Daily Pivots: (S1) 1.0935; (P) 1.0968; (R1) 1.1024; More…

EUR/USD’s break of 1.1032 resistance indicate resumption of whole up trend from 0.9534. Intraday bias is stay on the upside for 1.1273 fibonacci level. Break there will target 61.8% projection of 0.9534 to 1.1032 from 1.0515 at 1.1441. On the downside,e below 1.0972 support will turn intraday bias neutral and bring consolidations first. But near term outlook will stay bullish as long as 1.0830 support holds.

In the bigger picture, rise from 0.9534 (2022 low) is in progress for 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 (2021 high). This will now remain the favored case as long as 1.0515 support holds, even in case of deeper pull back.

Daily Pivots: (S1) 1.1378; (P) 1.1407; (R1) 1.1432; More…..

EUR/USD is staying in range of 1.1358/1472 and intraday bias remains neutral first. Also, as long as 1.1499 resistance holds, outlook remains bearish. On the downside, break of 1.1358 minor support should bring retest of 1.1215 low first. Break will resume medium term down trend. However, on the upside, firm break of 1.1499 will indicate near term reversal and turn outlook bullish for 1.1814 resistance again.

In the bigger picture, down trend from 1.2555 medium term top has just resumed 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. On the upside, break of 1.1814 resistance is now needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of strong rebound.

EUR/USD rebounded strongly last week but failed to break through 1.1282 resistance. Initial bias is neutral this week first. With 1.1282 intact, further decline is expected. Break of 1.1133 minor support will turn intraday bias back to the downside for 1.1026. Break of 1.1026 will extend the downtrend from 1.2555. Though, break of 1.1282 will turn focus back to 1.1412 resistance next.

In the bigger picture, current development suggests that down trend from 1.2555 (2018) 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 1.1652) holds.

Daily Pivots: (S1) 1.1022; (P) 1.1079; (R1) 1.1150; More…

Intraday bias in EUR/USD remains neutral with focus on 1.1120 support turned resistance. Firm break there will confirm short term bottoming at 1.0805. Bias will be back on the upside for 55 day EMA (now at 1.1206). Sustained break there will raise the chance of medium term bottoming and target 1.1494 resistance. However, rejection by 1.1120 will maintain near term bearishness. Break of 1.0899 minor support should resume larger down trend from 1.2348 through 1.0805.

In the bigger picture, the decline from 1.2348 (2021 high) is expected to continue as long as 1.1494 resistance holds. Firm break of 1.0635 (2020 low) will raise the chance of long term down trend resumption and target a retest on 1.0339 (2017 low) next. Nevertheless, break of 1.1494 will maintain medium term neutral outlook, and extend range trading first.

Daily Pivots: (S1) 1.0789; (P) 1.0800; (R1) 1.0819; More…

A temporary low should be formed at 1.0777 in EUR/USD with today’s recovery. Intraday bias is turned neutral first some consolidations first. Upside of recovery should be limited well below 1.0992 support turned resistance. On the downside, break of 1.0777 will resume recent down trend.

In the bigger picture, down trend from 1.2555 (2018 high) has just resumed and prior rejection by 55 week EMA affirms medium term bearishness. Sustained break of 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813 will pave the way to retest 1.0339 low. For now, outlook will remain bearish as long as 1.1239 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.1705; (P) 1.1757; (R1) 1.1791; More…..

Intraday bias in EUR/USD stays neutral and outlook is unchanged. As long as 1.1695 support holds, further rise could still be seen. On the upside, break of 1.1916 will target will extend larger rally from 1.0635 to 161.8% projection of 1.0774 to 1.1422 from 1.1255 at 1.2303. However, firm break of 1.1695 should confirm short term topping. Intraday bias will be turned back to the downside to wards 1.1422 resistance turned support.

In the bigger picture, down trend from 1.2555 (2018 high) has completed at 1.0635 already. Rise form 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) 1.0475; (P) 1.0511 (R1) 1.0546; More…

Intraday bias in EUR/USD remains neutral as sideway consolidations 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) 1.1216; (P) 1.1286; (R1) 1.1359; More…

Intraday bias in EUR/USD remains on the upside with 1.1287 minor support intact. Sustained break of 1.1456 fibonacci resistance will pave the way to next fibonacci level at 1.1876. On the downside, below 1.1287 minor support will turn intraday bias neutral and bring retreat first.

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) 1.0848; (P) 1.0920; (R1) 1.0983; More…

Intraday bias in EUR/USD stays on the downside for 1.0768 support. Break there will extend the decline from 1.1147 to retest 1.0635 low. On the upside, break of 1.0990 will target 1.1147 resistance. Overall, price actions from 1.0635 are seen as a consolidation pattern which might extend further. But upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167.

