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

EUR/USD recovers after hitting 100% projection of 1.2348 to 1.1951 from 1.2242 at 1.1845. Intraday bias is turned neutral first. We’d continue to pay attention to bottoming signal at current level. On the upside, 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) 1.1708; (P) 1.1762; (R1) 1.1800; More…..

Despite spiking higher to 1.1814, EUR/USD quickly retreated back to range. Intraday bias is turned neutral again. At this point, focus stays on 38.2% retracement of 1.2555 to 1.1300 at 1.1779. Break of 1.1723 minor support will suggest rejection by 1.1779 and would be in line with our original view. In such case, intraday bias will be turned back to the downside for 1.1525 support. However, sustained break of 1.1779 will pave the way to 100% projection of 1.1300 to 1.1733 from 1.1525 at 1.1958.

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) 1.1679; (P) 1.1718; (R1) 1.1748; More…..

Intraday bias in EUR/USD is turned neutral with today’s recovery. Further decline is expected with 1.1771 minor resistance intact. Below 1.1688 will target 1.1612 support first. Break will resume whole corrective fall from 1.2011. Next target is 38.2% retracement of 1.0635 to 1.2011 at 1.1485. Though, break of 1.1771 will turn bias back to the upside for 1.1830 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 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) 0.9770; (P) 0.9808; (R1) 0.9862; More…

With break of 0.9863 support turned resistance, intraday bias in EUR/USD is back on the upside for 55 day EMA (now at 1.0033). Considering bullish convergence condition in Daily MACD, sustained break there 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. On the downside, though, break of 0.9734 minor support will bring retest of 0.9534 low instead.

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) 1.1837; (P) 1.1879; (R1) 1.1946; More…..

EUR/USD is still staying below 1.1965 resistance despite today’s rebound. Intraday bias remains neutral first. Further rise is in favor with 1.1711 support intact. Firm break of 1.1965 will resume larger rise from 1.0635. On the downside, though, break of 1.1711 support should confirm short term topping and turn bias back to the downside for correction.

In the bigger picture, down trend from 1.2555 (2018 high) has completed at 1.0635 already. 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.

Range trading continued in EUR/USD last week and outlook is unchanged. Initial bias stays neutral this week first. On the upside, above 1.0277 minor resistance will target 1.0348 resistance first. Break there will target channel resistance at 1.0469. On the downside, break of 1.0095 minor support will bring retest of 0.9951 low instead.

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 1.0773 resistance holds, in case of strong rebound.

In the long term picture, long term down trend from 1.6039 (2008 high) resuming. Sustained break of 61.8% projection of 1.3993 to 1.0339 from 1.2348 at 1.0090 will pave the way to 100% projection at 0.8694.

Daily Pivots: (S1) 1.1817; (P) 1.1854; (R1) 1.1912; More…..

Intraday bias in EUR/USD remains on the upside for the moment. Current development suggest that consolidation pattern from 1.2011 has completed at 1.1602. Further rally would be seen to retest 1.2011 first. Break will resume whole rally from 1.0635. On the downside, however, break of 1.1791 minor support will mix up the outlook and turn intraday bias neutral 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 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 1.1422 resistance turned support holds.

Daily Pivots: (S1) 1.0950; (P) 1.0980; (R1) 1.1024; More…

Intraday bias in EUR/USD stays on the upside with 1.0933 minor support intact. Current rise from 1.0447 should target 1.1274 resistance next. But strong resistance should be seen there to limit upside. On the downside, below 1.0933 minor support will turn intraday bias neutral and bring consolidations. But further rally will remain in favor as long as 1.0851 support holds.

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) 1.0425; (P) 1.0495 (R1) 1.0529; 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 1.0805 support turned resistance. 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) 1.1196; (P) 1.1218; (R1) 1.1240; More….

Intraday bias in EUR/USD remains neutral at this point and outlook is unchanged. On the downside, break of 1.1168 will target 38.2% retracement of 1.0635 to 1.1422 at 1.1121. Sustained break there will argue that whole rebound from 1.0635 has completed and bring deeper fall to 61.8% retracement at 1.0936. On the upside, break of 1.1348 will likely resume the rise from 1.0635 through 1.1422 to 1.1496 key resistance.

