EUR/USD’s decline from 1.1239 resumed last week and reached as low as 1.0942. The strong break of 1.0981 support should confirm the bearish case. That is, corrective rise from 1.0879 has completed with three waves up to 1.1239. Initial bias stays on the downside this week for retesting 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.

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 1.1516) holds.

Daily Pivots: (S1) 1.0959; (P) 1.0986; (R1) 1.1009; More…

Intraday bias in EUR/USD remains on the downside as fall form 1.1239 is in progress. Corrective rebound from 1.0879 should have completed already. Deeper fall should be seen to retest 1.0879 low. On the upside, above 1.1013 minor resistance will turn intraday bias neutral first. But recovery should be limited below 1.1095 resistance to bring another fall.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.0959; (P) 1.0986; (R1) 1.1009; More…

EUR/USD’s break of 1.0992 indicates resumption of fall from 1.12390. Also, corrective rebound from 1.0879 should have completed already. Intraday bias stays on the downside for retesting 1.0879 low. On the upside, above 1.1013 minor resistance will turn intraday bias neutral first. But recovery should be limited below 1.1095 resistance to bring another fall.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.0979; (P) 1.1014; (R1) 1.1033; More…

Intraday bias in EUR/USD remains on the downside with focus on 1.0992 support. Decisive break there will resume the whole decline from 1.1239. Also, that would add to the case that corrective rebound from 1.0879 has completed at 1.1239. In this case, deeper decline would be seen back to retest 1.0879 low. On the upside, above 1.1033 minor resistance will turn intraday bias neutral first.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.0979; (P) 1.1014; (R1) 1.1033; More…

Focus stays on 1.0992 support in EUR/USD. Decisive break there will resume the whole decline from 1.1239. Also, that would add to the case that corrective rebound from 1.0879 has completed at 1.1239. In this case, deeper decline would be seen back to retest 1.0879 low. On the upside, break of 1.1095 will turn bias to the upside for 1.1172 resistance instead.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.1031; (P) 1.1047; (R1) 1.1062; More…

Focus is now back on 1.0992 support in EUR/USD with today’s decline. Break there will resume the whole decline from 1.1239. Also, that would add to the case that corrective rebound from 1.0879 has completed at 1.1239. In this case, deeper decline would be seen back to retest 1.0879 low. On the upside, break of 1.1095 will turn bias to the upside for 1.1172 resistance instead.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.1031; (P) 1.1047; (R1) 1.1062; More…

Intraday bias in EUR/USD remains mildly on the downside for 1.0922 support. Break there will turn near term outlook bearish for retest of 1.0879 low. On the upside, above 1.1095 will target 1.1172 resistance first. Price actions from 1.0879 are seen as a corrective pattern. We’ll waiting for more signal that it’s completed.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.1033; (P) 1.1064; (R1) 1.1092; More…

Intraday bias in EUR/USD is mildly on the downside for retesting 1.0922 support. Break there will turn near term outlook bearish for retest of 1.0879 low. On the upside, above 1.1095 will target 1.1172 resistance first. Price actions from 1.0879 are seen as a corrective pattern. We’ll waiting for more signal that it’s completed.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.1033; (P) 1.1064; (R1) 1.1092; More…

Break of 1.1056 minor support suggests that recovery from 1.0992 might have completed. Intraday bias is back on the downside for 1.0992 support. Break there will turn near term outlook bearish for retest of 1.0879 low. On the upside, above 1.1095 will target 1.1172 resistance first.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.1043; (P) 1.1069; (R1) 1.1121; More…

With 1.1056 minor support intact, further rise is in favor in EUR/USD. Pull back from 1.1239 could have completed with three waves down to 1.0992. Corrective rise from 1.0879 is probably not over. Further rise should be seen to 1.1172 resistance and then 1.1239. On the downside, below 1.1056 minor support will turn bias back to the downside for 1.0992 support instead.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.1043; (P) 1.1069; (R1) 1.1121; More…

Intraday bias in EUR/USD remains on the upside at this point. Pull back from 1.1239 could have completed with three waves down to 1.0992. Corrective rise from 1.0879 is probably not over. Further rise should be seen to 1.1172 resistance and then 1.1239. On the downside, below 1.1056 minor support will turn bias back to the downside for 1.0992 support instead.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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.

