Daily Pivots: (S1) 1.0826; (P) 1.0839; (R1) 1.0848; More…

EUR/USD is losing some downside momentum but intraday bias stays on the downside for 161.8% projection of 1.1172 to 1.0992 from 1.1095 at 1.0804. Break there will target 200% projection at 1.0735 next. On the upside, above 1.0888 minor resistance will turn intraday bias neutral and bring consolidations first. But recovery should be limited by 1.0992 support turned resistance to bring fall resumption.

In the bigger picture, down trend from 1.2555 (2018 high) has just resumed and prior rejection by 55 week EMA affirms medium term bearishness. Sustained break of 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813 will pave the way to retest 1.0339 low. For now, outlook will remain bearish as long as 1.1239 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.1454; (P) 1.1494; (R1) 1.1556; More….

EUR/USD weakens notably after hitting 4 hour 55 EMA. But it’s staying above 1.1431 support. Intraday bias remains neutral first. Also, near term outlook will still remain mildly bearish as long as 1.1621 resistance holds. On the downside, break of 1.1431 will resume the fall form 1.1814 to retest 1.1300 low. Nonetheless, break of 1.1621 will turn focus back to 1.1814 instead.

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) 1.1819; (P) 1.1844; (R1) 1.1886; More…..

EUR/USD is staying in range of 1.1711/1965 despite today’s decline. Intraday bias remains neutral first and further rally might still be seen. Break of 1.1965 will resume whole rally from 1.0635. However, considering bearish divergence condition in 4 hour MACD, break of 1.1711 should confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.1546).

In the bigger picture, down trend from 1.2555 (2018 high) has completed at 1.0635 already. Rise form 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 1.17114 support holds.

Daily Pivots: (S1) 1.1225; (P) 1.1241; (R1) 1.1262; More…..

Intraday bias in EUR/USD remains neutral as consolidation from 1.1176 is in progress. Stronger recovery cannot be ruled out. But upside should be limited well below 1.1419 resistance to bring fall resumption. On the downside, break of 1.1176 will extend the down trend from 1.2555 and target 100% projection of 1.1814 to 1.1215 from 1.1569 at 1.0970 next.

In the bigger picture, down trend from 1.2555 medium term top is still in progress. Bearishness is affirmed by sustained trading below falling 55 week EMA. 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 is met. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1569 resistance will now indicate completion of such down trend and turn medium term outlook bullish.

Daily Pivots: (S1) 1.1185; (P) 1.1218 (R1) 1.1242; More….

Intraday bias in EUR/USD remains neutral as consolidation from 1.1267 is still in progress. We’d stay cautious on strong resistance from 1.1245/98 (138.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245) resistance zone to limit upside and bring reversal. But decisive break of 1.1298 will carry larger bullish implication and target 1.1615 resistance next. On the downside, though, break of 1.1020 resistance turned support will indicate rejection from 1.1245/98 and turn bias to the downside for 1.0838 support first.

In the bigger picture, the case for medium term reversal continues to build up with EUR/USD now far above 55 week EMA. Also, bullish convergence condition is seen in weekly MACD. Focus will now be on 1.1298 key resistance. Rejection from there will maintain medium term bearishness and would extend the whole down trend from 1.6039 (2008 high). However, firm break of 1.1298 will indicate reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

Daily Pivots: (S1) 1.1412; (P) 1.1498; (R1) 1.1550; More…..

At this point, EUR/USD is staying in range of 1.1270/1485 and intraday bias remains neutral. On the upside, break of 1.1485 resistance will revive the case of near term reversal, on bullish convergence condition in daily MACD. Bias will be turned back to the upside for 1.1621 resistance first. Break will target 1.1814 key resistance next. On the downside, break of 1.1270 will, instead, revive the bearish case that down trend from 1.2555 is still in progress. Bias will be turned back to the downside for 1.1186 key fibonacci level.

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) 1.0638; (P) 1.0667; (R1) 1.0711; More…

At this point, the favored case is still that correction from 1.1032 has completed at 1.0532 already. Further rise is expected to 1.0803 resistance first. However, on the downside, break of 1.0575 support will dampen this bullish view again and turn bias back to the downside.

In the bigger picture, as long as 1.0482 support holds, rise from 0.9534 (2022 low) should continue to 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. However, sustained break of 1.0482 will bring deeper fall to 61.8% retracement of 0.9534 to 1.1032 at 1.0106, even as a corrective pull back.

Daily Pivots: (S1) 1.1702; (P) 1.1738 (R1) 1.1780; More…

No change in EUR/USD’s outlook. With 1.1832 minor resistance intact, deeper decline is expected. Fall from 1.2091 would extend through 1.1661 support. Decline from 1.2091 is correcting whole rise from 1.0569. Deeper fall should be seen to 38.2% retracement of 1.0569 to 1.2091 at 1.1510, where we’re expecting support to bring rebound. On the upside, break of 1.1832 minor resistance will suggest that the corrective fall is completed and turn bias back to the upside.

In the bigger picture, rise from medium term bottom at 1.0339 is not finished yet. It’s expected to continue after pull back from 1.2091 completes. And, next target will be 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. However, it should be noted that there is no confirmation of trend reversal yet. That is, such rebound from 1.0399 could be a correction. And the long term fall from 1.6039 (2008 high) could resume. Hence, we’d be cautious on strong resistance from 1.2516 to limit upside.

