Daily Pivots: (S1) 1.2232; (P) 1.2261 (R1) 1.2308; More….

EUR/USD’s rebound from 1.2214 extends to as high as 1.2321 so far today. The upside acceleration dampens the immediate bearish case. Focus is back 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.

Daily Pivots: (S1) 1.2232; (P) 1.2261 (R1) 1.2308; More….

Intraday bias in EUR/USD remains neutral for the moment. But as long as 1.2344 minor resistance holds, further decline is expected. Break of 1.2214 will target 1.2154 key support first. Firm break there should confirm rejection by 1.2516 key fibonacci resistance. In that case, whole decline from 1.2555 should target 38.2% retracement of 1.0339 to 1.2555 at 1.1708 next. However, break of 1.2344 will turn bias back to the upside for 1.2475 and above to extend recent range trading.

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 dropped to 1.2214 last week but recovered since then. Initial bias is neutral this week first. As long as 1.2344 minor resistance holds, further decline is expected. Break of 1.2214 will target 1.2154 key support first. Firm break there should confirm rejection by 1.2516 key fibonacci resistance. In that case, whole decline from 1.2555 should target 38.2% retracement of 1.0339 to 1.2555 at 1.1708 next. However, break of 1.2344 will turn bias back to the upside for 1.2475 and above to extend recent range trading.

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) 1.2207; (P) 1.2249 (R1) 1.2279; More….

Intraday bias in EUR/USD is turned neutral with current recovery. For now, another decline is expected as long as 1.2344 minor resistance holds. Below 1.2214 will target 1.2154 first. Firm break there should confirm rejection by 1.2516 key fibonacci resistance. In that case, whole decline from 1.2555 should target 38.2% retracement of 1.0339 to 1.2555 at 1.1708 next. However, break of 1.2344 will turn bias back to the upside for 1.2475 and above to extend recent range trading.

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) 1.2207; (P) 1.2249 (R1) 1.2279; More….

Intraday bias in EUR/USD stays on the downside for 1.2154 support. Firm break there should confirm rejection by 1.2516 key fibonacci resistance. In that case, whole decline from 1.2555 should target 38.2% retracement of 1.0339 to 1.2555 at 1.1708 next. On the upside, above 1.2314 minor resistance will mix up the outlook and turn intraday bias neutral first.

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) 1.2236; (P) 1.2285 (R1) 1.2318; More….

EUR/USD’s decline continues today and breaches 1.2238 support. Intraday bias remains on the downside for 1.2154 support level. Decisive break there should confirm the rejection by 1.2516 key fibonacci resistance and pave the way to 38.2% retracement of 1.0339 to 1.2555 at 1.1708. On the upside, above 1.2314 minor resistance will mix up the outlook and turn intraday bias neutral first.

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) 1.2236; (P) 1.2285 (R1) 1.2318; More….

Intraday bias in EUR/USD stays on the downside for 1.2238 support first. Break will target 1.2154 support and below. Such development would confirm the rejection by 1.2516 key fibonacci resistance and pave the way to 38.2% retracement of 1.0339 to 1.2555 at 1.1708. However, break of 1.2344 minor resistance will dampen this bearish case and turn bias back to the upside for 1.2475 resistance 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) 1.2236; (P) 1.2285 (R1) 1.2318; More….

No change in EUR/USD’s outlook. With 1.2344 minor resistance intact, deeper fall should be seen to 1.2238 first. Break will target 1.2154 and below. Such development would confirm the rejection by 1.2516 key fibonacci resistance and pave the way to 38.2% retracement of 1.0339 to 1.2555 at 1.1708. However, break of 1.2344 minor resistance will dampen this bearish case and turn bias back to the upside for 1.2475 resistance 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) 1.2236; (P) 1.2285 (R1) 1.2318; More….

EUR/USD recovers mildly ahead of 1.2238 support. But intraday bias stays on the downside for the moment. Corrective recovery from 1.2154 should have completed with three waves up to 1.2475. Deeper decline is expected to 1.2154 and below. Break there will pave the way to 38.2% retracement of 1.0339 to 1.2555 at 1.1708. This will now be the preferred case as long as 1.2344 resistance holds.

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) 1.2273; (P) 1.2309 (R1) 1.2337; More….

EUR/USD’s strong break of 1.2285 support should now confirm completion of the three wave rebound from 1.2154, at 1.2475. Intraday bias is back to the downside for 1.2238 support and then 1.2154. Note that, current development is also seen as another sign of rejection by 1.2516 key fibonacci level. Firm break of 1.2154 will pave the way to 38.2% retracement of 1.0339 to 1.2555 at 1.1708. This will now be the preferred case as long as 1.2344 resistance holds.

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) 1.2273; (P) 1.2309 (R1) 1.2337; More….

