Daily Pivots: (S1) 1.0872; (P) 1.0891; (R1) 1.0902; More…

EUR/USD dips notably today but stays above 1.0843 support. Intraday bias remains neutral and more consolidations could be seen. Further decline is expected as long as 1.0995 resistance holds. Below 1.0843 will target 1.0722 support next. Decisive break there will argue that whole rise from 1.0447 has completed, and target this 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 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.

Daily Pivots: (S1) 1.1261; (P) 1.1286; (R1) 1.1303; More…

EUR/USD is losing some downside momentum as seen in 4 hour MACD. But further decline remains in favor with 1.1344 minor resistance intact. Recovery from 1.1107 might have completed earlier than expected at 1.1412. Break of 1.1181 support will confirm and bring retest of 1.1107 low. Though, above 1.1344 minor resistance will turn bias back to the upside to resume the rebound from 1.1107 through 1.1412 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. In any case, risk will stay mildly on the upside as long as 1.1107 low remains intact.

Daily Pivots: (S1) 1.0832; (P) 1.0865; (R1) 1.0885; More…..

No change in EUR/USD’s outlook and intraday bias stays on the downside. Fall from 1.0947 short term top should extend to 55 D EMA (now at 1.0813). Sustained break there will argue that whole rebound from 1.0601 has completed with three waves up to 1.0947, and target 1.0601/0665 support zone. On the upside, above 1.0896 minor resistance will turn intraday bias neutral first. But, risk will stay on the downside as long as 1.0947 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern that’s still be in progress. Break of 1.1138 resistance will be the first signal that rise from 0.9534 (2022 low) is ready to resume through 1.1274 (2023 high). However, break of 1.0665 support will extend the correction with another falling leg back towards 1.0447 support.

Daily Pivots: (S1) 1.1264; (P) 1.1306; (R1) 1.1329; More……

EUR/USD is staying in tight range below 1.1347 temporary top and intraday bias remains neutral first. With 1.1251 minor support intact, further rise is mildly in favor. On the upside, above 1.1347 will target 1.1448 key resistance next. Decisive break there will carry larger bullish implications. On the downside, break of 1.1251 minor support will suggest that recovery from 1.1107 has completed. Intraday bias will be turned back to the downside for retesting 1.1107 low.

In the bigger picture, current development argues that a medium term bottom could be in place at 1.1107, on bullish convergence condition in daily MACD. Decisive break of 1.1448 resistance would confirm this case. And stronger rebound would be seen to 38.2% retracement of 1.2555 to 1.1107 at 1.1660. At this point, it’s early to judge whether rise from 1.1107 is a corrective move or the start of an medium term up trend. We’d look at the structure of the rebound to decide later. But in any case, for now, risk will remain on the upside as long as 1.1107 low holds.

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

Further rally is expected in EUR/USD with 1.0732 minor support intact. Sustained trading above 55 EMA (now at 1.0810) will extend the rise from 1.0634 to retest 1.1094 high. Nevertheless, break of 1.0732 minor support should resume the fall from 1.1094 through 1.0634 support.

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) 1.1757; (P) 1.1786 (R1) 1.1800; More….

EUR/USD’s fall from 1.1960 extends to as low as 1.1742 so far. With 1.1712 support intact, we’re still treating it as a correction. Intraday bias stays neutral first. On the upside, above 1.1847 minor resistance will turn bias back to the upside for 1.1960 first. Break will resume whole rise from 1.1553 and target 1.2091 high. However, decisive break of 1.1712 will indicate completion of the rise from 1.1553 and turn near term outlook bearish for this support.

In the bigger picture, rise from 1.0339 medium term bottom is seen as a corrective move for the moment. Therefore, in case of another rally, we’d be expect 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 to limit upside and bring reversal. Meanwhile, sustained trading below 55 week EMA (now at 1.1393) will suggest that such medium term rebound is completed and could then bring retest of 1.0339 low.

Daily Pivots: (S1) 1.2208; (P) 1.2246 (R1) 1.2297; More….

