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.

Daily Pivots: (S1) 1.1714; (P) 1.1733; (R1) 1.1761; More…

Intraday bias in EUR/USD remains neutral at this point. We’d continue to look for strong support from 1.1602/1703 support zone to bring rebound. On the upside, above 1.1768 minor resistance will turn bias back to the upside for 1.1907 resistance first. However, sustained break of 1.1602 will argue that it’s already reversing the trend from 1.1603, and target 61.8% retracement of 1.1603 to 1.2348 at 1.1289.

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 1.1602 support holds. Reaction from 1.2555 should reveal underlying long term momentum in the pair. However sustained break of 1.1602 will argue that the rise from 1.0635 is over, and turn medium term outlook bearish again.

Daily Pivots: (S1) 1.1649; (P) 1.1682 (R1) 1.1736; More…..

No change in EUR/USD’s outlook. Recovery from 1.1507 is in progress and could extend higher. But still, it’s seen as part of the consolidation from1.1509. Upside should be limited by 1.1851 resistance to bring fall resumption. On the downside, below 1.1628 minor support will bring retest of 1.1507 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.

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) 1.0496; (P) 1.0551 (R1) 1.0642; More…

Intraday bias in EUR/USD remains neutral for the moment. Considering bullish convergence condition in 4 hour MACD, break of 1.0641 resistance will confirm short term bottoming at 1.0348, ahead of 1.0339 long term support. Intraday bias will be turned back to the upside for 55 day EMA (now at 1.0774). On the downside, however, decisive break of 1.0339 will carry larger bearish implication and target 161.8% projection of 1.1494 to 1.0805 from 1.1184 at 1.0069.

In the bigger picture, break of medium term channel support suggests downside acceleration. Current decline from 1.2348 (2021 high) is probably resuming long term down trend from 1.6039 (2008 high). Decisive break of 1.0339 will confirm this bearish case. Next target is 61.8% projection of 1.3993 to 1.0339 from 1.2348 at 1.0090. This will now remain the favored case as long as 1.0805 support turned resistance holds.

Daily Pivots: (S1) 1.1702; (P) 1.1796 (R1) 1.1863; More…

Intraday bias in EUR/USD remains neutral for the moment. As noted before, a short term top is formed at 1.1908 on divergence condition in 4 hour MACD. Deeper correction is expected as long as 1.1908 holds. Below 1.1727 minor support will turn bias to the downside for 38.2% retracement of 1.1119 to 1.1908 at 1.1606. We’d expect strong support there to bring rebound.

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.

EUR/USD rebounded to 1.1472 last week but failed to take out 1.1499 resistance and reversed. Initial bias remains on the upside this week for 1.1215 low fist. Break there will resume larger down trend for 1.1186 fibonacci level next. On the upside, above 1.1421 minor resistance will turn intraday bias neutral again. But near term outlook will remain bearish as long as 1.1499 resistance holds.

In the bigger picture, down trend from 1.2555 medium term top has just resumed 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. On the upside, break of 1.1814 resistance is now needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of strong rebound.

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.

Daily Pivots: (S1) 1.0613; (P) 1.0704; (R1) 1.0757; More…

Range trading continues in EUR/USD and intraday bias remains neutral for the moment. Further rally is expected as long as 1.0481 resistance turned support holds. Firm break of 61.8% projection of 0.9729 to 1.0481 from 1.0289 at 1.0754 will pave the way to 100% projection at 1.1041. However, firm break of 1.0481 will confirm short term topping and bring deeper fall to 1.0289 support.

In the bigger picture, focus stays on 38.2% retracement of 1.2348 (2021 high) to 0.9534 at 1.0609. Rejection by 1.0609 will suggest that price actions from 0.9534 medium term bottom are developing into a corrective pattern. Thus, medium bearishness is retained for another fall through 0.9534 at a later stage. However, sustained break of 1.0609 will raise the chance of trend reversal and target 61.8% retracement at 1.1273.

Daily Pivots: (S1) 0.9925; (P) 0.9979; (R1) 1.0016; More…

EUR/USD’s down trend resumed by breaking 0.9899 low. Intraday bias is back on the downside for 61.8% projection of 1.0773 to 0.9951 from 1.0368 at 0.9860. Firm break there should prompt downside acceleration to 100% projection at 0.9546. On the upside, break of 1.0078 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish 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 1.0368 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 1.1834; (P) 1.1861; (R1) 1.1890; More…..

EUR/USD is staying in range of 1.1754/2011 and intraday bias remains neutral first. Further rise is mildly in favor with 1.1754 support intact. On the upside, break of 1.2011 will resume whole rise form 1.0635. Nevertheless, on the downside, firm break of 1.1754 will turn bias to the downside for 38.2% retracement of 1.0635 to 1.2011 at 1.1485, to correct the rise from 1.6035.

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) 1.1198; (P) 1.1274; (R1) 1.1312; More…

Intraday bias in EUR/USD remains neutral as consolidation from 1.1185 is still extending. Further decline will remain in favor as long as 1.1382 resistance holds. Break of 1.1185 will resume larger decline from 1.2348. Next target is 161.8% projection of 1.2265 to 1.1663 from 1.1908 at 1.0934. On the upside, firm break of 1.1382 resistance should confirm short term bottoming at 1.1186. Intraday bias will be turned back to the upside for 55 day EMA (now at 1.1426).

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) 1.1202; (P) 1.1223; (R1) 1.1237; More…..

