Daily Pivots: (S1) 1.0929; (P) 1.0957; (R1) 1.0972; More…

EUR/USD’s decline from 1.1239 is extending today and intraday bias stays on the downside. Further fall should be seen to retest 1.0879 low. On the upside, above 1.0985 minor resistance will turn intraday bias neutral first. But recovery should be limited below 1.1095 resistance to bring fall resumption.

In the bigger picture, rebound from 1.0879 is seen as a corrective that might have completed after rejection by 55 week EMA. Break of 1.0879 will resume the down trend from 1.2555 (2018 high) for 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813). Sustained break there will pave the way to retest 1.0339 low. For now, this will remain the favored case as long as 1.1239 resistance holds.

Daily Pivots: (S1) 1.1424; (P) 1.1463; (R1) 1.1519; More…..

Intraday bias in EUR/USD remains on the upside for the moment. Current rise from 1.1289 is seen as another rising leg in the correction pattern from 1.1215. Further rally would be see to 1.1569 resistance and above. On the downside, break of 1.1407 minor support will turn bias back to the downside for 1.1289 support instead.

In the bigger picture, as long as 1.1814 resistance holds, down trend down trend from 1.2555 medium term top is still in progress and should target 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. However, break of 1.1814 will confirm completion of such down trend and turn medium term outlook bullish.

Daily Pivots: (S1) 1.2025; (P) 1.2050; (R1) 1.2088; More….

EUR/USD is staying in consolidation below 1.2149 and intraday bias remains neutral. Downside should be contained by 38.2% retracement of 1.1703 to 1.2149 at 1.1979 to bring rebound. On the upside, above 1.2075 minor resistance will turn bias back to the upside for 1.2149 resistance. Break there will resume the rise from 1.1703 to 1.2242/2348 resistance zone. However, firm break of 1.1979 will bring deeper fall to 1.1873.

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) 1.1806; (P) 1.1836; (R1) 1.1882; More…..

Intraday bias in EUR/USD remains neutral and more consolidation could be seen. Still, as long as 1.1762 support holds, another rise is in favor and break of 1.2011 will will resume the whole rise from 1.0635. However, firm break of 1.1762 will confirm short term topping and turn bias to the downside for deeper pull back, to 55 day EMA (now at 1.1632) and below.

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) 1.1192; (P) 1.1248; (R1) 1.1278; More…..

EUR/USD retreats notably after hitting 1.1304 and intraday bias is turned neutral first. Further rise will remain in favor as long as 1.121 resistance turned support holds. Above 1.1304 will extend the rebound from 1.1107 short term bottom to 1.1448 key resistance next. However, break of 1.1215 will turn bias back to the downside for retesting 1.1107 low instead.

In the bigger picture, down trend from 1.2555 (2018 high) might still be in progress. Such decline would target 78.6% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.0813 on resumption. However, break of 1.1448 resistance would confirm medium term bottoming, on bullish convergence condition in daily MACD. In such case, stronger rebound should be seen to 38.% retracement of 1.2555 to 1.1107 at 1.1660. We’d look at the structure of the rebound to decide whether it’s a corrective rise later.

Daily Pivots: (S1) 1.1724; (P) 1.1758 (R1) 1.1783; More…..

EUR/USD drops sharply today but stays above 1.1679 minor support so far. Intraday bias remains neutral first. On the downside, break of 1.1679 will indicate that corrective rise from 1.1507 has completed. Intraday bias should then be turned back to the downside for retesting 1.1507. Firm break there will resume larger fall from 1.2555. Above 1.790 will extend the corrective rice. But upside be limited by 1.1851 resistance to bring reversal.

In the bigger picture, EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.0000; (P) 1.0037; (R1) 1.0074; More…

Further decline is still expected with 1.0189 minor resistance intact. Current down trend should target 100% projection of 1.1184 to 1.0348 from 1.0773 at 0.9937. 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 bias back to the upside for stronger rebound.

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) 1.1290; (P) 1.1338; (R1) 1.1366; More…

EUR/USD’s fall accelerates to as low as 1.1262 so far today and intraday bias stays on the downside. Sustained break of 1.1289 long term fibonacci level will carry larger bearish implication. Next target will be 161.8% projection of 1.1908 to 1.1523 from 1.1691 at 1.1068. On the upside, above 1.1384 minor resistance will turn intraday bias neutral first. But outlook will remain bearish as long as 1.1523 support turned resistance holds.

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.

EUR/USD recovered to 1.1370 last week but retreated sharply since then. Initial bias remains neutral this week first. On the upside, above 1.1370 will target 1.1422. Break there will resume whole rebound from 1.0635 to 1.1496 key resistance. However, on the downside, break of 1.1258 minor support will turn bias back to the downside, to extend the consolidation to 38.2% retracement of 1.0635 to 1.1422 at 1.1121.

