Daily Pivots: (S1) 1.0816; (P) 1.0840; (R1) 1.0856; More…

Intraday bias in EUR/USD remains neutral at this point. More consolidations could be seen above 1.0801. But risk will stay on the downside as long as 55 4H EMA (now at 1.0857) holds. Below 1.0801 will resume the fall from 1.0980 to retest 1.0694 first. Break there will resume the decline from 1.1138 and target 100% projection of 1.1138 to 1.0694 from 1.0980 at 1.0536.

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 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

Daily Pivots: (S1) 0.9755; (P) 0.9812; (R1) 0.9919; More…

Range trading continues in EUR/USD and intraday bias stays neutral at this point. On the downside, break of 0.9630 bring retest of 0.9534 first. Firm break there will resume larger down trend. However, break of 0.9998 resistance will resume the rise from 0.9534, and carry larger bullish implications.

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, break of 0.9998 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound. However, considering bullish convergence condition in daily MACD, firm break of 0.9998 will confirm medium term bottoming, and bring further rise back to 1.0368 resistance first.

EUR/USD’s rebound from 1.0339 extended higher last week. Break of 1.0652 resistance indicates bottoming. Initial bias stays mildly on the upside this week for 1.0872 resistance and possibly above. On the downside, below 1.0453 minor support will turn bias back to the downside for 1.0339 support. Break there will extend the larger down trend towards parity.

In the bigger picture, whole down trend from 1.6039 (2008 high) is in progress. Such down trend is expected to extend to 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.

In the long term picture, the down trend from 1.6039 (2008 high) is still in progress and there is no clear sign of completion. We’d expect more downside towards 0.8223 (2000 low) as long as 1.1298 resistance holds.

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Daily Pivots: (S1) 1.0311; (P) 1.0359; (R1) 1.0412; More…

Intraday bias in EUR/USD remains neutral as consolidation from 1.0481 is in progress. Downside of retreat should be contained by 1.0092 resistance turned support to bring another rally. On the upside, break of 1.0481 will resume the rise from 0.9534 and target 1.0609 fibonacci level.

In the bigger picture, a medium term bottom was in place at 0.9534, on bullish convergence condition in daily MACD. Even as a corrective rise, rally from 0.9534 should target 38.2% retracement of 1.2348 (2021 high) to 0.9534 at 1.0609. Sustained trading above 55 week EMA (now at 1.0566) will raise the chance of trend reversal and target 61.8% retracement at 1.1273. This will now remain the favored case as long as 1.0092 resistance turned support holds.

EUR/USD edged higher to 1.1422 last week but reversed from there. A short term top should be formed ahead of 1.1496 key resistance. Initial bias is now on the downside this week for 38.2% retracement of 1.0635 to 1.1422 at 1.1121. Sustained break there will argue that whole rebound from 1.0635 has completed and bring deeper fall to 61.8% retracement at 1.0936. On the upside, though, break of 1.1230 minor resistance will turn bias back to the upside for 1.1422 instead.

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.

In the long term picture, outlook remains bearish for now as it’s staying below 55 month EMA, as well as decade long falling trend line. Down trend from 1.6039 (2008 high) is still in favor to extend through 1.0339 down the road. However, sustained trading above 55 month EMA will firstly suggest that fall from 1.2555 has completed. It would also be an early indication on long term bullish reversal. Focus would be back on 1.255 cluster resistance (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ).

Daily Pivots: (S1) 1.0815; (P) 1.0843; (R1) 1.0882; More…

Intraday bias in EUR/USD remains neutral as consolidation from 1.0777 is extending. Stronger recovery cannot be ruled out but upside should be limited by 38.2% retracement of 1.1095 to 1.0777 at 1.0898. On the downside, break of 1.0777 will resume larger down trend. Though, break of 1.0898 will target 61.8% retracement at 1.0974.

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) 1.1263; (P) 1.1289; (R1) 1.1320; More…

Intraday bias in EUR/USD remains neutral with focus on 1.1373 resistance. Firm break there will indicate short term bottoming at 1.1185. Intraday bias will be turned back to the upside for 55 day EMA (now at 1.1518). On the downside, break of 1.1185 will resume larger fall from 1.2348.