EUR/USD edged lower to 1.0992 but rebounded strongly ahead of 1.0981 support. Break of 1.1085 resistance suggests that fall form 1.1239 is a corrective pull back that has completed with three waves down to 1.0992. More importantly, rise from 1.0879 is probably not over. Initial bias is back on the upside this week for retest 1.1239. On the downside, below 1.1056 minor support will turn bias back to the downside for 1.0981 support instead.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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.

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 1.1537) holds.

Daily Pivots: (S1) 1.1012; (P) 1.1026; (R1) 1.1044; More…

Intraday bias in EUR/USD remains neutral first. Upside of recovery should be limited by 1.1085 support turned resistance. On the downside, decisive break of 1.0981 support should confirm completion of corrective rise from 1.0879 at 1.1239. Further fall should then be seen to retest 1.0879 low.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.1012; (P) 1.1026; (R1) 1.1044; More…

Intraday bias in EUR/USD remains neutral for consolidation above 1.0992 temporary low. Upside should be limited by 1.1085 support turned resistance. On the downside, decisive break of 1.0981 support should confirm completion of corrective rise from 1.0879 at 1.1239. Further fall should then be seen to retest 1.0879 low.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.0992; (P) 1.1010; (R1) 1.1027; More…

A temporary low is formed at 1.0992 in EUR/USD, ahead of 1.0981 support. Intraday bias is turned neutral for some consolidations first. Upside should be limited by 1.1085 support turned resistance. On the downside, decisive break of 1.0981 support should confirm completion of corrective rise from 1.0879 at 1.1239. Further fall should then be seen to retest 1.0879 low.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.0992; (P) 1.1010; (R1) 1.1027; More…

Downside momentum in EUR/USD is a bit unconvincing for the moment, as seen in 4 hour MACD. But further decline is still expected as long as 1.1085 support turned resistance holds. Decisive break of 1.0981 support should confirm completion of corrective rise from 1.0879 at 1.1239. Further fall should then be seen to retest 1.0879 low.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.1005; (P) 1.1015; (R1) 1.1032; More…

EUR/USD’s decline resumes after brief consolidation and intraday bias back on the downside for 1.0981 support. Decisive break there should confirm completion of corrective rise from 1.0879 at 1.1239. Further fall should then be seen to retest 1.0879 low. In any case, near term outlook will stay bearish as long as 1.1085 support turned resistance holds, in case of recovery.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.1005; (P) 1.1015; (R1) 1.1032; More…

A temporary low is in place at 1.0997 in EUR/USD and intraday bias is turned neutral first. Upside of consolidation should be limited by 1.1085 support turn resistance to bring another decline. On the downside, decisive break of 1.0981 support should confirm completion of corrective rise from 1.0879 at 1.1239. Further fall should then be seen to retest 1.0879 low.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.1007; (P) 1.1022; (R1) 1.1035; More…

EUR/USD’s fall from 1.1239 is in progress and intraday bias stays on the downside for 1.0981 support. Break there should confirm completion of corrective rise from 1.0879 at 1.1239. Further fall should then be seen to retest 1.0879 low. On the upside, above 1.1037 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.1172 resistance holds.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.1007; (P) 1.1022; (R1) 1.1035; More…

Intraday bias in EUR/USD remains on the downside as fall from 1.1239 is in progress for 1.0981 support. Break there should confirm completion of corrective rise from 1.0879 at 1.1239. Further fall should then be seen to retest 1.0879 low. On the upside, above 1.1061 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.1172 resistance holds.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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.