EUR/USD recovers strongly today but stays below 1.1273 minor resistance. Intraday bias remains neutral first. on the upside, break of 1.1273 support turned resistance will indicate short term bottoming at 1.1183. Intraday bias will be turned back to the upside for 1.1448 resistance. On 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) 1.1953; (P) 1.2006 (R1) 1.2084; More….

EUR/USD’s firm break of 1.2091 resistance today indicates resumption of medium term rise from 1.0339. Intraday bias is back on the upside. Current rise should target 1.2494/2516 key resistance zone next. On the downside, break of 1.1915 support is needed to confirm short term topping. Otherwise, outlook will remain bullish in case of retreat.

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.

Daily Pivots: (S1) 1.1329; (P) 1.1388; (R1) 1.1423; More….

Intraday bias in EUR/USD remains on the downside for 1.1300 low. Decisive break there will resume down trend from 1.2555 to 1.1186 fibonacci level next. On the upside, break of 1.1499 will resume the rebound from 1.1302 to 1.1621 resistance instead.

In the bigger picture, price actions from 1.1300 is seen as a corrective pattern. Decisive break of 1.1300 will resume the down trend from 1.2555 to 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. In case the consolidation from 1.1300 extends, upside should be limited by 1.1814 and 38.2% retracement of 1.2555 to 1.1300 at 1.1779. to bring down trend resumption eventually.

Daily Pivots: (S1) 1.1804; (P) 1.1854; (R1) 1.1916; More…..

EUR/USD’s breach of 1.1908 suggests resumption of recent rise from 1.0635. Intraday bias is back on the upside for 161.8% projection of 1.0774 to 1.1422 from 1.1255 at 1.2303. Nevertheless, on the downside, break of 1.1695 support will now indicate short term topping and bring deeper correction lower.

In the bigger picture, the strong break of 1.1496 resistance now suggests that whole down trend from 1.2555 (2018 high) has completed at 1.0635 already. Rise from 1.0635 should be the third leg of the pattern from 1.0339 (2017 low). Further 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) 1.2171; (P) 1.2203; (R1) 1.2254; More….

Intraday bias in EUR/USD remains on the upside for retesting 1.2348 high. Decisive break there should confirm resumption of up trend from 1.0635. Next target is 1.2555 key long term resistance zone. On the downside, break of 1.2050 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

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 1.1602 support holds. Reaction from 1.2555 should reveal underlying long term momentum in the pair.

Daily Pivots: (S1) 1.0802; (P) 1.0824; (R1) 1.0845; More….

EUR/USD is extending consolidation below 1.0844 temporary top, and intraday bias remains neutral for the moment. Further rally is in favor as long as 55 4H EMA (now at 1.0786) holds. On the upside, above 1.0844 will resume the rebound from 1.0665 to retest 1.0915 resistance. Firm break there will target 100% projection of 1.0601 to 1.0915 from 1.0665 at 1.0919 next. However, sustained break of 55 4H EMA will bring deeper fall back to 1.0665 support.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern that’s still in progress. Break of 1.0601 will target 1.0447 support and possibly below. On the upside, firm break of 1.0915 resistance will start another rising leg back to 1.1138 resistance instead.

Daily Pivots: (S1) 1.0918; (P) 1.0988; (R1) 1.1106; More…

EUR/USD’s rebound from 1.0635 was stronger than expected and broke 1.0981 minor resistance. Further rise will now be in favor as long as 1.0888 minor support holds, for 61.8 retracement of 1.1496 to 1.0635 at 1.1167 next. Considering bullish convergence condition in daily MACD, sustained break of 1.1167 will raise the chance of larger reversal and turn focus to 1.1496 key resistance. On the downside, break of 1.0888 will argue that the rebound has completed and turn bias back to the downside for retesting 1.0635 low.

In the bigger picture, whole down trend form 1.2555 (2018 high) should have resumed. Next target is 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. This level is close to 1.0339 (2017 low). On the upside, break of 1.1496 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 1.1749; (P) 1.1774 (R1) 1.1793; More…

Intraday bias in EUR/USD remains neutral for consolidation below 1.1860 temporary top. Outlook is unchanged that correction from 1.2091 has completed at 1.1553 already. Further rise is expected. Above 1.1860 will target 1.2091 high. However, break of 1.1677 support will turn focus back to 1.1553 low instead.

In the bigger picture, rise from 1.0339 medium term bottom is seen as a corrective move for the moment. Therefore, in case of another rally, we’d be cautious on 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 to limit upside and bring reversal. Meanwhile, sustained trading below 55 week EMA (now at 1.1346) will suggest that such medium term rebound is completed and could then bring retest of 1.0339 low.

Daily Pivots: (S1) 1.1359; (P) 1.1392 (R1) 1.1454; More…..

Intraday bias in EUR/USD remains neutral for the moment with focus on 1.1444 resistance. Break there will resume whole rise from 1.0339 low and target 1.1615 resistance next. In case consolidation from 1.1444 extends with another fall, downside should be contained by 1.1291 resistance turned support to bring rally resumption. Meanwhile, break of 1.1291 will turn focus back to 1.1118 support instead.

In the bigger picture, the firm break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.

Daily Pivots: (S1) 1.1855; (P) 1.1870; (R1) 1.1885; More…

Intraday bias in EUR/USD remains neutral at this point, with focus on 1.1907 resistance. Sustained break there will indicate that fall from 1.2265, as well as the consolidation pattern from 1.2348, have completed. Near term outlook will be turned bullish for 1.2265/2348 resistance zone. However, on the downside, rejection by 1.1907 followed by break of 1.1792 support will dampen the bullish case, and turn bias back to the downside for 1.1663 support instead.

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.