Daily Pivots: (S1) 1.1903; (P) 1.1950 (R1) 1.1975; More….

EUR/USD’s recovery from 1.1822 short term bottom could have completed at 1.1995 already, ahead of 38.2% retracement of 1.2413 to 1.1822 at 1.2048. Intraday bias is turned back to the downside for retesting 1.1822 first. Break there will resume whole decline from 1.2555 and target 1.1708 medium term fibonacci level next. In case of another recovery as the correction extends, upside should be limited by 1.2048 to bring fall resumption eventually.

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 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 target 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 1.2179) holds.

Daily Pivots: (S1) 1.2274; (P) 1.2329 (R1) 1.2358; More….

Intraday bias in EUR/USD remains neutral as range trading continues. On the upside, break of 1.2445 will target a test on 1.2555 high. Decisive break there will resume medium term rally and carry larger bullish implication. But again, break of 1.2268 will argue that fall from 1.2555 is resuming. And intraday bias will be turned back to the downside 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.

Daily Pivots: (S1) 1.2152; (P) 1.2171; (R1) 1.2190; More…

Intraday bias in EUR/USD remains mildly on the upside for 1.2222 minor resistance. Break there will bring retest of 1.2348 high. On the downside, however, firm break of 1.2052 support will extend the correction from 1.2348. Intraday bias will be turned back to the downside for 61.8% retracement of 1.1602 to 1.2348 at 1.1887.

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. We’d be alerted to topping sign around 1.2516/55. But sustained break there will carry long term bullish implications.

Daily Pivots: (S1) 1.1518; (P) 1.1559; (R1) 1.1612; More…..

Intraday bias in EUR/USD is turned neutral for consolidation below 1.1601 temporary top. Further rally is still expected as long as 1.1402 support holds. Break of 1.1601 will extend the rise from 1.0635 to 100% projection of 1.0774 to 1.1422 from 1.1168 at 1.1816 next. Nevertheless, break of 1.1402 will indicate short term topping and bring deeper fall to 1.1168 support instead.

In the bigger picture, sustained trading above 1.1496 key resistance will argue that whole down trend from 1.2555 (2018 high) has completed at 1.0635. Rise from 1.0635 would then be seen as the third leg of the pattern from 1.0339. Further medium term rally would be seen to retest 1.2555. This will now be the favored case as long as 1.1168 support holds.

Daily Pivots: (S1) 1.0812; (P) 1.0827; (R1) 1.0852; More…

Intraday bias in EUR/USD stays neutral for the moment, with consolidations from 1.0801 extending. Risk will stay on the downside as long as 55 4H EMA (now at 1.0862) 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) 1.0878; (P) 1.0906 (R1) 1.0957; More….

Intraday bias in EUR/USD remains neutral for the moment. Overall outlook is unchanged, choppy rise from 1.0339 is seen as a corrective move. In case, of another rally, we’ll look for reversal signal again above 1.1020. Break of 1.0838 will turn bias to the downside for 55 day EMA (now at 1.0770). Break there will argue that the corrective rise from 1.0339 is completed and target 1.0569 support for confirmation.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate long term reversal.

Daily Pivots: (S1) 1.1684; (P) 1.1734; (R1) 1.1760; More…

Intraday bias in EUR/USD remains neutral at this point. On the downside, break of 1.1705 will resume larger fall to 1.1602/1703 key support zone again. We’d look for strong support from there to rebound. But sustained break will carry larger bearish implication and target 1.1289 fibonacci support. On the upside, above 1.1804 will target 1.1907 resistance first.

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). 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. Deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289 and below.

Daily Pivots: (S1) 1.2095; (P) 1.2136; (R1) 1.2162; More…..

Intraday bias in EUR/USD stays neutral for consolidation below 1.2177 temporary top. Downside of retreat should be contained by 1.2003 support to bring another rise. On the upside, break of 1.2177 will target 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452 next.

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.

Daily Pivots: (S1) 0.9759; (P) 0.9805; (R1) 0.9891; More…

Range trading continues in EUR/USD and intraday bias remains neutral. Deeper decline is expected with 0.9998 resistance intact. Below 0.9630 will bring retest of 0.9534 low first. Firm break there will resume larger down trend. However, break of 0.9998 will confirm short term bottoming and turn bias back the upside for stronger rebound.

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.

.Daily Pivots: (S1) 1.0680; (P) 1.0697; (R1) 1.0716; More…

EUR/USD retreated after brief breach of 1.0723 support turned resistance and intraday bias remains neutral. Break of 1.0677 support will indicate rejection by 1.0723, and turn bias back to the downside. EUR/USD should then resume larger down trend through 1.0601 low. Nevertheless, firm break of 1.0723 will bring stronger rebound to 55 D EMA (now at 1.0786) instead.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Current fall from 1.1138 is seen as the third leg. While deeper decline is would be seen to 1.0447 and possibly below, Strong support should emerge from 61.8% retracement of 0.9534 to 1.1274 at 1.0199 to complete the correction.