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) 1.0717; (P) 1.0803; (R1) 1.0882; More…

EUR/USD is staying in consolidation from 1.0635 and intraday bias remains neutral. Further rise cannot be ruled out but upside should be limited by 1.0981 resistance to bring fall resumption. On the downside, break of 1.0635 will extend larger down trend for 1.0397 projection target next. However, sustained break of 1.0981 will indicate stronger rebound is underway back towards 1.1496 key resistance.

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) 1.2029; (P) 1.2106; (R1) 1.2151; More…

Intraday bias in EUR/USD is mildly on the downside for the moment. Break of 1.2022 support should confirm the start of the third leg, towards 100% projection of 1.2348 to 1.1951 from 1.2242 at 1.1845. On the upside, above 1.2140 minor resistance will turn bias neutral 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 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) 1.1277; (P) 1.1301; (R1) 1.1322; More…..

EUR/USD’s break of 1.1250 minor support suggests that corrective recovery from 1.1183 has completed at 1.1324 already. Intraday bias is turned back to the downside for 1.1176 key support. Decisive break there will resume whole down trend form 1.2555. On the upside, though, break of 1.1324 will turn bias back to the upside to extend the recovery.

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) 1.2302; (P) 1.2323 (R1) 1.2357; More….

EUR/USD rebounds above 1.2268 minor support today. While intraday bias remains neutral, focus is back on 1.2445. Break there will turn bias back to the upside for 1.2555 high. Decisive break there will carry larger bullish implication. But again, break of 1.2268 will argue that fall from 1.2555 is likely 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) 0.9991; (P) 1.0052; (R1) 1.0108; More…

Intraday bias in EUR/USD remains on the upside as rebound from 0.9863 is extending. Sustained trading above 55 day EMA (now at 1.0169) raise the chance of larger trend reversal, and target 1.0368 resistance. On the downside, below 1.0031 minor support will turn bias back to the downside for retesting 0.9863 low.

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, in case of strong rebound. However, firm break of 1.0368 will confirm medium term bottom at 0.9863 already.

Daily Pivots: (S1) 1.0483; (P) 1.0521; (R1) 1.0545; More…

With 1.0557 minor resistance intact, intraday bias in EUR/USD stays mildly on the downside. Deeper fall would be seen to retest 1.0447. Firm break there will resume whole fall from 1.1274 and target 1.0199 fibonacci level. On the upside, above 1.0557 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.0639 resistance holds.

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 1.0708) holds, in case of rebound.

Daily Pivots: (S1) 1.1309; (P) 1.1321; (R1) 1.1340; More…

Sideway trading continues in EUR/USD and intraday bias remains neutral at this point. On the downside, 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 1.1405) and above.

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) 1.2047; (P) 1.2105; (R1) 1.2135; More…

Intraday bias in EUR/USD remains on the downside with focus on 1.2058 cluster support (38.2% retracement of 1.1602 to 1.2348 at 1.2063). We’d still expect strong support from there. On the upside, break of 1.2131 minor resistance will turn bias to the upside for rebound. However, sustained break of 1.2058 will target 61.8% retracement 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) 1.0323; (P) 1.0376; (R1) 1.0462; More…

EUR/USD’s rally resumed by breaking through 1.0496 and intraday bias is back on the upside. Next target is 1.0609 fibonacci level. On the downside, break of 1.0289 support is needed to indicate short term topping. Otherwise, further rally will remain in favor in case of retreat.

In the bigger picture, a medium term bottom was in place at 0.9534, on bullish convergence condition in daily MACD. Even as a corrective rise, rally from 0.9534 should target 38.2% retracement of 1.2348 (2021 high) to 0.9534 at 1.0609. Sustained trading above 55 week EMA (now at 1.0566) will raise the chance of trend reversal and target 61.8% retracement at 1.1273. This will now remain the favored case as long as 1.0092 resistance turned support holds.

Daily Pivots: (S1) 1.1692; (P) 1.1730 (R1) 1.1781; More…..

EUR/USD’s rebound extends today and intraday bias stays mildly on the upside. While further rally could be seen, upside should be limited by 1.1851 to complete the consolidation pattern. On the downside, below 1.1679 minor support will turn bias back to the downside for retesting 1.1507 low first.

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.