Intraday bias in EUR/USD remains neutral at this point and more consolidations could be seen. As long as 1.2088 resistance turned support stays intact, near term outlook remains bullish. Current medium term rally would target 1.2494/2516 key resistance zone next. At this point, we’d expect strong resistance from there to limit upside and bring reversal. On the downside, break of 1.2088 will argue that EUR/USD has topped earlier than expected. In that case, intraday bias will be turned to the downside for 1.1915 support first.

In the bigger picture, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Therefore, in case of another rally, we’d be expect 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 to limit upside and bring reversal. That is also close to 61.8% projection of 1.0569 to 1.2091 from 1.1553 at 1.2494. Break of 1.1553 support will confirm completion of the rise. However, sustained break of 1.2516 will carry larger bullish implication and target 38.2% retracement of 1.6039 to 1.0339 at 1.3862.

Daily Pivots: (S1) 1.0669; (P) 1.0711 (R1) 1.0737; More…

Intraday bias in EUR/USD remains neutral for the moment. On the downside, break of 1.0626 minor support will indicate rejection by 55 day EMA, and turn bias back to the downside for retesting 1.0348. On the upside, break of 1.0786, and sustained trading above 55 day EMA (now at 1.0757) will target 1.0935 resistance next.

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 medium term corrective rebound first.

Daily Pivots: (S1) 1.0837; (P) 1.0882; (R1) 1.0917; More…

No change in EUR/USD’s outlook and further rise is expected with 1.0765 support intact. Current rise from 0.9534 should target 61.8% projection of 0.9630 to 1.0733 from 1.0482 at 1.1164 next. On the downside, though, break of 1.0765 support should now indicate short term topping, and turn bias back to the downside for 55 day EMA (now at 1.0557).

In the bigger picture, current development suggests that the rally from 0.9534 low (2022 low) is a medium term up trend rather than a correction. Further rise is in favor to 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 next. This will remain the favored case as long as 1.0482 support holds.

Daily Pivots: (S1) 1.0752; (P) 1.0820; (R1) 1.0947; More…

With 1.0824 minor support intact, intraday bias in EUR/USD remains on the upside despite current retreat. Rise from 1.0447 should extend to 61.8% retracement of 1.1274 to 1.0447 at 1.0958 next. On the downside, below 1.0824 minor support will turn intraday bias neutral and bring consolidations first. But downside should be contained well above 1.0655 support to bring another rally.

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. However, break of 1.0447 will resume the fall to 61.8% retracement of 0.9543 to 1.1274 at 1.0199.

Daily Pivots: (S1) 1.0067; (P) 1.0159; (R1) 1.0209; More…

EUR/USD is staying range above 1.0118 minor support and intraday bias stays neutral first. On the downside, firm break of 1.0118 will suggest that rebound from 0.9951 has completed. Bias will be back on the downside for retesting 0.9951 low. On the upside, above 1.0277 will resume the rebound to 1.0348 support turned resistance.

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 strong rebound.

Daily Pivots: (S1) 1.0950; (P) 1.1005; (R1) 1.1047; More…

Intraday bias in EUR/USD remains on the downside for the moment. Current decline should target 100% projection of 1.1412 to 1.1026 from 1.1249 at 1.0683 next. On the upside, above 1.1049 minor resistance will turn intraday bias neutral and bring consolidations again first. But recovery should be limited well below 1.1249 resistance to bring fall resumption.

In the bigger picture, down trend from 1.2555 (2018 high) is in progress and extending. Prior rejection of 55 week EMA also maintained bearishness. Further fall should be seen to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Decisive break there will target 1.0339 (2017 low). On the upside, break of 1.1412 resistance is needed to indicate medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.1424; (P) 1.1476; (R1) 1.1502; More…..

EUR/USD’s fall from 1.1621 continues today and intraday bias remains on the downside for 1.1431. Break there will resume whole decline from 1.1814 and target 1.1300 low. On the upside, above 1.1527 minor resistance will turn intraday bias neutral first. But near term outlook will remain mildly bearish as long as 1.1621 resistance holds.

In the bigger picture, corrective pattern from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300 at 1.1779. Decisive break of 1.1300 will resume the down trend from 1.2555 to 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. On the upside, break of 1.1814 will delay the bearish case and extend the correction from 1.1300 with another rise before completion.

