Daily Pivots: (S1) 1.0789; (P) 1.0812; (R1) 1.0856; More…

Intraday bias in EUR/USD remains neutral at this point. Overall, consolidation from 1.0635 is still extending. Above 1.0899 minor resistance will bring another rise to 1.1019 resistance and above. But upside should be by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0727 will bring retest of 1.0635 low next.

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) 1.0120; (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) 1.0744; (P) 1.0762; (R1) 1.0781; More…

Intraday bias in EUR/USD is turned neutral with a temporary low formed at 1.0722. Further decline is expected with 1.0816 minor resistance intact. Break of 1.0722, and sustained trading below 55 D EMA (now at 1.0770) will extend the fall from 1.1016 short term top to retest 1.0447 support. However, on the upside, above 1.0816 minor resistance will turn intraday 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 55 D EMA will argue that the third leg has already started for 1.0447 and below.

Daily Pivots: (S1) 1.1136; (P) 1.1136; (R1) 1.1191; More…..

Intraday bias in EUR/USD remains neutral as consolidation from 1.1111 is still in progress. In case of another rise, upside should be should be limited by 1.1263 resistance to bring down trend resumption. On the downside, firm break of 1.1107 will target 100% projection of 1.1448 to 1.1183 from 1.1324 at 1.1059. However, sustained break of 1.1263 resistance will now be an early sign of trend reversal and turn bias to the upside for 1.1448 key resistance.

In the bigger picture, down trend from 1.2555 (2018 high) is still in progress. Such decline would target 78.6% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.0813 next. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1448 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.1204; (P) 1.1233; (R1) 1.1253; More…..

EUR/USD is losing downside momentum as seen in 4 hour MACD. But with 1.1285 minor resistance intact further decline is in favor for 1.1176 support. Decisive break there will resume whole decline from 1.2555. On the upside, however, break of 1.1285 minor resistance will turn bias back to the upside for 1.1448 instead.

In the bigger picture, medium term outlooks is a bit mixed for now as there are conflicting signals. We’ll turn neutral first. On the downside, decisive break of 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186 will resume the whole down trend from 1.2555. Next target will be 1.0339 low. Nevertheless, break of 1.1569 resistance should confirm medium term bottoming. Stronger rebound should be seen back to 38.2% retracement of 1.2555 to 1.1176 at 1.1703. In that case, the structure of the rise from 1.1176 and reaction to 1.1703 fibonacci level will be watched for making an assessment on whether medium term trend has reversed, or rebound form 1.1176 is merely a correction.

Daily Pivots: (S1) 1.1703; (P) 1.1763 (R1) 1.1813; More…

Break of 1.1747 indicates resumption of pull back from 1.1908 short term top. Intraday bias is back on the downside for 38.2% retracement of 1.1119 to 1.1908 at 1.1606. At this point, we’d expect strong support from there to bring rebound. But break of 1.1908 is needed to confirm up trend resumption. Otherwise, more consolidation would be seen in near term. Meanwhile, sustained break of 1.1606 would bring deeper pull back to 61.8% retracement at 1.1420.

In the bigger picture, an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Sustained break of 55 month EMA (now at 1.1760) will pave the way to key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. While rise from 1.0339 is strong, there is no confirmation that it’s developing into a long term up trend yet. Hence, we’ll be cautious on strong resistance from 1.2516 to limit upside. But for now, medium term outlook will remain bullish as long as 1.1295 support holds, in case of pull back.

Daily Pivots: (S1) 0.9961; (P) 0.9999; (R1) 1.0053; More…

Intraday bias in EUR/USD stays neutral as range trading continues. Outlook also remains bearish. On the downside, firm break of 0.9863 support will resume larger down trend. On the upside, break of 1.0197 resistance will now raise the chance of larger trend reversal, and target 1.0368 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 1.0368 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.1741; (P) 1.1758; (R1) 1.1790; More…

Intraday bias in EUR/USD remains neutral at this point. With 1.1804 resistance intact, another fall cannot be ruled out yet. But we’d continue to look for strong support from 1.1602/1703 key support zone to bring rebound. On the upside, above 1.1804 resistance will turn bias back to the upside for 1.1907 resistance first. However, sustained break of 1.1602/1703 will carry larger bearish implication and pave the way to 1.1289 fibonacci 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 remains in favors long as 1.1602 support holds, to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). However sustained break of 1.1602 will argue that the rise from 1.0635 is over, and turn medium term outlook bearish again. Deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289 and below.

Daily Pivots: (S1) 1.1241; (P) 1.1264; (R1) 1.1278; More…..

EUR/USD’s rise from 1.1183 short term bottom extends to as high as 1.1324 so far today. Intraday bias remains on the upside for 1.1448 resistance, and above. For now, we’d expect strong resistance between 1.1448/1569 to limit upside. On the downside, below 1.1250 minor support will turn bias to the downside. Decisive break of 1.1176 will resume the down trend from 1.2555.

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) 1.0836; (P) 1.0888; (R1) 1.0917; More…

EUR/USD dipped to 1.0834 earlier today but quickly recovered. It’s still trying to defend 55 D EMA. Intraday bias stays neutral first. On the upside, break of 1.1011 will resume the rise from 1.0634 and target 1.1094 resistance. Decisive break there will resume larger up trend from 0.9534. However, firm break of 1.0834 will turn bias to the downside for 1.0634 support instead.