In the bigger picture, there are various ways of interpreting the fall from 1.2348 (2021 high). It could be a correction to rise from 1.0635 (2020 low), the fourth leg of a sideway pattern from 1.0339 (2017 low), or resuming long term down trend. In any case, outlook will now stay bearish as long as 1.1703 support turned resistance holds. Sustained break of 61.8% retracement of 1.0635 to 1.2348 at 1.1289 would pave the way back to 1.0635.

Daily Pivots: (S1) 1.0275; (P) 1.0320; (R1) 1.0363; More…

Intraday bias in EUR/USD remains neutral first, with focus staying on 1.0348 support turned resistance, which is close to 55 day EMA (now at 1.0346). Decisive break there argue that rally from 0.9951 is at least correcting the fall from 1.1494. Further rise should then be seen to 38.2% retracement of 1.1494 to 0.9951 at 1.0540. On the downside, break of 1.0201 minor support will suggest that such rebound has completed and bring retest of 0.9951 low instead.

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) 1.1031; (P) 1.1047; (R1) 1.1062; More…

Intraday bias in EUR/USD remains mildly on the downside for 1.0922 support. Break there will turn near term outlook bearish for retest of 1.0879 low. On the upside, above 1.1095 will target 1.1172 resistance first. Price actions from 1.0879 are seen as a corrective pattern. We’ll waiting for more signal that it’s completed.

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) 1.0788; (P) 1.0838; (R1) 1.0872; More…

Outlook in EUR/USD is unchanged and intraday bias stays neutral. On the upside, break of 1.0887 will affirm the case that fall from 1.1138 has completed, and target this resistance. However, break of 1.0761 will turn bias back to the downside for retesting 1.0694 support.

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 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

Daily Pivots: (S1) 1.1627; (P) 1.1654; (R1) 1.1692; More…..

Intraday bias in EUR/USD remains neutral for consolidation above 1.1612 temporary low. But further fall is expected as long as 1.1752 support turned resistance holds. Break of 1.1612 will resume the decline from 1.2011 short term top to 38.2% retracement of 1.0635 to 1.2011 at 1.1485. However, firm break of 1.1752 will suggest that the corrective pull back has completed. Intraday bias will be turned back to the upside for retesting 1.2011.

In the bigger picture, rise from 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) 1.1162; (P) 1.1190 (R1) 1.1210; More….

Intraday bias in EUR/USD remains neutral for the moment as it’s still bounded in range of 1.1109/1295. With 1.1109 support intact, there is no indication of reversal yet. Decisive break of 1.1298 key resistance will carry larger bullish implication and target 1.1615 resistance next. On the downside, break of 1.1109 support will indicate short term topping and rejection from 1.1298. In such case, intraday bias will be turned to the downside for 1.0838 support.

In the bigger picture, the case for medium term reversal continues to build up with EUR/USD staying far above 55 week EMA (now at 1.0941). 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) 1.2181; (P) 1.2222 (R1) 1.2281; More….

EUR/USD continues to be bounded in consolidative trading below 1.2322 and intraday bias remains neutral. More consolidations could be seen. But as long as 1.2088 resistance turned support holds, further rally is expected. Break of 1.2322 will resume medium term rise to 1.2494/2516 key resistance zone next. At this point, we’d expect strong resistance from there to limit upside and bring reversal. On the downside, break of 1.2088 will argue that EUR/USD has topped earlier than expected. In that case, intraday bias will be turned to the downside for 1.1915 support first.

In the bigger picture, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Therefore, in case of another rally, we’d be expect 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 to limit upside and bring reversal. That is also close to 61.8% projection of 1.0569 to 1.2091 from 1.1553 at 1.2494. Break of 1.1553 support will confirm completion of the rise. However, sustained break of 1.2516 will carry larger bullish implication and target 38.2% retracement of 1.6039 to 1.0339 at 1.3862.

Daily Pivots: (S1) 1.0718; (P) 1.0743; (R1) 1.0781; More…

Intraday bias in EUR/USD stays neutral at this point, and consolidation from 1.0685 could extend. While stronger recovery might be seen, outlook will stay bearish as long as 1.0944 resistance holds. On the downside, below 1.0685 will resume the fall from 1.1274 to 1.0609/34 cluster support zone next.

