Daily Pivots: (S1) 1.1568; (P) 1.1588; (R1) 1.1612; More…

EUR/USD is staying in consolidation from 1.1561 temporary low and intraday bias remains neutral first. Upside of recovery should be limited by 1.1682 resistance to bring fall resumption. On the downside, break of 1.1561 will target 1.1289 medium term fibonacci level. Nevertheless, sustained break of 1.1682 will bring stronger rebound back towards 1.1908 resistance.

In the bigger picture, sustained break of 1.1602 will argue that rise from 1.0635 (2020 low) has completed at 1.2348. Deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289. Note also that rejection by 55 week EMA (1.1830) also carries medium term bearish implication. Firm break of 1.1289 will pave the way to retest 1.0635 low. On the upside, though, break of 1.1908 resistance will revive medium term bullishness and turn focus back to 1.2348 high.

Daily Pivots: (S1) 1.0800; (P) 1.0848; (R1) 1.0924; More…

EUR/USD’s break of 1.0827 minor resistance suggests that pull back from 1.1016 has completed at 1.0722 already, after drawing support from 55 D EMA. Intraday bias is back on the upside for 1.1016 resistance first. Firm break there will resume whole rally from 1.0447 to retest 1.1274 high. On the downside, break of 1.0722 will resume the fall from 1.1016 instead.

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 55 D EMA will argue that the third leg has already started for 1.0447 and below.

Daily Pivots: (S1) 1.0517; (P) 1.0534; (R1) 1.0569; More…

EUR/USD is staying in consolidation from 1.0447 and intraday bias remains neutral. Outlook will stay bearish as long as 1.0616 resistance holds. Break of 1.0477 will resume the fall from 1.1274 to 1.0199 fibonacci level next. Nevertheless, firm break of 1.0616 will confirm short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 1.1274 medium term top could still be a correction to rise from 0.9534 (2022 low). But chance of a complete trend reversal is rising. In either case, current fall should target 61.8% retracement of 0.9534 to 1.1274 at 1.0199 next. For now, risk will stay on the downside as long as 55 D EMA (now at 1.0759) holds, in case of rebound.

A short term top was in place at 1.1138 in EUR/USD with last week’s pull back. But as it recovered after dipping to 1.0876, initial bias is neutral this week first. On the downside, below 1.0876 will target 1.0722 support next. However, break of 1.0997 will turn bias back to the upside for retesting 1.1138 high instead.

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 1.0722 support will argue that the third leg has already started for 1.0447 and below.

In the long term picture, a long term bottom is in place at 0.9534 on bullish convergence condition in M MACD. It’s still early to call for bullish trend reversal with the pair staying inside falling channel in the monthly chart. Nevertheless, sustained trading above 55 M EMA (now at 1.1073) and break of 1.1274 resistance will raise the chance of reversal and target 1.2348 resistance for confirmation.

Daily Pivots: (S1) 1.0521; (P) 1.0548; (R1) 1.0570; More…

Intraday bias in EUR/USD stays on the downside at this point. Fall from 1.1032 is in progress for 38.2% retracement of 0.9534 to 1.1032 at 1.0463. Strong support could be seen there to bring reversal. But break of 1.0693 resistance is needed to indicate short term bottoming first. Meanwhile, sustained break of 1.0463 will carry larger bearish implications.

In the bigger picture, as long as 1.0482 support holds, rise from 0.9534 (2022 low) should continue to 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. However, sustained break of 1.0482 will bring deeper fall to 61.8% retracement of 0.9534 to 1.1032 at 1.0106, even as a corrective pull back.

Daily Pivots: (S1) 1.1747; (P) 1.1788 (R1) 1.1820; More….

Intraday bias in EUR/USD remains neutral as it’s staying above 1.1716 for consolidation. Another rise cannot be ruled out. But in that case, upside should be limited by 1.1995 resistance to bring fall resumption. On the downside, sustained break of 38.2% retracement of 1.0339 to 1.2555 at 1.1708 will pave the way to 50% retracement at 1.1447 next.

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. Break of 38.2% retracement of 1.0339 to 1.2555 at 1.1708 will pave the way to 61.8% retracement at 1.1186. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 55 day EMA (now at 1.2113) holds.

