Daily Pivots: (S1) 1.0481; (P) 1.0530 (R1) 1.0567; More…

EUR/USD is still bounded in consolidation from 1.0470 and intraday bias remains neutral. Upside of recovery should be limited by 1.0756 support turned resistance to bring fall resumption. Break of 1.0470 will resume larger down trend and target 161.8% projection of 1.1494 to 1.0805 from 1.1184 at 1.0069.

In the bigger picture, the decline from 1.2348 (2021 high) is expected to continue as long as 1.1185 support turned resistance holds. The break of 1.0635 (2020 low) now raises the chance that it’s resuming long term down trend from 1.6039 (2008 high). Retest of 1.0339 (2017 low) low should be seen next. Decisive break there will confirm this bearish case.

Daily Pivots: (S1) 1.1985; (P) 1.2006; (R1) 1.2026; More….

Intraday bias in EUR/USD remains neutral and outlook is unchanged. We’d still expect strong support from 38.2% retracement of 1.1703 to 1.2149 at 1.1979 to complete the pull back from 1.2149. On the upside, 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 61.8% retracement at 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) 0.9907; (P) 0.9962; (R1) 1.0024; More…

Intraday bias in EUR/USD remains neutral for consolidation above 0.9899 temporary low. Upside of recovery should be limited by 1.0121 minor resistance to bring another fall. Break of 0.9899 will resume larger down trend to 61.8% projection of 1.0773 to 0.9951 from 1.0368 at 0.9860. Firm break there should prompt downside acceleration to 100% projection at 0.9546.

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, in case of strong rebound.

Daily Pivots: (S1) 1.1226; (P) 1.1250; (R1) 1.1275; More…

EUR/USD’s down trend is still in progress and intraday bias remains on the downside. Further fall should be seen to 161.8% projection of 1.1908 to 1.1523 from 1.1691 at 1.1068 next. On the upside, break of 1.1373 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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) 1.1084; (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) 1.0812; (P) 1.0864; (R1) 1.0906; More…

EUR/USD’s breach of 1.0843 temporary low suggests that fall from 1.1138 is resuming. Intraday bias is back on the downside for 1.0722 support first. Decisive break there will argue that whole rise from 1.0447 has completed, and target this low. Nevertheless, on the upside, firm break of 1.0915 will indicate short term bottoming, on bullish convergence condition in 4H MACD, and turn bias back to the upside for stronger rebound.

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) 1.0406; (P) 1.0435 (R1) 1.0452; More…

EUR/USD’s down trend continues today and intraday bias stays on the downside for 1.0090 long term projection level. Break there will target 100% projection of 1.1184 to 1.0348 from 1.0773 at 0.9937, which is close to parity. On the upside, above 1.0276 minor resistance will turn intraday bias neutral and bring consolidations first. But recovery should be limited below 1.0614 resistance to bring another fall.

In the bigger picture, the break of 1.0339 long term support (2017 low) indicates resumption of 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. Sustained break there will pave the way to 100% projection at 0.8694. In any case, outlook will stay bearish as long as 1.0786 resistance holds, in case of recovery.

Daily Pivots: (S1) 1.2204; (P) 1.2305 (R1) 1.2364; More….

EUR/USD’s decline continues today and the breaching of 1.2222 support now raise the chance of rejection from 1.2494/2516 key fibonacci level. Sustained trading below 1.2222 should at least confirm near term reversal on , on bearish divergence condition in 4 hour MACD. That could also signal completion of medium term up trend from 1.0339. In that case, near term outlook will be turned bearish for 1.2091 resistance turned support first. On the upside, though, above 1.2403 minor resistance will revive bullishness and turn focus back to 1.2537.

In the bigger picture, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. But key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 is looking vulnerable. Sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862. Nonetheless, rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive.

Daily Pivots: (S1) 1.1044; (P) 1.1092; (R1) 1.1180; More…

EUR/USD’s rally continues today and intraday bias stays on the upside at this point. Current up trend should target 1.1273 fibonacci level next. On the downside, below 1.1012 minor support will turn intraday bias neutral and bring consolidations first, before staging another rise.

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) 1.0731; (P) 1.0780 (R1) 1.0804; More…..

Intraday bias in EUR/USD remains neutral as it’s staying in tight range below 1.0828 temporary top. Another rise cannot be ruled out yet. However, choppy rise from 1.0339 is viewed as a corrective move. Hence, we’d expect upside to be limited by 1.0872 resistance and bring reversal. On the downside, break of 1.0619 will indicate that such rise is completed and turn bias to the downside for retesting 1.0339 low.