In the bigger picture, fall from 1.1274 medium term top is seen as a correction to up trend from 0.9534 (2022 low). Strong support could be seen from 1.0634 cluster support (38.2% retracement of 0.9534 to 1.1274 at 1.0609) to bring rebound, at least on first attempt. Break of 1.0944 will indicate the start of the second leg, and target retest of 1.1274. However, sustained break of 1.0609/0634 will raise the chance of bearish trend reversal, and target 61.8% retracement at 1.0199.

Daily Pivots: (S1) 1.1239; (P) 1.1278; (R1) 1.1329; More……

With 1.1255 minor support intact, intraday bias in EUR/USD remains mildly on the upside for 1.1347 resistance first. Break there will add to the case of medium term bottoming and target 1.1660 key fibonacci level next. On the downside, below 1.1255 minor support will turn intraday bias back to the downside for 1.1181 support instead.

In the bigger picture, considering bullish convergence condition in daily and weekly MACD, a medium term bottom could be in place at 1.1107 after hitting 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186. Hence, for now, risk will stay on the upside as long as 1.1107 low holds. Break of 1.1347 will extend the rebound towards 38.2% retracement of 1.2555 to 1.1107 at 1.1660. However, sustained break of 1.1107 will confirm resumption of down trend from 1.2555.

Daily Pivots: (S1) 1.0810; (P) 1.0851; (R1) 1.0920; More…

EUR/USD’s recovery from 1.0764 extends higher today but stays below 1.0929 resistance. Intraday bias remains neutral first, and further decline is in favor. On the downside, break of 1.0764 will resume the fall from 1.1274 to 1.0609/34 cluster support next. Nevertheless, firm break of 1.0929 will turn bias back to the upside for 1.1064 resistance instead.

In the bigger picture, fall from 1.1274 medium term top is seen as a correction to up trend from 0.9534 (2022 low). Deeper decline would be seen 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 bring rebound. Yet, medium term outlook will be neutral for now, as long as 1.1274 resistance holds.

Daily Pivots: (S1) 1.0616; (P) 1.0647 (R1) 1.0706; More…..

Intraday bias in EUR/USD remains neutral for consolidation above 1.0520 temporary low. As long as 1.0713 minor resistance holds, deeper decline is still expected. We’re holding on to the view that fall from 1.0828 is resuming the larger down trend. Below 1.0520 will target a test on 1.0339 low. Decisive break there will confirm our bearish view and target parity. However, above 1.0713 will dampen out view and turn focus back to 1.0828 instead.

In the bigger picture, whole down trend from 1.6039 (2008 high) is in progress. Such down trend is expected to extend to 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) 1.1003; (P) 1.1040; (R1) 1.1065; More…

EUR/USD is still bounded in consolidation from 1.0926. Intraday bias remains neutral first. Outlook remains bearish as long as 1.1164 resistance holds. Firm break of 1.0926 will resume lager down trend from 1.2555 for 1.0813 fibonacci level next. However, decisive break of 1.1164 will be an early indication of larger reversal and target 1.1249 resistance.

In the bigger picture, down trend from 1.2555 (2018 high) is in progress. Prior rejection of 55 week EMA also maintained bearishness. Further fall should be seen to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Decisive break there will target 1.0339 (2017 low). On the upside, break of 1.1412 resistance is needed to indicate medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.1385; (P) 1.1418; (R1) 1.1446; More….

EUR/USD retreats after hitting 1.1452. With 4 hour MACD crossed below signal line, intraday bias is turned neutral first. Another rise could still be seen and above 1.1452 will target 1.1496 key resistance. Firm break there will carry larger bullish implications and target 61.8% projection of 1.0774 to 1.1422 from 1.1168 at 1.1568 next. On the downside, break of 1.1168 support is needed to confirm near term bearish reversal. Otherwise, outlook is neutral at worst for now.

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) 1.0623; (P) 1.0661; (R1) 1.0683; More…

Outlook in EUR/USD remains unchanged. Intraday bias remains neutral and further decline is in favor with 1.0803 resistance intact. On the downside, break of 1.0610 will resume the corrective fall from 1.1032 and 38.2% retracement of 0.9534 to 1.1032 at 1.0463. Strong support should be seen around there to bring rebound, at least on first attempt.

In the bigger picture, the rally from 0.9534 low (2022 low) is a medium term up trend rather than a correction. Further rise is in favor to 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 next. This will remain the favored case as long as 1.0482 support holds.