Daily Pivots: (S1) 1.1706; (P) 1.1724; (R1) 1.1739; More…

Intraday bias in EUR/USD is turned neutral with 4 hour MACD crossed above signal line. 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.

EUR/USD recovered strongly after choppy fall from 1.1249 extended to 1.1051. Initial bias is mildly on the upside for extending the consolidation pattern from 1.1026. Upside should be limited by 1.1249 resistance to bring down trend resumption. Break of 1.1051 will target 1.1026 low and below. However, sustained break of 1.1249 will have 55 day EMA taken out too. Stronger rise should then be seen to 1.1412 key resistance.

In the bigger picture, down trend from 1.2555 (2018 high) is in progress and extending. 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.

In the long term picture, outlook remains bearish for now. EUR/USD is held below decade long trend line that started from 1.6039 (2008 high). It was also rejected by 38.2% retracement of 1.6039 to 1.0339 at 1.2516 before. A break of 1.0039 low will remain in favor as long as 55 month EMA (now at 1.1632) holds.

Daily Pivots: (S1) 1.0920; (P) 1.0966; (R1) 1.1002; More…

Intraday bias in EUR/USD stays neutral for the moment. On the downside, break of 1.0911 will resume the fall from 1.1274 to 1.0832 support. Sustained trading below there will target 1.0609/34 cluster support. However, firm break of 1.1046 minor resistance will argue that pull back from 1.1274 has completed, and bring stronger rebound.

In the bigger picture, a medium term top could be formed at 1.1274, after failing to break through 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 decisively, on bearish divergence condition in D MACD. Sustained trading below 55 D EMA (now at 1.0966) will bring deeper correction 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 set the range for consolidation.

EUR/USD’s decline from 1.1032 resumed last week and dipped to 1.0610. But subsequent recovery indicates that a temporary low was formed. Initial bias is turned neutral this week first. Risk will stay on the downside as long as 1.0803 resistance holds. Below 1.0610 will target 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.

In the long term picture, while it’s too early to call for long term trend reversal at this point, the strong break of 1.0635 support turned resistance (2020 low) should at least turn outlook neutral. Focus will turn to 55 month EMA (now at 1.1189). Rejection by this EMA will revive long term bearishness.

Daily Pivots: (S1) 1.0502; (P) 1.0542 (R1) 1.0576; More…

Intraday bias in EUR/USD remains neutral as range trading continues. Further fall is in favor with 1.0786 resistance intact. On the downside, sustained break of 1.0339/48 will resume larger down trend. Next target is long term projection level at 1.0090.

In the bigger picture, focus stays on 1.0339 long term support (2017 low). Decisive break there will resume whole down trend from 1.6039 (2008 high). Next target is 61.8% projection of 1.3993 to 1.0339 from 1.2348 at 1.0090. However, firm break of 1.0805 support turned resistance will delay this bearish case, and bring stronger rebound first.

Daily Pivots: (S1) 1.1333; (P) 1.1354; (R1) 1.1393; More…

Intraday bias in EUR/USD stays neutral at this point. On the upside, break of 1.1384 minor resistance will indicate short term bottoming at 1.1262, after defending 1.1289 long term fibonacci level. Intraday bias will be turned back to the upside for rebound back to 1.1523 support turned resistance first. On the downside, however, sustained break of 1.1289 will carry larger bearish implication, and extend the fall from 1.2348 to 161.8% projection of 1.1908 to 1.1523 from 1.1691 at 1.1068.

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) 1.1267; (P) 1.1294; (R1) 1.1318; More…

Intraday bias in EUR/USD remains neutral for consolidation below 1.1383 temporary top. Further rally is in favor as long as 1.1195 minor support holds. Above 1.1383 will target a test on 1.1496 key resistance. Though, break of 1.1195 will indicate short term topping ad turn bias to the downside.

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) 1.2219; (P) 1.2242; (R1) 1.2273; More….

