Daily Pivots: (S1) 1.0851; (P) 1.0917; (R1) 1.0956; More…

Intraday bias in EUR/USD remains neutral as consolidation from 1.1016 is extending. As long as 1.0851 support holds, further rally is still expected. On the upside, firm break of 1.1016 will resume the rise from 1.0447 to 1.1274 resistance next. But strong resistance should be seen there to limit upside. However, sustained break of 1.0851 will confirm short term topping, and turn bias back to the downside for deeper fall.

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…

EUR/USD’s rally resumed after brief retreat and hits as high as 1.1187. 61.8% retracement of 1.1496 to 1.0635 at 1.1167 is breached and is now the focus. Sustained trading above there will pave the way to retest 1.1496 key resistance. On the downside, break of 1.1081 minor support will suggest rejection by 1.1167 and turn bias to the downside for 1.1108 support first.

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.

EUR/USD stayed in consolidation above 1.0470 last week and outlook is unchanged. Initial bias remains neutral this week first. In case of another recovery, upside should be limited by 1.0756 support turned resistance to bring fall resumption. On the downside, firm break of 1.0470 will resume larger down trend to 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.

In the long term picture, current development suggests that long term down trend from 1.6039 (2008 high) is ready to resume. Break of 1.0339 will target 61.8% projection of 1.3993 to 1.0339 from 1.2348 at 1.0090. Decisive break there could bring downside acceleration towards 100% projection at 0.8694.

Daily Pivots: (S1) 1.1770; (P) 1.1804 (R1) 1.1831; More….

Intraday bias in EUR/USD is turned neutral for consolidation above 1.1762. Near term outlook remains bearish with 1.1995 resistance intact and further decline is expected. Below 1.1762 will resume the fall from 1.2555 for 1.1708 medium term fibonacci level next. Break will target 1.1553 support.

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 1.2162) holds.

Daily Pivots: (S1) 0.9600; (P) 0.9675; (R1) 0.9814; More…

Intraday bias in EUR/USD stays neutral at this point. Consolidation from 0.9534 could extend. But upside should be limited by 0.9863 support turned resistance to bring fall resumption. Break of 0.9534 will resume larger down trend, and target 161.8% projection of 1.0368 to 0.9863 from 1.0197 at 0.9380 next.

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) 1.1816; (P) 1.1857 (R1) 1.1891; More….

EUR/USD’s break of 1.1938 minor resistance indicates short term bottoming at 1.1822, on bullish convergence condition in 4 hour MACD. Intraday bias is back on the upside for further recovery to 4 hour 55 EMA (now at 1.1971) and above. Though, we’d expect strong resistance form 38.2% retracement of 1.2413 to 1.1822 at 1.2048 to limit upside and bring another fall. On the downside, below 1.1822 will resume the whole decline from 1.255 and target 1.1708 medium term fibonacci level next.

In the bigger picture, current decline and firm break of 1.2154 support confirms rejection by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. A medium term top should be in place at 1.2555 and deeper decline would be seen back to 38.2% retracement of 1.0339 to 1.2555 at 1.1708 first. With current downside acceleration, there is prospect of hitting 61.8% retracement at 1.1186 before completing the decline. But still, we’ll need to look at the structure before deciding if it’s a corrective or impulsive move.

Daily Pivots: (S1) 1.1353; (P) 1.1424; (R1) 1.1513; More…

Intraday bias in EUR/USD remains neutral for consolidation from 1.1496. Further rise is in favor as long as 1.1095 support holds. Sustained break of 1.1496 will pave the way to next fibonacci level at 1.1876. However, break of 1.1096 will turn bias back to the downside for retesting 1.0777 low.

In the bigger picture, a medium term bottom should have formed at 1.0777 after drawing support from 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break of 38.2% retracement of 1.2555 to 1.0777 at 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876. Rejection by 1.1456 will suggests that price actions from 1.0777 are merely a correction. Another fall below 1.0777 low would be seen at a later stage in this case.

Daily Pivots: (S1) 1.1260; (P) 1.1292; (R1) 1.1331; More…..

EUR/USD’s recovery from 1.1183 is still in progress and intraday bias remains on the upside. Current rise could extend to 1.1448 resistance and above. But in that case, we’d expect strong resistance between 1.1448/1569 to limit upside. On the downside, below 1.1250 minor support will turn bias to the downside. Decisive break of 1.1176 will resume the down trend from 1.2555.

In the bigger picture, EUR/USD has been losing downside momentum around 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186. But for now, there is no clear sign of medium term reversal yet. Downside from 1.2555 is expected to resume sooner or later as long as 1.1569 structural resistance holds. Decisive break of 1.1186. could pave the way back to 1.0339 low.

Daily Pivots: (S1) 1.1279; (P) 1.1315; (R1) 1.1368; More….

EUR/USD’s break of 1.1348 resistance argues that consolidation pattern from 1.1422 short term top might be over. Intraday bias is back on the upside for 1.1422 first. Break will resume whole rise from 1.0635 to test 1.1496 key resistance. On the downside, though, break of 1.1258 minor support will turn bias back to the downside, to extend the consolidation to 38.2% retracement of 1.0635 to 1.1422 at 1.1121.

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) 1.1223; (P) 1.1274; (R1) 1.1301; More….

Intraday bias in EUR/USD remains neutral for the moment. On the upside, break of 1.1353 will suggest that larger rebound from 1.0635 is resuming. Intraday bias will be back on the upside for 1.1422 and then 1.1496 key resistance. Nevertheless, break of 1.1168 will resume the correction to 38.2% retracement of 1.0635 to 1.1422 at 1.1121.