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) 1.1010; (P) 1.1036; (R1) 1.1051; More…

Intraday bias in EUR/USD remains on the downside at this point. Corrective rise from 1.0879 should have completed at 1.1239 already. Further fall should be seen to 1.0981 support. break will confirm this bearish view and target a retest on 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.

Daily Pivots: (S1) 1.0888; (P) 1.0927; (R1) 1.0960; More…

Intraday bias in EUR/USD stays on the downside at this point. Fall from 1.1138 short term top is in progress for 1.0772 support. Sustained break there will argue that whole rise from 1.0447 has completed, and break deeper fall back to this support. On the upside, however, break of 1.1014 minor resistance will turn bias back to the upside for retesting 1.1138 instead.

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) 1.1502; (P) 1.1596; (R1) 1.1657; More…

Intraday bias in EUR/USD stays mildly on the downside for 1.1523 support first. Break there will resume the fall from 1.2265, and that from 1.2348 too, for long term fibonacci level at 1.1289 next. For now, further decline is expected as long as 1.1691 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.2348 should at least be a correction to rise from 1.0635 (2020 low). As long as 1.1908 resistance holds, deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289. Nevertheless break of 1.1908 resistance will revive medium term bullishness and turn focus back to 1.2348 high.

Daily Pivots: (S1) 1.1248; (P) 1.1277; (R1) 1.1321; More…..

Intraday bias in EUR/USD remains neutral for consolidation above 1.1234 temporary low. Further decline is expected as long as 1.1341 resistance holds. Decisive break of 1.1215 low will resume the larger down trend from 1.2555 to 1.1186 fibonacci level next. Nevertheless, break of 1.1341 will suggests that consolidation from 1.1215 is extending with another rising leg back towards 1.1514 resistance.

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.

EUR/USD turned sideway after edging higher to 1.0755 last week. Initial bias remains neutral this week first. On the upside, decisive break of 1.0764 cluster resistance (38.2% retracement of 1.1274 to 1.0447 at 1.0763) will extend the rise from 1.0447 to 61.8% retracement at 1.0958 next. However, sustained break of 55 4H EMA (now at 1.0663) will argue that the rebound has completed, and turn bias back to the downside for 1.0447/0515 support zone instead.

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.

In the long term picture, a long term bottom is in place at 0.9534 on bullish convergence condition in M MACD. But momentum of the rebound argues that it’s merely in a consolidation phase, rather than trend reversal. Range trading is likely between 0.9534/1.2348 for some more time.

Daily Pivots: (S1) 1.0979; (P) 1.1013; (R1) 1.1064; More…

Intraday bias in EUR/USD remains neutral at this point as range trading continues. On the downside, below 1.0899 minor support will turn bias back to the downside for 61.8% projection of 1.2265 to 1.1120 from 1.1494 at 1.0786. However, firm break of 1.1120 will confirm short term bottoming at 1.0805. Bias will be back on the upside for 55 day EMA (now at 1.1178) and above.

In the bigger picture, the decline from 1.2348 (2021 high) is expected to continue as long as 1.1494 resistance holds. 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. Nevertheless, break of 1.1494 will maintain medium term neutral outlook, and extending term range trading first.

EUR/USD dropped sharply to 1.1176 last week and breach of 1.1215 low indicates resumption of down trend from 1.2555. As a temporary low is formed, initial bias is neutral this week for some consolidations first. Upside of recovery should be limited below 1.1419 resistance to bring down trend resumption. On the downside, break of 1.1176 will 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.

In the long term picture, the rejection from 38.2% retracement of 1.6039 to 1.0339 at 1.2516 argues that long term down trend from 1.6039 (2008 high) might not be over yet. EUR/USD is also held below decade long trend line resistance. Firm break of 61.8% retracement of 1.0339 to 1.2555 at 1.1186 should at least bring a retest on 1.0339 low. This will remain the favored case as long as 1.1569 resistance holds.

Daily Pivots: (S1) 1.1777; (P) 1.1820; (R1) 1.1859; More…..

Sideway trading continues in EUR/USD and intraday bias stays neutral. Outlook remains bullish with 1.1695 support intact. Break of 1.1916 will resume whole rise form 1.0635. However, on the downside, firm break of 1.1695 should confirm short term topping. Intraday bias will be turned back to the downside towards 55 day EMA (now at 1.1479).

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 1.1422 resistance turned support holds.

Daily Pivots: (S1) 1.1658; (P) 1.1699; (R1) 1.1761; More…..

At this point, further fall remains in favor in EUR/USD with 1.1771 resistance intact. The corrective decline from 1.2011 would target 38.2% retracement of 1.0635 to 1.2011 at 1.1485. On the upside, however, break of 1.1771 resistance will now be the first sign that correction from 1.2011 has completed. Intraday bias will be turned back to the upside for 1.1880 for confirmation.

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 1.1422 resistance turned support holds.

Daily Pivots: (S1) 1.0647; (P) 1.0664 (R1) 1.0686; More….

Intraday bias in EUR/USD remains on the downside for 1.0494 support despite diminishing downside momentum. Our view is unchanged that corrective rise from 1.0339 is completed at 1.0905. And more importantly, larger down trend is probably resuming. Break of 1.0494 should confirm this bearish case and target 1.0339 low. Further break of 1.0339 will target parity next. On the upside, above 1.0701 will bring consolidations first before staging another decline.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate term reversal. this would also be supported by sustained trading above 55 week EMA.