Intraday bias in EUR/USD is turned neutral with current retreat. But further rise is expected with 1.2160 support intact. Above 1.2265 will resume the rise from 1.1703 to retest 1.2347 high. Firm break there will resume larger up trend from 1.6039 for 1.2555 cluster resistance next. On the downside, however, break of 1.2160 support will delay the bullish case. Intraday bias will be turned back to the downside to extend the consolidation pattern from 1.2348 with another falling leg.

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) 1.1073; (P) 1.1086; (R1) 1.1108; More…

Intraday bias in EUR/USD remains neutral for the moment. On the upside, above 1.1116 will resume the rise from 1.0981 to 1.1179 resistance. That will also revive the case that correction from 1.1179 has completed and rise from 1.0879 is ready to resume. On the downside, break of 1.0981 will resume the decline from 1.1179 for retesting 1.0879 low instead.

In the bigger picture, rebound from 1.0879 is seen as a corrective move first. 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) 1.1682; (P) 1.1711 (R1) 1.1758; More…..

EUR/USD is still struggling in range above 1.1507 as consolidation is probably extending. Intraday bias remains neutral at this point. In case of stronger recovery, upside should be limited by 1.1851 resistance to bring fall resumption eventually. On the downside , firm break of 1.1507 will resume larger down trend through 50% retracement of 1.0339 to 1.2555 at 1.1447.

In the bigger picture, 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) 1.1344; (P) 1.1393; (R1) 1.1424; More…..

EUR/USD’s strong rise and break of 1.1443 resistance indicates resumption of rebound from 1.1215. Also, considering bullish convergence condition in daily MACD, it’s taken as an early sign of bullish reversal. Intraday bias is now on the upside for 100% projection of 1.1215 to 1.1472 from 1.1270 at 1.1527 first. Break will target 161.8% projection at 1.1686 next. On the downside, however, break of 1.1364 will suggest that the rebound is completed and turn bias back to the downside for 1.1215 low.

In the bigger picture, as long as 1.1814 resistance holds, down trend down trend from 1.2555 medium term top is still in progress 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. However, break of 1.1814 will confirm completion of such down trend and turn medium term outlook bullish.

Daily Pivots: (S1) 1.0544; (P) 1.0587 (R1) 1.0669; More…

EUR/USD is still bounded in consolidation from 1.0470 and intraday bias remains neutral. Another recovery could still be seen. But upside should be limited by 1.0756 support turned resistance to bring fall resumption. Break of 1.0470 will resume larger down trend and target 161.8% projection of 1.1494 to 1.0805 from 1.1184 at 1.0069.

In the bigger picture, the decline from 1.2348 (2021 high) is expected to continue as long as 1.1185 support turned resistance holds. The break of 1.0635 (2020 low) now raises the chance that it’s resuming long term down trend from 1.6039 (2008 high). Retest of 1.0339 (2017 low) low should be seen next. Decisive break there will confirm this bearish case.

Daily Pivots: (S1) 1.0566; (P) 1.0596; (R1) 1.0644; More…

Intraday bias in EUR/USD remains neutral for the moment. On the downside, break of 1.0522 support will turn bias back to the downside for retesting 1.0447 low. Break there will resume larger fall from 1.1274. On the other hand, strong bounce from current level, followed by break above 1.0693, rebound from 1.0447 to 1.0764 cluster resistance (38.2% retracement of 1.1274 to 1.0447 at 1.0763).

In the bigger picture, fall from 1.1274 medium term top could still be a correction to rise from 0.9534 (2022 low). But chance of a complete trend reversal is rising. In either case, current fall should target 61.8% retracement of 0.9534 to 1.1274 at 1.0199 next. For now, risk will stay on the downside as long as 55 D EMA (now at 1.0665) holds, in case of rebound.

Daily Pivots: (S1) 1.0907; (P) 1.0928; (R1) 1.0960; More….

Intraday bias in EUR/USD remains on the upside for the moment. Rally from 1.0601 is in progress and should target 100% projection of 1.0601 to 1.0915 from 1.0665 at 1.0979. On the downside, below 1.0871 minor support will turn intraday bias neutral gain first.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern, possibly a triangle, that’s still be in progress. Break of 1.1138 resistance will be the first signal that rise from 0.9534 (2022 low) is ready to resume through 1.1274 (2023 high). This will now remain the favored case as long as 1.0601 support holds.