EUR/USD edged higher to 1.2413 last week but reversed well ahead of near term falling trend line. Initial bias is now on 1.2214 support his week. Decisive break there will revive the case of medium term reversal. In that case, deeper fall would be seen to 1.2154 first. Firm break there will confirm and target 38.2% retracement of 1.0339 to 1.2555 at 1.1708 next. On the upside, break of 1.2413 will turn focus back to 1.2555 high.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

In the long term picture, 1.0339 is seen as an important bottom as the down trend from 1.6039 (2008 high) could have completed. It’s still early to decide whether price action from 1.0339 is developing into a corrective or impulsive pattern. Reaction to 38.2% retracement of 1.6039 to 1.0339 at 1.2516 will give important clue to the underlying momentum.

Daily Pivots: (S1) 1.2315; (P) 1.2358 (R1) 1.2386; More….

EUR/USD’s sharp decline today now put 1.2214 support in focus. Decisive break there will revive the case of trend reversal, after rejection by 1.2516 key fibonacci resistance. In that case, outlook will be turned bearish for 1.2154 support and below.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.2315; (P) 1.2358 (R1) 1.2386; More….

Intraday bias in EUR/USD remain neutral at this point. On the upside, above 1.2413 will extend the rebound from 1.2214 to 1.2475 resistance. Break will target 1.2516/2555 key resistance zone. On the downside, however, break of 1.2214 will revive the case of trend reversal and turn outlook bearish.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.2345; (P) 1.2371 (R1) 1.2401; More….

EUR/USD is staying in tight range below 1.2413 and intraday bias remains neutral. On the upside, above 1.2413 will extend the rebound from 1.2214 to 1.2475 resistance. Break will target 1.2516/2555 key resistance zone. On the downside, however, break of 1.2214 will revive the case of trend reversal and turn outlook bearish.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.2345; (P) 1.2371 (R1) 1.2401; More….

Intraday bias in EUR?USD remains neutral. On the upside, above 1.2413 will extend the rebound from 1.2214 to 1.2475 resistance. Break will target 1.2516/2555 key resistance zone. On the downside, however, break of 1.2214 will revive the case of trend reversal and turn outlook bearish.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.2332; (P) 1.2372 (R1) 1.2410; More….

EUR/USD is drawing support from 4 hour 55 EMA, but it’s staying below 1.2413 temporary top. Intraday bias remains neutral first. On the upside, above 1.2413 will extend the rebound from 1.2214 to 1.2475 resistance. Break will target 1.2516/2555 key resistance zone. On the downside, however, break of 1.2214 will revive the case of trend reversal and turn outlook bearish.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.2332; (P) 1.2372 (R1) 1.2410; More….

Intraday bias in EUR/USD remains neutral for the moment. On the upside, above 1.2413 will extend the rebound from 1.2214 to 1.2475 resistance. Break will target 1.2516/2555 key resistance zone. On the downside, however, break of 1.2214 will revive the case of trend reversal and turn outlook bearish.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.2335; (P) 1.2364 (R1) 1.2408; More….

Despite edging higher to 1.2413, EUR/USD failed to break through near term trend line resistance and retreated. Intraday bias remains neutral first. On the upside, above 1.2413 will extend the rebound from 1.2214 to 1.2475 resistance. Break will target 1.2516/2555 key resistance zone. On the downside, however, break of 1.2214 will revive the case of trend reversal and turn outlook bearish.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.2335; (P) 1.2364 (R1) 1.2408; More….

Intraday bias in EUR/USD remains neutral with focus on 1.2396 resistance. Break there will resume the rise from 1.2214. IN that case, EUR/USD will likely surge through 1.2475 to 1.2516/2555 key resistance zone. On the downside, break of 1.2302 minor support will indicate completion of the rebound from 1.2214. Intraday bias would be turned back to the downside for 1.2214. Firm break there will revive the bearish case of trend reversal.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.2307; (P) 1.2327 (R1) 1.2346; More….

EUR/USD rebounds strongly today and while intraday bias remains neutral, focus is back on 1.2396 temporary top. Break there will resume the rise from 1.2214 and target 1.2475 and above to 1.2516/2555 key resistance zone. On the downside, break of 1.2302 will indicate completion of the rebound from 1.2214. Intraday bias would be turned back to the downside for 1.2214. Firm break there will revive the bearish case of trend reversal.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.2307; (P) 1.2327 (R1) 1.2346; More….

