534 (2022 low) would still extend higher. Sustained break of 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 will solidify the case of bullish trend reversal and target 1.2348 resistance next (2021 high).

Daily Pivots: (S1) 1.0588; (P) 1.0611; (R1) 1.0643; More…

EUR/USD’s rebound from 1.0447 continues and the break of 1.0616 confirms short term bottoming. intraday bias is back on the upside for 1.0764 cluster resistance (38.2% retracement of 1.1274 to 1.0447 at 1.0763). On the downside, though, break of 1.0518 will bring retest of 1.0447 low instead.

In the bigger picture, fall from 1.1274 medium term top could still be a correction to rise from 0.9534 (2022 low). But chance of a complete trend reversal is rising. In either case, current fall should target 61.8% retracement of 0.9534 to 1.1274 at 1.0199 next. For now, risk will stay on the downside as long as 55 D EMA (now at 1.0719) holds, in case of rebound.

Daily Pivots: (S1) 1.1165; (P) 1.1207; (R1) 1.1274; More…

Intraday bias in EUR/USD remains neutral for consolidation above 1.1120 temporary low. Further fall is expected as long as 1.1299 minor resistance holds. On the downside, break of 1.1120 will resume larger down trend to 61.8% projection of 1.1908 to 1.1185 from 1.1482 at 1.1035. Break will target 100% projection at 1.0759. However, break of 1.1299 minor resistance will bring stronger rebound back towards 1.1482 structural resistance.

In the bigger picture, the strength of the the decline from 1.2348 (2021 high) suggests that it’s not a corrective move. But still, it could be the fourth leg of a sideway pattern from 1.0339 (2017 low), or resuming long term down trend. In any case, outlook will now stay bearish as long as 1.1482 resistance holds. Next target would be 1.0635 low.