In the bigger picture, whole down trend from 1.6039 (2008 high) is in progress. Such down trend is expected to extend to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. On the upside, break of 1.1298 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

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) 1.1179; (P) 1.1201; (R1) 1.1223; More…

No change in EUR/USD’s outlook and intraday bias remains neutral. With 1.1282 intact, further decline is expected. Break of 1.1133 minor support will turn intraday bias back to the downside for 1.1026. Break of 1.1026 will extend the downtrend from 1.2555. Though, break of 1.1282 will turn focus back to 1.1412 resistance next.

In the bigger picture, current development suggests that down trend from 1.2555 (2018) 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.

EUR/USD edged lower to 1.0601 last week but turned sideway since then. Initial bias remains neutral this week for consolidations. Upside should be limited by 1.0723 support turned resistance. Break of 1.0601 will resume the fall from 1.1138t o 100% projection of 1.1138 to 1.0694 from 1.0980 at 1.0536 next.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Current fall from 1.1138 is seen as the third leg. While deeper decline is would be seen to 1.0447 and possibly below, Strong support should emerge from 61.8% retracement of 0.9534 to 1.1274 at 1.0199 to complete the correction.

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 1.1036) and break of 1.1274 resistance will raise the chance of reversal and target 1.2348 resistance for confirmation.

Daily Pivots: (S1) 1.0750; (P) 1.0770; (R1) 1.0797; More…

Intraday bias in EUR/USD remains neutral and outlook is unchanged. On the downside, decisive break of 1.0722 will argue that whole rise from 1.0447 has completed. Deeper fall would then be seen to target this low. On the upside, break of 1.0896 resistance is needed to indicate short term bottoming. Otherwise, risk will stay on the downside in case of recovery.

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 possibly below.

EUR/USD continued stay in sideway trading last week and outlook is unchanged. Initial bias remains neutral this week and more sideway trading could be seen. On the downside, break of 1.1168 will target 38.2% retracement of 1.0635 to 1.1422 at 1.1121. Sustained break there will argue that whole rebound from 1.0635 has completed and bring deeper fall to 61.8% retracement at 1.0936. On the upside, break of 1.1348 will likely resume the rise from 1.0635 through 1.1422 to 1.1496 key resistance.

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) 1.1189; (P) 1.1235; (R1) 1.1268; More…

EUR/USD is staying in range of 1.1193/1285 and intraday bias remains neutral for now. On the downside, break of 1.1193 will resume the fall from 1.1412 to retest 1.1107 low. On the upside, above 1.1285 resistance will turn bias back to the upside for 1.1412 resistance.

In the bigger picture, on the one hand, 1.1107 is seen as a medium term bottom on bullish convergence condition in weekly MACD. On the other hand, rejection by 55 week EMA retains medium term bearishness. Outlook stays neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

Daily Pivots: (S1) 1.0120; (P) 1.0194; (R1) 1.0233; More…

EUR/USD’s break of 1.0201 minor support suggests that rebound from 0.9951 has completed at 1.0368 already. That came after rejection by 55 day EMA, as well as falling channel resistance. Intraday bias is back on the downside for retesting 0.9951 low. Firm break there will resume larger down trend. For now, risk will stay on the downside as long as 1.0368 resistance holds, in case of recovery.

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) 1.0892; (P) 1.0919; (R1) 1.0945; More…

EUR/USD is extending the consolidation from 1.0969 temporary top and intraday bias remains neutral. With 1.0803 support intact, further rally is expected. On the upside, above 1.0969 will resume the rise from 1.0634 to retest 1.1094 high. Decisive break there will confirm resumption of whole up trend from 0.9534. However, firm break of 1.0803 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) 1.0597; (P) 1.0615 (R1) 1.0627; More…..

EUR/USD drops sharply today but stays above 1.0520 temporary low. Intraday bias remains neutral first and outlook is unchanged. With 1.0713 minor resistance intact, we’re holding on to our bearish view. That is, corrective rise from 1.0339 has completed at 1.0828 already. Below 1.0520 will target 1.0339 first. Break will extend the larger down trend to parity. However, above 1.0713 will dampen our view and turn focus back to 1.0828 instead.

In the bigger picture, whole down trend from 1.6039 (2008 high) is in progress. Such down trend is expected to extend to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. On the upside, break of 1.1298 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

Daily Pivots: (S1) 1.1047; (P) 1.1077; (R1) 1.1115; More…

EUR/USD falls sharply after rejection by 1.1146 resistance and immediate focus is now on 1.1011 resistance turned support. Decisive break there will argue that larger correction is underway. Deeper fall would then be seen to 1.0832 support next. Nevertheless, rebound from current level, followed by firm break of 1.1146, will bring retest of 1.1274 high instead.

In the bigger picture, rise from 0.9534 is still expected to continue as long as 1.1011 resistance turned support holds. Decisive 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. However, firm break of 1.1011 will indicate rejection by 1.1273 and raise the chance of reversal. Deeper fall would be seen back to 1.0634 support first.