In the bigger picture, as long as 1.1496 resistance holds, whole down trend from 1.2555 (2018 high) should still be in progress. Next target is 1.0339 (2017 low). However, sustained break of 1.1496 will argue that such down trend has completed. Rise from 1.0635 could then be seen as the third leg of the pattern from 1.0339. In this case, outlook will be turned bullish for retesting 1.2555.

In the long term picture, outlook remains bearish for now as it’s staying below 55 month EMA, as well as decade long falling trend line. Down trend from 1.6039 (2008 high) is still in favor to extend through 1.0339 down the road. However, sustained trading above 55 month EMA will firstly suggest that fall from 1.2555 has completed. It would also be an early indication on long term bullish reversal. Focus would be back on 1.255 cluster resistance (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ).

Daily Pivots: (S1) 1.0706; (P) 1.0735; (R1) 1.0760; More…

EUR/USD’s fall from 1.1274 resumed by breaking through 1.0685 temporary low today. Intraday bias is back on the downside for 1.0609/34 cluster support zone next. On the upside, break of 1.0767 resistance will now indicate short term bottoming, and turn bias back to the upside for stronger rebound to 1.0944 resistance next.

In the bigger picture, fall from 1.1274 medium term top is seen as a correction to up trend from 0.9534 (2022 low). Strong support could be seen from 1.0634 cluster support (38.2% retracement of 0.9534 to 1.1274 at 1.0609) to bring rebound, at least on first attempt. Break of 1.0944 will indicate the start of the second leg, and target retest of 1.1274. However, sustained break of 1.0609/0634 will raise the chance of bearish trend reversal, and target 61.8% retracement at 1.0199.

Daily Pivots: (S1) 1.2229; (P) 1.2286; (R1) 1.2328; More…

EUR/USD recovers after drawing support from 1.2214 minor support. But upside is limited well below 1.2348 temporary top. Intraday bias remains neutral first and further rise is still in favor. On the upside, break of 1.2348 will resume larger up trend for 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452 next. Though, considering bearish divergence condition in 4 hour MACD, break of 1.2214 will suggest short term topping. Intraday bias will be turned back to the downside, for pull back to 1.2058 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. We’d be alerted to topping sign around 1.2516/55. But sustained break there will carry long term bullish implications.

Daily Pivots: (S1) 1.2356; (P) 1.2416 (R1) 1.2461; More….

EUR/USD’s retreat from 1.2475 extends lower today but it’s staying above 1.2285 minor support. Intraday bias neutral and another rise remains mildly in favor. On the upside, above 1.2475 will target a test on 1.2555 high, which is close to 1.2516 key long term fibonacci level. We’d be cautious on reversal from there. But decisive break will carry larger bullish implications. On the downside, below 1.2285 minor support will turn bias to the downside for 1.2154 and possibly below.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.1856; (P) 1.1901 (R1) 1.1960; More….

EUR/USD’s rebound from 1.1822 extends to as high as 1.1958 so far. Intraday bias stays on the upside for 4 hour 55 EMA (now at 1.1963) and above. Nonetheless, such rebound is viewed as a corrective recovery. Therefore, upside should be limited by 38.2% retracement of 1.2413 to 1.1822 at 1.2048 to bring fall resumption. On the downside, below 1.1822 will resume the whole decline from 1.2555 and target 1.1708 medium term fibonacci level next.

In the bigger picture, current decline and firm break of 1.2154 support confirms rejection by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. A medium term top should be in place at 1.2555 and deeper decline would be seen back to 38.2% retracement of 1.0339 to 1.2555 at 1.1708 first. With current downside acceleration, there is prospect of hitting 61.8% retracement at 1.1186 before completing the decline. But still, we’ll need to look at the structure before deciding if it’s a corrective or impulsive move.

Daily Pivots: (S1) 1.0851; (P) 1.0872; (R1) 1.0889; More…

Range trading continues in EUR/USD and intraday bias stays neutral at this point. Further rally is expected as long as 1.0788 support holds. Break of 1.0915 will resume the rally from 1.0601 to 61.8% projection of 1.0601 to 1.0894 from 1.0788 at 1.0969. However, firm break of 1.0788 will turn bias back to the downside for deeper decline instead.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern. Fall from 1.1138 is seen as the third leg and could have completed. Firm break of 1.1138 will argue that larger up trend from 0.9534 (2022 low) is ready to resume through 1.1274 high. On the downside, break of 1.0788 support will extend the corrective pattern instead.

