Daily Pivots: (S1) 1.0905; (P) 1.1047; (R1) 1.1139; More…

Intraday bias in EUR/USD remains on the downside at this point. Fall form 1.1496 would target a test on 1.0777 low. On the upside, break of 1.1236 minor resistance is needed to indicate completion of the fall. Otherwise, further decline is expected eve in case of recovery.

In the bigger picture, rebound from 1.0777 low faced heavy rejection from 38.2% retracement of 1.2555 to 1.0777 at 1.1456, as well as 55 month EMA. The development argues that price actions from 1.0777 medium term pattern are just corrective the down trend from 1.2555 (2018 high). Further decline is in favor to retest 1.0339 (2017 low). Nevertheless, sustained break of 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876.

Daily Pivots: (S1) 1.1084; (P) 1.1160; (R1) 1.1247; More…

EUR/USD’s fall from 1.1496 resumes by breaking 1.1055 temporary low. Intraday bias is back on the downside for retesting 1.0777 low. On the upside, break of 1.1236 minor resistance is needed to indicate completion of the fall. Otherwise, further decline is expected eve in case of recovery.

In the bigger picture, rebound from 1.0777 low faced heavy rejection from 38.2% retracement of 1.2555 to 1.0777 at 1.1456, as well as 55 month EMA. The development argues that price actions from 1.0777 medium term pattern are just corrective the down trend from 1.2555 (2018 high). Further decline is in favor to retest 1.0339 (2017 low). Nevertheless, sustained break of 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876.

Daily Pivots: (S1) 1.1084; (P) 1.1160; (R1) 1.1247; More…

Intraday bias in EUR/USD remains neutral for the moment. Further fall is mildly in favor with 1.1250 minor resistance intact. On the downside, below 1.1055 will reaffirm the case that rebound from 1.0777 has completed at 1.1496. Intraday bias will be back to the downside for retesting 1.0777. On the upside, however, above 1.1250 minor resistance will turn bias to the upside for 1.1496 resistance again.

In the bigger picture, rebound from 1.0777 low faced heavy rejection from 38.2% retracement of 1.2555 to 1.0777 at 1.1456, as well as 55 month EMA. The development argues that price actions from 1.0777 medium term pattern are just corrective the down trend from 1.2555 (2018 high). Further decline is in favor to retest 1.0339 (2017 low). Nevertheless, sustained break of 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876.

Daily Pivots: (S1) 1.1032; (P) 1.1127; (R1) 1.1198; More…

With 4 hour MACD crossed above signal line, intraday bias is turned neutral first. On the downside, below 1.1055 will reaffirm the case that rebound from 1.0777 has completed at 1.1496. Intraday bias will be back to the downside for retesting 1.0777. On the upside, however, above 1.1250 minor resistance will turn bias to the upside for 1.1496 resistance again.

In the bigger picture, rebound from 1.0777 low faced heavy rejection from 38.2% retracement of 1.2555 to 1.0777 at 1.1456, as well as 55 month EMA. The development argues that price actions from 1.0777 medium term pattern are just corrective the down trend from 1.2555 (2018 high). Further decline is in favor to retest 1.0339 (2017 low). Nevertheless, sustained break of 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876.

Daily Pivots: (S1) 1.1032; (P) 1.1127; (R1) 1.1198; More…

Intraday bias in EUR/USD remains on the downside for the moment. Rebound from 1.0777 could have completed at 1.1496. Deeper fall is mildly in favor for retesting 1.0777 low first. But we’re not expecting a break there, at least not on first attempt. On the upside, above 1.1250 minor resistance will turn bias to the upside for 1.1496 resistance again.

In the bigger picture, rebound from 1.0777 low faced heavy rejection from 38.2% retracement of 1.2555 to 1.0777 at 1.1456, as well as 55 month EMA. The development argues that price actions from 1.0777 medium term pattern are just corrective the down trend from 1.2555 (2018 high). Further decline is in favor to retest 1.0339 (2017 low). Nevertheless, sustained break of 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876.

