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) 0.9975; (P) 1.0031; (R1) 1.0070; More…

EUR/USD’s break of 1.0092 resistance now confirms resumption of whole rebound from 0.9534. Intraday bias is back on the upside for 38.2% retracement of 1.1494 to 0.9534 at 1.0283, even as a corrective rise. Sustained break there will target 55 week EMA (now at 1.0567). On the downside, break of 0.9934 will dampen the bullish case and turn intraday bias neutral first.

In the bigger picture, break of the medium term channel resistance, bullish convergence condition in daily MACD, as well as some support from 55 day EMA are bullish signs. A medium term bottom should be in place at 0.9534. Stronger rebound should be seen back towards 55 week EMA (now at 1.0567). It’s still early to conclude that the medium term trend is reversing, at least until sustained break of 55 week EMA.

Daily Pivots: (S1) 1.1815; (P) 1.1874; (R1) 1.1903; More….

EUR/USD’s correction from 1.2348 reached as high as 1.1834 so far, and met 100% projection of 1.2348 to 1.1951 from 1.2242 at 1.1845 already. We’d pay attention to bottoming signal at current level. Break of 1.1951 support turned resistance will indicate short term bottoming and turn bias to the upside. However, decisive break of 1.1845 will extend the correction to 38.2% retracement of 1.0635 to 1.2348 at 1.1694.

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) 0.9925; (P) 0.9979; (R1) 1.0016; More…

Intraday bias in EUR/USD remains 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.

EUR/USD stayed in range of 1.1193/1285 last week and initial bias remains neutral this week first. On the downside, break of 1.1193 will resume the fall from 1.1412 to retest 1.1107 low. On the upside, above 1.1285 resistance will turn bias back to the upside for 1.1412 resistance.

In the bigger picture, on the one hand, 1.1107 is seen as a medium term bottom on bullish convergence condition in weekly MACD. On the other hand, rejection by 55 week EMA retains medium term bearishness. Outlook stays neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

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 1.1658) holds).

Daily Pivots: (S1) 1.1501; (P) 1.1551 (R1) 1.1623; More…..

EUR/USD’s rebound form 1.1300 is still in progress and reaches as high as 1.1600 so far. Intraday bias remains on the upside for further rally. But upside should be limited by 1.1745 resistance to bring larger down trend resumption. On the downside, break of 1.1493 minor support will suggest that the rebound is completed. Intraday bias would be turned back to the downside for retesting 1.1300 low.

In the bigger picture, the down trend from 1.2555 medium term is in progress for 61.8% retracement of 1.0339 to 1.2555 at 1.1186. Note again 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. Sustained break of 1.1186 could pave the way back to retest 1.0339 low. For now, outlook will remain bearish as long as 38.2% retracement of 1.2555 to 1.1300 at 1.1779 holds, even in case of strong rebound.

Daily Pivots: (S1) 1.1779; (P) 1.1805; (R1) 1.1856; More…..

Intraday bias in EUR/USD remains on the upside for retesting 1.2011 high. Firm break there will confirm resumption of rally from 1.0635 and target 61.8% projection of 1.0635 to 1.2011 from 1.1612 at 1.2462. On the downside, break of 1.1732 minor support will dampen this bullish view and turn focus back to 1.1612 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 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.

EUR/USD turned into range trading above 1.0876 last week. Initial bias stays neutral this week first, but further fall is in favor as long as 1.0997 minor resistance intact. Break of 1.0876 will resume the fall from 1.1138 to 1.0722 support next. Nevertheless, firm 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 1.1078) and break of 1.1274 resistance will raise the chance of reversal and target 1.2348 resistance for confirmation.

Daily Pivots: (S1) 1.1914; (P) 1.1955 (R1) 1.1999; More….

EUR/USD reaches as low as 1.1897 so far as recent decline continues. Intraday bias remains on the downside for 200% projection of 1.2475 to 1.2214 from 1.2413 at 1.1891. Firm break will target 261.8% projection at 1.1730. Meanwhile, considering diminishing downside momentum as seen in 4 hour MACD, break of 1.1977 minor resistance will indicate short term bottoming. In that case, intraday bias will be turned to the upside for 4 hour 55 EMA (now at 1.2064) or above for rebound.

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 to before deciding if it’s a corrective or impulsive move.

Daily Pivots: (S1) 1.1020; (P) 1.1052; (R1) 1.1070; More…

EUR/USD’s retreat from 1.1138 extends lower today but stays well above 1.0929 support. Intraday bias remains neutral for the moment. Further rally is expected as long as 1.0929 support holds. Break of 1.1138 will resume the rise from 1.0447 to retest 1.1274 high. Strong resistance should be seen from there to limit upside, at least on first attempt. Meanwhile, break of 1.0929 will indicate short term topping and turn bias back to the downside for 1.0772 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 1.0722 support will argue that the third leg has already started for 1.0447 and below.