Daily Pivots: (S1) 1.1199; (P) 1.1238; (R1) 1.1266; More…

Intraday bias in EUR/USD is turned neutral again first. On the downside, break of 1.1202 minor support will indicate rejection by 1.1273 fibonacci level. Intraday bias will be back on the downside for deeper pull back to 55 4H EMA (now at 1.1119) and possibly below. Nevertheless, sustained break of 1.1273 will extend larger up trend to 161.8% projection of 1.0634 to 1.1011 from 1.0832 at 1.1442 next.

In the bigger picture, as rise from 0.9534 extends, focus is now on 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. Sustained break there will solidify the case of bullish trend reversal and target 1.2348 resistance next. Meanwhile, outlook will continue to stay bullish as long as 1.0832 support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.1574; (P) 1.1632 (R1) 1.1666; More…

Intraday bias in EUR/USD remains neutral as consolidation from 1.1574 continues. Overall, break of 1.1879 resistance is needed to confirm completion of the decline from 1.2091. Otherwise, near term outlook will stay bearish. Below 1.1574 will target 38.2% retracement of 1.0569 to 1.2091 at 1.1510.

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 will suggest that such medium term rebound is completed and could then bring retest of 1.0339 low.

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) 0.9816; (P) 0.9906; (R1) 0.9976; More…

Intraday bias in EUR/USD stays neutral at this point. On the downside, break of 0.9734 minor support will suggest rejection by 55 day EMA, and medium term falling channel. Bias will be turned back to the downside for retesting 0.9534 low and then resume down trend. Nevertheless, considering bullish convergence condition in daily MACD, sustained break of 55 day EMA (now at 1.0019) will raise the chance of medium term bottoming at 0.9534. Further rally should then be seen to 38.2% retracement of 1.1494 to 0.9534 at 1.0283.

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 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

Daily Pivots: (S1) 1.1180; (P) 1.1234; (R1) 1.1266; More……

EUR/USD recovers mildly today but stays below 1.1268 minor resistance. Intraday bias stays on the downside and further fall could be seen to 1.1107 low. We’d be cautious on strong support from there to bring rebound. On the upside, above 1.1268 minor resistance will turn bias back to the upside for 1.1347 again.

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 1.12347 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) 1.0668; (P) 1.0696; (R1) 1.0727; More…

No change in EUR/USD’s outlook and intraday bias remains neutral. Further rally is in favor as long as 55 4H EMA (now at 1.0646) holds. Decisive break of 1.0764 cluster resistance (38.2% retracement of 1.1274 to 1.0447 at 1.0763) will extend the rise from 1.0447 to 61.8% retracement at 1.0958 next. However, sustained break of 55 4H EMA will argue that the rebound has completed, and target 1.0515 support, and then 1.0447 low.

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 tentatively seen as the second leg. Hence while further rally could be seen, upside should be limited by 1.1274 to bring the third leg of the pattern.

Daily Pivots: (S1) 1.1105; (P) 1.1129; (R1) 1.1158; More…

With 4 hour MACD crossed below signa line, intraday bias in EUR/USD is turned neutral first. We continue to expect strong resistance from 61.8% retracement of 1.1496 to 1.0635 at 1.1167 to complete the consolidation pattern from 1.0635. On the downside, below 1.1008 resistance turned support will turn intraday bias to the downside for 1.0870 support. However, sustained break of 1.1167 will pave the way to 1.1496 key resistance next.

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) 1.1897; (P) 1.1925; (R1) 1.1969; More…

Intraday bias in EUR/USD remains neutral for consolidation above 1.1846. On the downside, break of 1.1846 will resume the fall from 1.2265, as the third leg of the consolidation pattern from 1.2348, to 1.1703 support. On the upside, sustained break of 4 hour 55 EMA (now at 1.1997) will bring stronger rise back to 1.2265 resistance 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 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) 1.0834; (P) 1.0864 (R1) 1.0889; More….

With a temporary low in place at 1.0838 in EUR/USD, intraday bias is turned neutral first. On the downside, below 1.0838 will target 55 day EMA first (now at 1.0760). As noted before, rise from 1.0339 is seen as a corrective move. Break of 55 day EMA will affirm the case that such correction is completed and bring deeper decline to 1.0569 for confirmation. However, above 1.1020 will extend such corrective rise instead.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate long term reversal.

Daily Pivots: (S1) 1.0888; (P) 1.0927; (R1) 1.0960; More…

Intraday bias in EUR/USD stays on the downside at this point. Fall from 1.1138 short term top is in progress for 1.0772 support. Sustained break there will argue that whole rise from 1.0447 has completed, and break deeper fall back to this support. On the upside, however, break of 1.1014 minor resistance will turn bias back to the upside for retesting 1.1138 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.