EUR/USD rose to 1.1496 last week but reversed from there. Current development suggests that rebound from 1.0777 has completed. Initial bias is mildly on the downside this week for retesting 1.0777 low first. But we’re not expecting a break there, at least not on first attempt. on the upside, above 1.1250 minor resistance will turn bias to the upside for 1.1496 resistance again.

In the bigger picture, rebound from 1.0777 low faced heavy rejection from 38.2% retracement of 1.2555 to 1.0777 at 1.1456, as well as 55 month EMA. The development argues that price actions from 1.0777 medium term pattern are just corrective the down trend from 1.2555 (2018 high). Further decline is in favor to retest 1.0339 (2017 low). Nevertheless, sustained break of 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876.

In the long term picture, outlook remains bearish for now. EUR/USD is held below decade long trend line that started from 1.6039 (2008 high). It was also rejected by 38.2% retracement of 1.6039 to 1.0339 at 1.2516 before. A break of 1.0039 low will remain in favor as long as 55 month EMA (now at 1.1512) holds.

Daily Pivots: (S1) 1.1043; (P) 1.1188; (R1) 1.1321; More…

Focus stays on 1.1095 support in EUR/USD. Firm break there will argue that whole rebound form 1.0777 has completed, after rejection by 1.1496 fibonacci resistance. Intraday bias will be turned to the downside for retesting 1.0777 low. Though, rebound from current level will retain near term bullishness and bring another rally through 1.1496 at a later stage.

In the bigger picture, a medium term bottom should have formed at 1.0777 after drawing support from 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break of 38.2% retracement of 1.2555 to 1.0777 at 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876. Rejection by 1.1456 will suggests that price actions from 1.0777 are merely a correction. Another fall below 1.0777 low would be seen at a later stage in this case.

Daily Pivots: (S1) 1.1043; (P) 1.1188; (R1) 1.1321; More…

EUR/USD dropped to as low as 1.1055 and breached 1.1095 support, but quickly recovered. Intraday bias remains neutral first. On the downside, firm break of 1.1096 will argue that whole rebound form 1.0777 has completed, after rejection by 1.1496 fibonacci resistance. Intraday bias will be turned to the downside for retesting 1.0777 low. Though, rebound from current level will retain near term bullishness and bring another rally through 1.1496 at a later stage.

In the bigger picture, a medium term bottom should have formed at 1.0777 after drawing support from 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break of 38.2% retracement of 1.2555 to 1.0777 at 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876. Rejection by 1.1456 will suggests that price actions from 1.0777 are merely a correction. Another fall below 1.0777 low would be seen at a later stage in this case.

Daily Pivots: (S1) 1.1231; (P) 1.1299; (R1) 1.1340; More…

EUR/USD’s retreat from 1.1496 extends today but it’s staying above 1.1095 support so far. Intraday bias remains neutral and another rise is in favor. On the upside, sustained break of 1.1496 will pave the way to next fibonacci level at 1.1876. However, firm break of 1.1096 will argue that whole rebound form 1.0777 has completed. Intraday bias will be turned back to the downside for retesting 1.0777 low.

In the bigger picture, a medium term bottom should have formed at 1.0777 after drawing support from 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break of 38.2% retracement of 1.2555 to 1.0777 at 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876. Rejection by 1.1456 will suggests that price actions from 1.0777 are merely a correction. Another fall below 1.0777 low would be seen at a later stage in this case.

Daily Pivots: (S1) 1.1231; (P) 1.1299; (R1) 1.1340; More…

EUR/USD is staying in consolidation form 1.1496 and intraday bias remains neutral first. Further rise is in favor as long as 1.1095 support holds. Sustained break of 1.1496 will pave the way to next fibonacci level at 1.1876. However, break of 1.1096 will turn bias back to the downside for retesting 1.0777 low.

In the bigger picture, a medium term bottom should have formed at 1.0777 after drawing support from 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break of 38.2% retracement of 1.2555 to 1.0777 at 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876. Rejection by 1.1456 will suggests that price actions from 1.0777 are merely a correction. Another fall below 1.0777 low would be seen at a later stage in this case.