Daily Pivots: (S1) 1.2065; (P) 1.2092; (R1) 1.2143; More…..

EUR/USD’s rally is still in progress and intraday bias stays on the upside for 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452 next. On the downside, break of 1.2040 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

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) 1.0871; (P) 1.0925; (R1) 1.0955; More…

Intraday bias in EUR/USD remains neutral first. Another rise is mildly in favor as long as 1.0833 minor support holds. Corrective pattern from 1.0635 is in its third leg. Above 1.1019 will target 1.1147 resistance. But upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0833 will turn bias back to the downside for 1.0727 support and then 1.0635 low.

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) 1.2128; (P) 1.2149; (R1) 1.2175; More…..

EUR/USD’s up trend resumes by breaking 1.2177 resistance. Intraday bias is back on the upside. Current rise should target 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452 next. On the downside, break of 1.2058 support is needed to indicate short term topping. Otherwise, outlook will remain 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.

Daily Pivots: (S1) 1.1798; (P) 1.1833; (R1) 1.1853; More…..

EUR/USD recovered after hitting 4 hour 55 EMA but stays below 1.1880 temporary top. Intraday bias remains neutral first. Further rise is expected as long as 1.1688 support holds. Break of 1.1880 will target a test on 1.2011 high. Nevertheless, break of 1.1688 will likely resume the correction from 1.2011, and turn bias to the downside for 1.1612 and below.

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) 1.1272; (P) 1.1301; (R1) 1.1335; More…

EUR/USD’s rebound from 1.1120 accelerates higher today and intraday bias stays on the upside for 1.1482 resistance. Considering bullish convergence condition in daily MACD, a medium term bottom could be in place already. Break of 1.1482 will affirm this case and target 38.2% retracement of 1.2348 to 1.1120 at 1.1639 next. On the downside however, break of 1.1265 minor support will retain near term bearishness, and flip bias back to the downside for retesting 1.1120 low instead.

In the bigger picture, the strength of the the decline from 1.2348 (2021 high) suggests that it’s not a corrective move. But still, it could be 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 1.1482 resistance holds. Next target would be 1.0635 low. However, firm break of 1.1482 will raise the chance that whole fall from 1.2348 has completed, and turn focus back to 1.1703 resistance for confirmation.

Daily Pivots: (S1) 1.0892; (P) 1.0934; (R1) 1.0966; More…

Intraday bias in EUR/USD remains mildly on the upside at this point. Corrective pattern from 1.0635 is in another rising leg. Further rise could be seen to 1.1019 resistance and above. But still, upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0774 should turn bias back to the downside for retesting 1.0635 low.

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) 1.0776; (P) 1.0793; (R1) 1.0813; More…

EUR/USD’s break of 1.0764 support confirms resumption of whole decline from 1.1274. Intraday bias is back on the downside for 1.0609/34 cluster support next. On the upside, above 1.0808 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.0944 resistance holds, in case of recovery.

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. However, sustained break of 1.0609/34 will raise the chance of bearish trend reversal, and target 61.8% retracement at 1.0199.

Daily Pivots: (S1) 1.1700; (P) 1.1735 (R1) 1.1779; More…..

Intraday bias in EUR/USD remains neutral at this point. On the downside, break of 1.1679 will indicate that corrective rise from 1.1507 has completed. Intraday bias should then be turned back to the downside for retesting 1.1507. Firm break there will resume larger fall from 1.2555. Above 1.790 will extend the corrective rice. But upside be limited by 1.1851 resistance to bring reversal.

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) 1.1746; (P) 1.1776; (R1) 1.1831; More…..

Intraday bias in EUR/USD stays neutral first but focus is back on 1.1908 temporary top with current rebound. Break there will resume whole rise from 1.0635. Next target will be 161.8% projection of 1.0774 to 1.1422 from 1.1255 at 1.2303. nevertheless, on the downside, break of 1.1695 support should finally confirm 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) 1.0637; (P) 1.0687; (R1) 1.1.0739; More…

Intraday bias in EUR/USD is turned neutral again with today’s recovery. Considering bullish convergence condition in 4H MACD, break of 1.0745 minor resistance will indicate short term bottoming at 1.0634. Intraday bias will then be back on the upside for rebound to 55 D EMA (now at 1.0836). Nevertheless, break of 1.0634 will resume the fall from 1.1094 to 1.0515 cluster support, 38.2% retracement of 0.9534 to 1.1094 at 1.0498.

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).