EUR/USD tried to break 1.2285 support but failed again. Intraday bias remains neutral with focus on 1.2285. Break will indicate hat whole rise from 1.2154 has completed with three waves up to 1.2475. And intraday bias will be turned to the downside for 1.2154 and below, to extend the decline from 1.2555. That will also be another sign of rejection from 1.2516 key fibonacci level. On the upside, above 1.2344 will turn bias back to the upside for 1.2475 and possibly further 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. 

Daily Pivots: (S1) 1.2290; (P) 1.2310 (R1) 1.2337; More….

At this point, EUR/USD is still holding above 1.2285 minor support and intraday bias remains neutral. On the upside, above 1.2475 will target a test on 1.2555 high, which is close to 1.2516 key long term fibonacci level. We’d be cautious on reversal from there. But decisive break will carry larger bullish implications. On the downside, below 1.2285 minor support will turn bias to the downside for 1.2154 and below to extend the decline from 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) 1.2264; (P) 1.2342 (R1) 1.2386; More….

EUR/USD is still holding above 1.2285 minor support. Intraday bias is staying neutral at this point. On the upside, above 1.2475 will target a test on 1.2555 high, which is close to 1.2516 key long term fibonacci level. We’d be cautious on reversal from there. But decisive break will carry larger bullish implications. On the downside, below 1.2285 minor support will turn bias to the downside for 1.2154 and possibly 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) 1.2264; (P) 1.2342 (R1) 1.2386; More….

While the decline from 1.2475 is deep, EUR/USD is still holding above 1.2285 minor support. Intraday bias is staying neutral first. On the upside, above 1.2475 will target a test on 1.2555 high, which is close to 1.2516 key long term fibonacci level. We’d be cautious on reversal from there. But decisive break will carry larger bullish implications. On the downside, below 1.2285 minor support will turn bias to the downside for 1.2154 and possibly 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) 1.2356; (P) 1.2416 (R1) 1.2461; More….

EUR/USD’s retreat from 1.2475 extends lower today but it’s staying above 1.2285 minor support. Intraday bias neutral and another rise remains mildly in favor. On the upside, above 1.2475 will target a test on 1.2555 high, which is close to 1.2516 key long term fibonacci level. We’d be cautious on reversal from there. But decisive break will carry larger bullish implications. On the downside, below 1.2285 minor support will turn bias to the downside for 1.2154 and possibly 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) 1.2356; (P) 1.2416 (R1) 1.2461; More….

Intraday bias in EUR/USD remains neutral at this point. Another rise will be in favor as long as 1.2285 minor support holds. On the upside, above 1.2475 will target a test on 1.2555 high, which is close to 1.2516 key long term fibonacci level. We’d be cautious on reversal from there. But decisive break will carry larger bullish implications. On the downside, below 1.2285 minor support will turn bias to the downside for 1.2154 and possibly 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) 1.2376; (P) 1.2419 (R1) 1.2490; More….

EUR/USD’s rise was limited at 1.2475 and dropped sharply since then. Intraday bias is turned neutral again. On the upside, above 1.2475 will target a test on 1.2555 high, which is close to 1.2516 key long term fibonacci level. We’d be cautious on reversal from there. But decisive break will carry larger bullish implications. On the downside, below 1.2285 minor support will turn bias to the downside for 1.2154 and possibly 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) 1.2376; (P) 1.2419 (R1) 1.2490; More….

The break of 1.2445 resistance confirms resumption of rebound from 1.2154. Intraday bias stays on the upside for further rally to 1.2555 high, which is close to 1.2516 key long term fibonacci level. We’d be cautious on reversal from there. But decisive break will carry larger bullish implications. On the downside, below 1.2358 minor support will turn intraday bias neutral first. And further break of 1.2338 will target 1.2154 and below again.

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) 1.2308; (P) 1.2341 (R1) 1.2384; More….

EUR/USD surges to as high as 1.2438 and intraday bias is back to the upside for 1.2445 resistance. Break will resume whole rebound form 1.2154 and target 1.2555 high which is close to 1.2516 key long term fibonacci level. Decisive break there will carry larger bullish implications. On the downside, however, firm break of 1.2238 will turn bias back to the downside, to resume the fall from 1.2555 through 1.2154.

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.

Daily Pivots: (S1) 1.2308; (P) 1.2341 (R1) 1.2384; More….

Intraday bias in EUR/USD remains neutral first. But we’re favoring the bullish case that consolidation from 1.2445 has completed at 1.2238. And, another rise is expected. On the upside, above 1.2445 will target a test on 1.2555 high, which is close to 1.2516 key long term fibonacci level. On the downside, however, firm break of 1.2238 will turn bias back to the downside, to resume the fall from 1.2555 through 1.2154.

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.