Daily Pivots: (S1) 1.1218; (P) 1.1340; (R1) 1.1405; More…

Intraday bias in EUR/USD remains neutral as consolidation form 1.1496 continues. Further rise is in favor as long as 1.1095 support holds. Sustained break of 1.1496 will pave the way to next fibonacci level at 1.1876. However, break of 1.1096 will turn bias back to the downside for retesting 1.0777 low.

In the bigger picture, a medium term bottom should have formed at 1.0777 after drawing support from 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break of 38.2% retracement of 1.2555 to 1.0777 at 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876. Rejection by 1.1456 will suggests that price actions from 1.0777 are merely a correction. Another fall below 1.0777 low would be seen at a later stage in this case.

Daily Pivots: (S1) 1.1218; (P) 1.1340; (R1) 1.1405; More…

EUR/USD is staying in consolidation from 1.1496 and intraday bias remains neutral. Further rise is in favor as long as 1.1095 support holds. Sustained break of 1.1496 will pave the way to next fibonacci level at 1.1876. However, break of 1.1096 will turn bias back to the downside for retesting 1.0777 low.

In the bigger picture, a medium term bottom should have formed at 1.0777 after drawing support from 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break of 38.2% retracement of 1.2555 to 1.0777 at 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876. Rejection by 1.1456 will suggests that price actions from 1.0777 are merely a correction. Another fall below 1.0777 low would be seen at a later stage in this case.

Daily Pivots: (S1) 1.1353; (P) 1.1424; (R1) 1.1513; More…

Intraday bias in EUR/USD remains neutral for consolidation from 1.1496. Further rise is in favor as long as 1.1095 support holds. Sustained break of 1.1496 will pave the way to next fibonacci level at 1.1876. However, break of 1.1096 will turn bias back to the downside for retesting 1.0777 low.

In the bigger picture, a medium term bottom should have formed at 1.0777 after drawing support from 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break of 38.2% retracement of 1.2555 to 1.0777 at 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876. Rejection by 1.1456 will suggests that price actions from 1.0777 are merely a correction. Another fall below 1.0777 low would be seen at a later stage in this case.

Daily Pivots: (S1) 1.1353; (P) 1.1424; (R1) 1.1513; More…

EUR/USD formed a temporary top at 1.1496 after failing to sustain above 1.1456 fibonacci resistance. Intraday bias is turned neutral first some consolidations first. Further rise is in favor as long as 1.1095 support holds. Sustained break of 1.1496 will pave the way to next fibonacci level at 1.1876. However, break of 1.1096 will turn bias back to the downside for retesting 1.0777 low.

In the bigger picture, a medium term bottom should have formed at 1.0777 after drawing support from 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break of 38.2% retracement of 1.2555 to 1.0777 at 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876. Rejection by 1.1456 will suggests that price actions from 1.0777 are merely a correction. Another fall below 1.0777 low would be seen at a later stage in this case.

Daily Pivots: (S1) 1.1216; (P) 1.1286; (R1) 1.1359; More…

Intraday bias in EUR/USD remains on the upside with 1.1287 minor support intact. Sustained break of 1.1456 fibonacci resistance will pave the way to next fibonacci level at 1.1876. On the downside, below 1.1287 minor support will turn intraday bias neutral and bring retreat first.

In the bigger picture, a medium term bottom should have formed at 1.0777 after drawing support from 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break of 38.2% retracement of 1.2555 to 1.0777 at 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876. Rejection by 1.1456 will suggests that price actions from 1.0777 are merely a correction. Another fall below 1.0777 low would be seen at a later stage in this case.

Daily Pivots: (S1) 1.1216; (P) 1.1286; (R1) 1.1359; More…

EUR/USD surges to as high as 1.1496 so far and breaches 1.1456 fibonacci resistance. There is no sign of topping yet. Intraday bias remains on the upside. Sustained break of 1.1456 will pave the way to next fibonacci level at 1.1876. On the downside, below 1.1287 minor support will turn intraday bias neutral first and bring retreat first.