Daily Pivots: (S1) 1.0449; (P) 1.0551 (R1) 1.0620; More…..

EUR/USD drops sharply today and focus is back on 1.0351 low. Break will resume the larger down trend and target parity next. In case of another recovery, we’d expect upside to be limited by 1.0669 resistance and bring down trend resumption. However, firm break of 1.0669 will argue that stronger recovery is underway back to 1.0872 resistance instead.

In the bigger picture, break of 1.0461 key support indicates that consolidation from there has completed as a triangle at 1.1298. And, the down trend from 1.6039 (2008 high) is resuming. Current downtrend is now expected to target 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.

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Daily Pivots: (S1) 1.0813; (P) 1.0827; (R1) 1.0854; More….

Despite some loss off upside momentum as seen in 4H MACD, intraday bias in EUR/SD stays on the upside with 1.0783 minor support intact. Rise from 1.0665 would target 1.0915 resistance first. Firm break there will target 100% projection of 1.0601 to 1.0915 from 1.0665 at 1.0919 next. On the downside, below 1.0783 minor support will turn intraday bias neutral first.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern that’s still in progress. Break of 1.0601 will target 1.0447 support and possibly below. On the upside, firm break of 1.0915 resistance will start another rising leg back to 1.1138 resistance instead.

Daily Pivots: (S1) 1.1762; (P) 1.1784; (R1) 1.1815; More…

EUR/USD continues to lose downside momentum as seen in 4 hour MACD. But further decline is expected as long as 1.1880 resistance holds. Decline from 1.2265, as the third leg of correction from 1.2348, would target 1.1703 support. On the upside, though, break of 1.1880 will indicate short term bottoming and turn bias back to the upside for stronger rebound to 1.1974 resistance first.

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. However sustained break of 1.1602 will argue that the rise from 1.0635 is over, and turn medium term outlook bearish again.

Daily Pivots: (S1) 1.1318; (P) 1.1343; (R1) 1.1384; More…

Intraday bias in EUR/USD remains neutral at this point. With 1.1265 minor support intact, further rally will remain mildly in favor. On the upside break of 1.1482 will target 38.2% retracement of 1.2348 to 1.1120 at 1.1589 next. Sustained break there will argue that whole fall from 1.2348 has completed too and target 61.8% retracement at 1.1879. On the downside, however, break of 1.1265 support will dampen this bullish view and bring retest of 1.1120 low instead.

In the bigger picture, the decline from 1.2348 (2021 high) is seen as a leg inside the range pattern from 1.2555 (2018 high). Sustained trading above 55 week EMA (now at 1.1613) will argue that it has completed and stronger rise would be seen back towards top of the range between 1.2348 and 1.2555. However, firm break of 1.0635 (2020 low) will raise the chance of long term down trend resumption and target a retest on 1.0339 (2017 low) next.

Daily Pivots: (S1) 1.0561; (P) 1.0612; (R1) 1.0639; More…

Intraday bias in EUR/USD remains neutral at this point. 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) 1.0491; (P) 1.0548 (R1) 1.0627; More…

EUR/USD is bounded in range of 1.0358/0786 and intraday bias remains neutral. Further fall is in favor with 1.0786 resistance intact. On the downside, sustained break of 1.0339/48 will resume larger down trend. Next target is long term projection level at 1.0090.

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 stronger rebound first.

Daily Pivots: (S1) 1.0883; (P) 1.0906; (R1) 1.0929; More…

Intraday bias in EUR/USD remains neutral as consolidation from 1.0964 is still in progress. Further rally is in favor as long as 1.0823 support holds. Sustained break of 61.8% retracement of 1.1274 to 1.0447 at 1.0958 will resume the rise from 1.0447 to retest 1.1274 high. However, firm break of 1.0823 will indicate short term topping, and turn bias back to the downside for deeper decline.

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.

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) 1.0812; (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) 1.1284; (P) 1.1313; (R1) 1.1338; More…..

EUR?USD’s break of 1.1316 support indicate completion of rebound from 1.1234. Intraday bias is turned to the downside for retesting 1.1215 low. Decisive break there will resume larger down trend from 1.2555. On the upside, above 1.1345 minor resistance will turn bias to the upside for 1.1419 resistance to extend the consolidation from 1.1215.

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) 1.2069; (P) 1.2131; (R1) 1.2169; More…

Intraday bias in EUR/USD remains mildly on the downside, as fall from 1.2265 could extend lower for 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. On the upside, above 1.2217 minor resistance will turn bias back to the upside for 1.2265 and above.

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) 1.0920; (P) 1.0941; (R1) 1.0971; More…

EUR/USD is losing some downside momentum as seen in 4H MACD. But further decline is still expected with 1.1046 resistance intact. Current fall from 1.1274 would target 1.0832 support. Sustained trading below there will target 1.0609/34 cluster support. On the upside, however, break of 1.1046 resistance will turn bias back to the upside for stronger rebound instead.

In the bigger picture, a medium term top could be formed at 1.1274, after failing to break through 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 decisively, on bearish divergence condition in D MACD. Sustained trading below 55 D EMA (now at 1.0963) will bring deeper correction to 1.0634 cluster support (38.2% retracement of 0.9534 to 1.1274 at 1.0609). Strong support could be seen there, at least on first attempt, to set the range for consolidation.