Daily Pivots: (S1) 1.0615; (P) 1.0628; (R1) 1.0652; More…

EUR/USD recovers after drawing support from 4 hour 55 EMA but stays below 1.0733 resistance. Intraday bias remains neutral for the moment. Further rally is expected as long as 1.0481 resistance turned support holds. Firm break of 61.8% projection of 0.9729 to 1.0481 from 1.0289 at 1.0754 will pave the way to 100% projection at 1.1041. However, firm break of 1.0481 will confirm short term topping and bring deeper fall to 1.0289 support.

In the bigger picture, focus stays on 38.2% retracement of 1.2348 (2021 high) to 0.9534 at 1.0609. Rejection by 1.0609 will suggest that price actions from 0.9534 medium term bottom are developing into a corrective pattern. Thus, medium bearishness is retained for another fall through 0.9534 at a later stage. However, sustained break of 1.0609 will raise the chance of trend reversal and target 61.8% retracement at 1.1273.

Daily Pivots: (S1) 1.1346; (P) 1.1369; (R1) 1.1390; More……

Intraday bias in EUR/USD remains neutral for consolidation below 1.1412. With 1.1317 minor support intact, another rise remains in favor. On the upside, break of 100% projection of 1.1107 to 1.1347 from 1.1181 at 1.1142 will pave the way to 161.8% projection at 1.1569 next. However, firm break of 1.1317 will be an early sign of completion of rise from 1.1107. Intraday bias will be turned back to the downside for 1.1181 support instead.

In the bigger picture, considering bullish convergence condition in daily and weekly MACD, a medium term bottom should be in place at 1.1107 after hitting 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186. Further rise should be seen to 38.2% retracement of 1.2555 to 1.1107 at 1.1660. Reactions from there could indicate whether rebound from 1.1107 is a corrective rise or reversing medium term trend.

Daily Pivots: (S1) 1.1166; (P) 1.1216; (R1) 1.1244; More…..

EUR/USD’s rebound from 1.1111 was held at 1.1264 and dropped sharply. Intraday bias remains neutral first and outlook is unchanged. Price actions from 1.1111 are seen a corrective move. In case of another rise, upside should be limited well below 1.1324 resistance to bring fall resumption. On the downside, below 1.1175 minor support will turn bias to the downside for 1.1111 first. Break there will resume larger down trend from 1.2555. However, firm break of 1.1324 resistance will be an early indication of larger bullish reversal and turn focus to 1.1448 resistance.

In the bigger picture, down trend from 1.2555 (2018 high) has just resumed. Current fall should now target 78.6% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.0813. Sustained break there will pave the way to retest 1.0339. On the downside, break of 1.1448 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 0.9862; (P) 0.9930; (R1) 1.0055; More…

EUR/USD’s rebound from 0.9534 is still in progress and intraday bias stays on the upside. Considering bullish convergence condition in daily MACD, sustained break of 55 day EMA (now at 1.0022) will raise the chance of medium term bottoming at 0.9534. Further rally should then be seen to 38.2% retracement of 1.1494 to 0.9534 at 1.0283. On the downside, though, break of 0.9734 minor support will bring retest of 0.9534 low 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, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD edged lower to 1.0812 last week but quickly recovered. Initial bias remains neutral this week first. Further decline is mildly in favor as long as 1.0931 resistance holds. On the downside, break of 1.0812 will resume the fall from 1.1138 to 1.0722 support. On the upside, above 1.0931 will turn bias to the upside for stronger rebound towards 1.1138 resistance.

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 1.0722 support will argue that the third leg has already started for 1.0447 and below.

In the long term picture, a long term bottom is in place at 0.9534 on bullish convergence condition in M MACD. It’s still early to call for bullish trend reversal with the pair staying inside falling channel in the monthly chart. Nevertheless, sustained trading above 55 M EMA (now at 1.1078) and break of 1.1274 resistance will raise the chance of reversal and target 1.2348 resistance for confirmation.

Daily Pivots: (S1) 1.0919; (P) 1.0957; (R1) 1.1022; More…

Intraday bias in EUR/USD remains neutral first. On the upside, break of 1.1008 resistance will extend the corrective pattern from 1.0635 with another rise towards 1.1147 resistance. But upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0870 minor support will turn bias to the downside and target a test on 1.0635 low.

In the bigger picture, as long as 1.1496 resistance holds, whole down trend from 1.2555 (2018 high) should still be in progress. Next target is 1.0339 (2017 low). However, sustained break of 1.1496 will argue that such down trend has completed. Rise from 1.0635 could then be seen as the third leg of the pattern from 1.0339. In this case, outlook will be turned bullish for retesting 1.2555.