Daily Pivots: (S1) 1.1614; (P) 1.1645 (R1) 1.1690; More…..

EUR/USD’s consolidation pattern from 1.1509 is still in progress and outlook is unchanged. Intraday bias stays neutral first. Upside of recovery should be limited by 1.1851 resistance to bring fall resumption. On the downside, break of 1.1507/9 will resume the whole fall from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

EUR/USD breached 1.1509 to 1.1507 last week but quickly recovered. Initial bias stays neutral this week as consolidation from 1.1509 is extending. Upside of recovery should be limited by 1.1851 resistance to bring fall resumption. On the downside, break of 1.1507/9 will resume the whole fall from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

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. Focus will now turn to 1.1553 support. Sustained break there would raise the chance of retesting 1.0339 low. It’s early to tell, but the chance of long term bullish reversal is fading.

Daily Pivots: (S1) 1.1531; (P) 1.1582 (R1) 1.1655; More…..

EUR/USD rebounds to as high as 1.1674 so far today but outlook is unchanged. While further rise cannot be ruled out, upside should be limited below 1.1851 resistance to bring fall resumption. Firm break of 1.1509 low will resume larger decline from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.1531; (P) 1.1582 (R1) 1.1655; More…..

EUR/USD rebounds further today as consolidation pattern from 1.1509 is extending. While further rise cannot be ruled out, upside should be limited below 1.1851 resistance to bring fall resumption. Firm break of 1.1509 will resume larger decline from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.1541; (P) 1.1572 (R1) 1.1606; More…..

EUR/USD quickly recovers after breaching 1.1509 to 1.1507 and intraday bias remains neutral first. More consolidation could be seen and another recovery cannot be ruled out. But upside should be limited below 1.1851 resistance to bring fall resumption. Firm break of 1.1509 will resume larger decline from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.1541; (P) 1.1572 (R1) 1.1606; More…..

Intraday bias in EUR/USD remains neutral as consolidative trading continues. In case of another recovery, upside should be limited below 1.1851 resistance to bring fall resumption. Firm break of 1.1509 will resume larger decline from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.1532; (P) 1.1589 (R1) 1.1646; More…..

EUR/USD is staying in consolidation and intraday bias remains neutral first. In case of another recovery, upside should be limited below 1.1851 resistance to bring fall resumption. Firm break of 1.1509 will resume larger decline from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.1532; (P) 1.1589 (R1) 1.1646; More…..

Intraday bias in EUR/USD remains neutral as more consolidative could be seen. But in case of another recovery, upside should be limited below 1.1851 resistance to bring fall resumption. Firm break of 1.1509 will resume larger decline from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.1584; (P) 1.1604 (R1) 1.1644; More…..

EUR/USD dips through 1.1542 temporary low but is held above 1.1509 low. Intraday bias remains neutral first and more consolidative trading cannot be ruled out. But even in case of another recovery, upside should be limited below 1.1851 resistance to bring fall resumption. Firm break of 1.1509 will resume larger decline from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.1584; (P) 1.1604 (R1) 1.1644; More…..

Intraday bias in EUR?USD remains neutral as this point for some more consolidation. Upside of recovery should be limited below 1.1851 resistance to bring fall resumption. Break of 1.1509 will resume larger decline from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.1558; (P) 1.1592 (R1) 1.1642; More…..

A temporary low is in place at 1.1542 in EUR/USD with 4 hour MACD crossed above signal line. Intraday bias is turned neutral first. Upside of recovery should be limited below 1.1851 resistance to bring fall resumption. Break of 1.1509 will resume larger decline from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.1558; (P) 1.1592 (R1) 1.1642; More…..

Intraday bias in EUR/USD remains on the downside for 1.1509 low. Break will resume the whole fall from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186. On the upside, above 1.1659 minor resistance delay the bearish case and bring more consolidation first.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

EUR/USD’s sharp fall last week suggests that corrective rise from 1.1509 has completed at 1.1851 already. Initial bias stays on the downside for 1.1509 first. Break will resume the whole fall from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186. On the upside, above 1.1659 minor resistance delay the bearish case and bring more consolidation first.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

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. Focus will now turn to 1.1553 support. Sustained break there would raise the chance of retesting 1.0339 low. It’s early to tell, but the chance of long term bullish reversal is fading.

Daily Pivots: (S1) 1.1468; (P) 1.1659 (R1) 1.1756; More…..

EUR/USD recovers mildly but intraday bias stays on the downside for 1.1509 low. Break there will confirm resumption of larger decline from 1.2555. EUR/USD should take out 50% retracement of 1.0339 to 1.2555 at 1.1447 with ease to 61.8% retracement at 1.1186. On the upside, above 1.1659 minor resistance will delay the bearish case and bring more consolidation first.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.1468; (P) 1.1659 (R1) 1.1756; More…..

Intraday bias in EUR/USD remains on the downside for 1.1509 low first. Break there will confirm resumption of larger decline from 1.2555. EUR/USD should take out 50% retracement of 1.0339 to 1.2555 at 1.1447 with ease to 61.8% retracement at 1.1186. On the upside, above 1.1659 minor resistance will delay the bearish case and bring more consolidation first.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.1745; (P) 1.1773 (R1) 1.1822; More…..

EUR/USD’s sharp fall and firm break of 1.1713 minor support suggests that corrective rise form 1.1509 has completed at 1.1851 already. Intraday bias is turned back to the downside for 1.1509 low first. Break will resume larger down trend from 1.2555 to 50% retracement of 1.0339 to 1.2555 at 1.1447. On the upside, above 1.1851 will extends the corrective rise from 1.1509. But as noted before, upside should be limited by 1.1995 resistance to bring down trend resumption eventually.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.1745; (P) 1.1773 (R1) 1.1822; More…..

Outlook in EUR/USD remains unchanged. It’s staying in tight range of 1.1713/1839 and intraday bias remains neutral. On the upside, break of 1.1839 will extend the rebound from 1.1509. But as it’s seen as a correction, upside should be limited by 1.1995 resistance to bring reversal. On the downside, break of 1.1713 will argue that such correction is finished. Intraday bias would then be turned back to the downside to resume larger fall from 1.2555, through 1.1509 to 50% retracement of 1.0339 to 1.2555 at 1.1447.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.1716; (P) 1.1762 (R1) 1.1792; More…..

EUR/USD continues to be bounded in tight range below 1.1839. Intraday bias remains neutral for the moment. On the downside, break of 1.1713 minor support suggest completion of the correction fro 1.1509. Intraday would be turned back to the downside to resume larger fall from 1.2555, through 1.1509 to 50% retracement of 1.0339 to 1.2555 at 1.1447. In case of another rise, upside should be limited by 1.1995 resistance to bring reversal.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.1716; (P) 1.1762 (R1) 1.1792; More…..

intraday bias in EUR/USD remains neutral first as range trading continue. On the downside, break of 1.1713 minor support suggest completion of the correction fro 1.1509. Intraday would be turned back to the downside to resume larger fall from 1.2555, through 1.1509 to 50% retracement of 1.0339 to 1.2555 at 1.1447. In case of another rise, upside should be limited by 1.1995 resistance to bring reversal.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.1762; (P) 1.1792 (R1) 1.1815; More…..

EUR/USD continues to stay in sideway trading below 1.1839 and intraday bias remains neutral. Corrective recovery from 1.1509 could extend higher. But upside should be limited by 1.1995 resistance to bring reversal. On the downside, break of 1.1713 minor support will likely resume larger fall from 1.2555 through 1.1509 to 50% retracement of 1.0339 to 1.2555 at 1.1447.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.