Daily Pivots: (S1) 1.0259; (P) 1.0283; (R1) 1.0328; More…

Intraday bias in EUR/USD stays neutral for the moment, and more consolidations could be seen. After all, as long as 1.0092 resistance turned support holds, further rally is still expected. On the upside, break of 1.0481 will resume the rise from 0.9534 and target 1.0609 fibonacci level. However, sustained break of 1.0092 will turn bias to the downside for 55 day EMA (now at 1.0052) and below.

In the bigger picture, a medium term bottom was in place at 0.9534, on bullish convergence condition in daily MACD. Even as a corrective rise, rally from 0.9534 should target 38.2% retracement of 1.2348 (2021 high) to 0.9534 at 1.0609. Sustained trading above 55 week EMA (now at 1.0566) will raise the chance of trend reversal and target 61.8% retracement at 1.1273. This will now remain the favored case as long as 1.0092 resistance turned support holds.

Daily Pivots: (S1) 1.0995; (P) 1.1007; (R1) 1.1020; More…

Intraday bias in EUR/USD remains on the downside with 1.1043 minor resistance intact. Corrective rebound from 1.0879 should have completed at 1.1175 already. Deeper decline would be seen to retest 1.0879 low. Break will resume larger down trend from 1.2555. On the upside, above 1.1043 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.1175 resistance holds.

In the bigger picture, at this point, 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) 1.1080; (P) 1.1110; (R1) 1.1155; More…

Intraday bias in EUR/USD remains on the upside for the moment. Prior break of 1.1109 resistance is taken as first sign of medium term bottoming at 1.0879. Further rise would be seen to 1.1412 key resistance. On the downside, break of 1.1085 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, down trend from 1.2555 (2018 high) is in progress. Prior rejection of 55 week EMA also maintained bearishness. Further fall should be seen to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Decisive break there will target 1.0339 (2017 low). On the upside, break of 1.1412 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.1194; (P) 1.1222; (R1) 1.1241; More…..

Intraday bias in EUR/USD remains on the downside at this point. Fall from 1.1448 is in progress for 1.1176 low. Firm break there will resume whole decline from 1.2555. On the upside, however, break of 1.1273 support turned resistance will turn bias back to the upside for 1.1448 instead.

In the bigger picture, medium term weakness was revived as the weak rebound from 1.1176 was rejected well below 55 week EMA and failed to sustain above 55 day EMA. Focus is back on 1.1176 low, with 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186. Decisive break there will resume whole down trend from 1.2555. Such decline target 1.0339 low next. On the upside, firm break of 1.1569 resistance is needed to be the first sign of medium term bottoming. Otherwise, downside breakout will be in favor.

Daily Pivots: (S1) 1.2183; (P) 1.2206; (R1) 1.2240; More….

Intraday bias in EUR/USD remains neutral as consolidation from 1.2244 continues. Further rise is expected with 1.2050 support intact. On the upside, break of 1.2244 will resume the rise from 1.1703 to retest 1.2348 high. However, break of 1.2050 will delay the bullish case. Intraday bias will be turned back to the downside to extend the consolidation pattern from 1.2348 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 1.1602 support holds. Reaction from 1.2555 should reveal underlying long term momentum in the pair.

Daily Pivots: (S1) 1.0808; (P) 1.0867; (R1) 1.0950; More…

No change in EUR/USD’s outlook for the moment. Further rise remains mildly in favor. Rise from 1.0768 could be the third leg of the corrective pattern from 1.0635 and would target 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0768 will resume the fall to retest 1.0635 low instead.

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.

Daily Pivots: (S1) 1.0897; (P) 1.0911; (R1) 1.0931; More…

EUR/USD is losing some downside momentum as seen in 4 hour MACD. But intraday bias remains on the downside for 1.0879 low. Firm break there will resume larger down trend for 1.0813 fibonacci level next. On the upside, above 1.0957 minor resistance will turn intraday bias neutral first. But recovery should be limited by 1.0992 support turned 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.