Intraday bias in EUR/USD remains neutral at this point, with focus on 1.2302 minor support. Break there will indicate completion of the rebound from 1.2214. Intraday bias would be turned back to the downside for 1.2214. Firm break there will revive the bearish case of trend reversal. On the upside, above 1.2396 will target 1.2475 and above to 1.2516/2555 key resistance zone.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

EUR/USD recovered to 1.2396 last week but lost momentum since then. Initial bias stays neutral first with focus on 1.2302 minor support. Break there will indicate completion of the rebound from 1.2214. Intraday bias would be turned back to the downside for 1.2214. Firm break there will revive the bearish case of trend reversal. On the upside, above 1.2396 will target 1.2475 and above to 1.2516/2555 key resistance zone.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

In the long term picture, 1.0339 is seen as an important bottom as the down trend from 1.6039 (2008 high) could have completed. It’s still early to decide whether price action from 1.0339 is developing into a corrective or impulsive pattern. Reaction to 38.2% retracement of 1.6039 to 1.0339 at 1.2516 will give important clue to the underlying momentum.

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Daily Pivots: (S1) 1.2290; (P) 1.2334 (R1) 1.2370; More….

EUR/USD is holding inside tight range above 1.2302 minor support. Intraday bias stays neutral first. On the upside, above 1.2396 will extend the rise from 1.2214 to 1.2475 and then 1.2555. 1.2516/55 is the key resistance zone to determine larger outlook. On the downside, below 1.2302 will turn bias to the downside for 1.2214 support first. And firm break there will revive the case of rejection by 1.2516 key fibonacci level and turn outlook bearish.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.2290; (P) 1.2334 (R1) 1.2370; More….

Intraday bias in EUR/USD remains neutral as this point, as it drew support from 1.2302 and recovered. On the upside, above 1.2396 will extend the rise from 1.2214 to 1.2475 and then 1.2555. 1.2516/55 is the key resistance zone to determine larger outlook. On the downside, below 1.2302 will turn bias to the downside for 1.2214 support first. And firm break there will revive the case of rejection by 1.2516 key fibonacci level and turn outlook bearish.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.2344; (P) 1.2369 (R1) 1.2393; More….

Focus is back on 1.2302 minor support in EUR/USD. Break will turn bias to the downside for 1.2214 support first. And firm break there will revive the case of rejection by 1.2516 key fibonacci level and turn outlook bearish. On the upside, above 1.2396 will extend the rise from 1.2214 to 1.2475 and then 1.2555.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.2344; (P) 1.2369 (R1) 1.2393; More….

EUR/USD lost momentum after hitting 1.2396, as seen in 4 hour MACD. Intraday bias is turned neutral first. As long as 1.2302 minor support holds, further rise is in favor. Above 1.2396 will target 1.2475 first. Break will target key resistance level at 1.2555 high. However, as EUR/USD is still bounded in range trading pattern from 1.2555, break of 1.2302 minor support will turn bias back to the downside for 1.2214 instead.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.2312; (P) 1.2345 (R1) 1.2387; More….

Intraday bias in EUR/USD remains on the upside as rise from 1.2214 is in progress, hitting 1.2395 so far. Further rally should be seen for 1.2475 first. Break will target key resistance level at 1.2555 high. For now, as EUR/USD is bounded in range trading pattern from 1.2555, break of 1.2302 minor support will turn bias back to the downside for 1.2214 instead.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.2312; (P) 1.2345 (R1) 1.2387; More….

EUR/USD’s rally from 1.2214 continues today and intraday bias remains on the upside for 1.2475/2555 resistance zone. We’d be cautious on strong resistance from there to bring another fall to extend sideway trading. On the downside, below 1.2302 minor support will turn bias back to the downside for 1.2214 instead.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.2277; (P) 1.2303 (R1) 1.2347;  ….

EUR/USD’s strong rally today and break of 1.2344 resistance firstly indicates the fall from 1.2475 has completed at 1.2214 already. Secondly, it invalidated the bearish case of larger trend reversal. Instead, price actions from 1.2555 high could merely be developing into a sideway consolidation pattern. Intraday bias is back on the upside for 1.2475/2555 resistance zone. We’d be cautious on strong resistance from there to bring another fall to extend sideway trading. On the downside, below 1.2302 minor support will turn bias back to the downside for 1.2214 instead.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.2277; (P) 1.2303 (R1) 1.2347; More….

Intraday bias in EUR/USD remains neutral first, with focus on 1.2344 minor resistance. Break there will indicate that the decline from 1.2475 has completed and turn bias back to the upside for this resistance. Break will target a test on 1.2555 high. On the downside, below 1.2214 will target 1.2154 key support first. Firm break there should confirm rejection by 1.2516 key fibonacci resistance.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.