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) 1.0810; (P) 1.0843; (R1) 1.0905; More…

Intraday bias in EUR/USD is turned neutral again as it recovered after dipping to 1.0779. While another fall cannot be ruled out, considering persistent bullish convergence condition in 4H MACD, downside should be contained by 1.0722 key structural support. On the upside, firm break of 1.0886 will confirm short term bottoming, and bring stronger rebound back towards 1.1138 resistance. Nevertheless, decisive break of 1.0722 will argue that whole rise from 1.0447 has completed, and target this 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 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) 1.1889; (P) 1.1909; (R1) 1.1950; More….

Break of 1.1951 support turned resistance suggests short term bottoming at 1.1834. Intraday bias is back on the upside for 55 day EMA (now at 1.2060). Sustained break there will indicate completion of correction from 1.2348 and bring retest of this high. On the downside, however, break of 1.1834 will extend the correction from 1.2348 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) 1.1739; (P) 1.1782 (R1) 1.1814; More….

EUR/USD recovers after dipping to 1.1716 but intraday bias remains on the downside. Sustained break of 38.2% retracement of 1.0339 to 1.2555 at 1.1708 will target 50% retracement at 1.1447 next. However, considering possible bullish convergence condition in 4 hour MACD, break of 1.1821 minor resistance will suggest short term bottoming and bring stronger rebound back to 1.1995 resistance.

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) 1.1718; (P) 1.1756; (R1) 1.1809; More…..

EUR/USD rises further today and intraday bias stays on the upside for 1.1830 minor resistance first. Break will pave the way for retesting 1.2011. On the downside, below 1.1688 should extend the correction from 1.2011 through 1.1612 to 38.2% retracement of 1.0635 to 1.2011 at 1.1485.

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 edged lower to 0.9863 last week, but formed a short term bottom there and rebounded. Initial bias is mildly on the upside this week for 55 day EMA (now at 1.0174). Sustained break there will raise the chance of larger reversal, and target 1.0368 resistance. On the downside, firm break of 0.9863 will resume larger down trend.

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.

In the long term picture, long term down trend from 1.6039 (2008 high) is extending. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. This will now remain the favored case as long as 1.0635 support turned resistance holds.

EUR/USD dropped sharply last week but failed to break 1.1284 support. Initial bias remains neutral this week first. Price action from 1.1185 are seen as corrective move. Break of 1.1284 will argue that larger down trend from 1.2348 is ready to resume. Intraday bias will be back on the downside for retesting 1.1185 low first. Also, in case of another rise, upside should be limited by 38.2% retracement of 1.2265 to 1.1185 at 1.1598 eventually.

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.

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) again. 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.

EUR/USD rebounded further to 1.0887 last week but lost momentum and retreated. Initial bias remains neutral this week first. On the upside, break of 1.0887 and sustained trading above 55 D EMA (now at 1.0831) will affirm the case that fall from 1.1138 has completed. Stronger rally would then be seen back to 1.1138. . However, break of 1.0761 will turn bias back to the downside for retesting 1.0694 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 1.0694 support will argue that the third leg has already started for 1.0447 and possibly 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 1.1059) and break of 1.1274 resistance will raise the chance of reversal and target 1.2348 resistance for confirmation.

Daily Pivots: (S1) 1.1618; (P) 1.1676 (R1) 1.1707; More…..

EUR/USD’s decline resumes after brief recovery and reaches as low as 1.1606 so far. Intraday bias is back on the downside. Current fall from 1.2555 is in progress for 50% retracement of 1.0339 to 1.2555 at 1.1447 next. On the upside, above 1.1727 minor resistance will turn intraday bias neutral again. But after all, near term outlook will remain bearish as long as 1.1995 resistance holds, in case of recovery.

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 55 day EMA (now at 1.2049) holds.

Daily Pivots: (S1) 1.1788; (P) 1.1814; (R1) 1.1855; More…..

Intraday bias in EUR/USD remains neutral as range trading continues. As long as 1.1711 support holds, further rise is mildly in favor. On the upside, break of 1.1965 will extend the whole rise from 1.0635. However, considering bearish divergence condition in 4 hour MACD, break of 1.1711 should confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.1581).

In the bigger picture, down trend from 1.2555 (2018 high) has completed at 1.0635 already. Rise form 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) 1.1953; (P) 1.2018 (R1) 1.2056; More….

EUR/USD’s fall is still in progress and is pressing 161.8% projection of 1.2475 to 1.2214 from 1.2413 at 1.1991. Intraday bias remains on the downside and firm break of 1.1991 will target 200% projection at 1.1891 next. On the upside, above 1.2054 minor resistance will indicate temporary bottoming and turn bias neutral for consolidations. But upside of recovery should be limited well below 1.2214 support turned resistance to bring another decline.

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. We’ll look at the structure and momentum of such decline before decision if it’s an impulsive or corrective move.

EUR/USD fell further to 1.0634 last week but recovered since then. As a temporary top was then formed at 1.0778, initial bias is turned neutral this week first. On the upside, above 1.0778 will resume the rebound from 1.0634 short term bottom to 55 D EMA (now at 1.0829). On the downside, though, 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).

In the long term picture, focus is now 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 next.