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) 1.0992; (P) 1.1010; (R1) 1.1027; More…

Downside momentum in EUR/USD is a bit unconvincing for the moment, as seen in 4 hour MACD. But further decline is still expected as long as 1.1085 support turned resistance holds. Decisive break of 1.0981 support should confirm completion of corrective rise from 1.0879 at 1.1239. Further fall should then be seen to retest 1.0879 low.

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) 1.1903; (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) 1.1214; (P) 1.1234; (R1) 1.1254; More…..

Intraday bias in EUR/USD remains neutral for consolidation above 1.1111. Stronger rise and break of 1.1264 cannot be ruled out. But upside should be limited well below 1.1324 resistance to bring fall resumption. On the downside, break of 1.1111 will extend down trend to 100% projection of 1.1448 to 1.1183 from 1.1324 at 1.1059. Break will target 161.8% projection at 1.0895.

In the bigger picture, down trend from 1.2555 (2018 high) has just resumed. 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186 was also taken out. Current fall should now target 78.6% retracement at 1.0813. Sustained break there will pave the way to retest 1.0339. On the downside, break of 1.1448 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.1569; (P) 1.1603; (R1) 1.1664; More…..

Intraday bias in EUR/USD remains mildly on the upside for 1.1733 and possibly above. But still, we’d still expect strong resistance from 38.2% retracement of 1.2555 to 1.1300 at 1.1779 to limit upside, at least on first attempt, to bring near term reversal. On the downside, firm break of 1.1529 will indicate completion of the corrective rebound from 1.1300 and turn bias to the downside for retesting 1.1300 low.

In the bigger picture, a medium term bottom should be in place at 1.1300, on bullish convergence condition in daily MACD and some consolidations would be seen. But still, note that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. That carries some long term bearish implications. Thus, we’d expect fall from 1.2555 high to resume after consolidation completes. Below 1.1300 should send EUR/USD through 61.8% retracement of 1.0339 to 1.2555 at 1.1186. And, in that case, EUR/USD would head to retest 1.0339 (2017 low).

Daily Pivots: (S1) 1.1824; (P) 1.1862; (R1) 1.1884; More…..

Range trading continues in EUR/USD and intraday bias remains neutral at this point. 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) 1.1776; (P) 1.1808; (R1) 1.1857; More…..

EUR/USD’s break of 1.1830 resistance suggests resumption of rebound from 1.1612. Intraday bias is back on the upside and further rise would be seen to retest 1.2011 high. We’d be cautious on strong resistance from 1.2011 to limit upside, to bring another falling leg to extend a consolidation pattern. But strong break there would resume larger rally from 1.0635. On the downside, break of 1.1759 minor support will turn intraday bias neutral again 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 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) 1.1762; (P) 1.1792 (R1) 1.1815; More…..

Intraday bias in EUR/USD remains neutral as it’s staying in tight range below 1.1839. With 1.1713 intact, rise from 1.1509 could extend higher. But still, it’s seen as a correction and upside should be limited by 1.1995 resistance to bring reversal. On the downside, break of 1.1713 minor support will likely resume larger fall from 1.2555 through 1.1509 to 50% retracement of 1.0339 to 1.2555 at 1.1447.

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.

EUR/USD’s rise form 1.0634 accelerated to as high as 1.0969 last week. The development confirmed that fall from 1.1094 has completed at 1.0634 already. Initial bias stays on the upside this week for retesting 1.1094 next. Decisive break there will confirm resumption of whole up trend from 0.9534. On the downside, below 1.0863 minor support will turn intraday bias neutral first.

In the bigger picture, as long as 1.0515 support holds, rise from 0.9534 (2022 low) would still extend higher. Sustained break of 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 will solidify the case of bullish trend reversal and target 1.2348 resistance next (2021 high).

In the long term picture, focus stays on 55 M EMA (now at 1.1134). Rejection by this EMA will revive long term bearishness. However, sustained break above here will be affirm the case of long term bullish reversal and target 1.2348 resistance for confirmation.

Daily Pivots: (S1) 1.1200; (P) 1.1225; (R1) 1.1245; More…..

Intraday bias in EUR/USD remains neutral for the moment. More consolidations could be seen. Still, further decline is in favor as long as 1.1273 minor resistance holds. Sustained break of 1.1176 low will resume whole decline from 1.2555. On the upside, however, break of 1.1273 support turned resistance will confirm short term bottoming. Intraday bias will be turned back to the upside for 1.1448 resistance instead.

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.

EUR/USD edged lower to 1.1523 last week but quickly recovered again. Initial bias stays neutral this week first. Further decline is still in favor as long as 1.1639 minor resistance holds. Break of 1.1523 will resume larger decline towards 1.1289 medium term fibonacci level. On the upside, break of 1.1639 resistance, however, will indicate short term bottoming. intraday bias will be turned back to the upside for stronger rebound, to 55 day EMA (now at 1.1721).

In the bigger picture, price actions from 1.2348 should at least be a correction to rise from 1.0635 (2020 low). As long as 1.1908 resistance holds, deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289. Nevertheless break of 1.1908 resistance will revive medium term bullishness and turn focus back to 1.2348 high.

In the long term picture, EUR/USD has possibly failed 1.2555 cluster resistance (38.2% retracement of 1.6039 to 1.0339 at 1.2516) already. Long term outlook will remain neutral as sideway pattern from 1.0339 (2017 low) is extending with another medium term fall. For now, we’d hold back from assessing the chance of downside breakout, and monitor the momentum of the decline from 1.2348 first.