In the bigger picture, a medium term bottom should have formed at 1.0777 after drawing support from 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break of 38.2% retracement of 1.2555 to 1.0777 at 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876. Rejection by 1.1456 will suggests that price actions from 1.0777 are merely a correction. Another fall below 1.0777 low would be seen at a later stage in this case.

EUR/USD’s strong break of 1.1239 resistance last week confirmed medium term bottoming at 1.0777. Initial bias remains on the upside this week for 1.1456 fibonacci level. Reactions from there would reveal if its undergoing medium term bullish reversal. On the downside, break of 1.1095 minor support is needed to indicate short term topping. Otherwise, near term outlook will remain bullish in case of recovery.

In the bigger picture, a medium term bottom should have formed at 1.0777 after drawing support from 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break of 38.2% retracement of 1.2555 to 1.0777 at 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876. Rejection by 1.1456 will suggests that price actions from 1.0777 are merely a correction. Another fall below 1.0777 low would be seen at a later stage in this case.

In the long term picture, outlook remains bearish for now. EUR/USD is held below decade long trend line that started from 1.6039 (2008 high). It was also rejected by 38.2% retracement of 1.6039 to 1.0339 at 1.2516 before. A break of 1.0039 low will remain in favor as long as 55 month EMA (now at 1.1512) holds.

Daily Pivots: (S1) 1.1160; (P) 1.1202; (R1) 1.1285; More…

EUR/USD surges to as high as 1.1340 so far today. The strong break of 1.1239 resistance confirms medium term bottoming at 1.0777. Intraday bias stays on the upside for 1.1456 fibonacci level next. Reactions from there would reveal if there is medium term bullish reversal. On the downside, though, break of 1.1095 minor support is needed to indicate short term topping. Otherwise, near term outlook will remain bullish in case of recovery.

In the bigger picture, a medium term bottom should have formed at 1.0777 after drawing support from 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break of 38.2% retracement of 1.2555 to 1.0777 at 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876. Rejection by 1.1456 will suggests that price action from 1.0777 are merely a correction. And another fall below 1.0777 low would be seen at a later stage.

Daily Pivots: (S1) 1.1160; (P) 1.1202; (R1) 1.1285; More…

Focus remains on 1.1239 key resistance in EUR/USD. Decisive break there should confirm medium term bottoming at 1.0777. Near term outlook will be turned bullish for 1.1456 fibonacci level next. Nevertheless, break of 1.1095 minor support will suggest rejection by 1.1239, and retain near term bearishness. Intraday bias will be turned back to the downside for retesting 1.0777 low instead.

In the bigger picture, as long as 1.1239 resistance holds, larger down trend from 1.2555 (2018 high) is still in favor to extend through 1.0777 low. However, sustained break of 1.1239 will also have 55 week EMA (1.1154) decisive taken out. That should confirm medium term bottoming, with bullish convergence condition in weekly MACD. Further rise could then be seen back to 38.2% retracement of 1.2555 to 1.0777 at 1.1456 next.

Daily Pivots: (S1) 1.1091; (P) 1.1139; (R1) 1.1182; More…

Intraday bias in EUR/USD remains neutral with focus on 1.1239 key resistance. Decisive break of 1.1239 will confirm medium term bottoming at 1.0777 and turn outlook bullish.. On the downside, break of 1.1038 minor support will turn bias back to the downside for retesting 1.0777 low. That would also retain near term bearishness.

In the bigger picture, as long as 1.1239 resistance holds, larger down trend from 1.2555 (2018 high) is still in favor to extend through 1.0777 low. However, sustained break of 1.1239 will also have 55 week EMA (1.1154) decisive taken out. That should confirm medium term bottoming, with bullish convergence condition in weekly MACD. Further rise could then be seen back to 38.2% retracement of 1.2555 to 1.0777 at 1.1456 next.