Daily Pivots: (S1) 1.2085; (P) 1.2115; (R1) 1.2148; More…

EUR/USD’s break of 1.2168 resistance suggests that that rebound form 1.1951 is resuming. Intraday bias is back on the upside for 1.2188 resistance first. Firm break there should confirm completion of the correction from 1.2348, and bring retest on this high. On the downside, though, break of 1.2090 minor support will turn bias neutral again. Further break of 1.1951 will extend the correction from 1.2348 with another fall.

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

EUR/USD is staying in consolidation from 1.1846 and intraday bias remains neutral. 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 1.1994) 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) 1.0818; (P) 1.0840; (R1) 1.0852; More…

Intraday bias in EUR/USD remains on the downside with 1.0888 minor resistance intact. Current down trend should target 161.8% projection of 1.1172 to 1.0992 from 1.1095 at 1.0804 next. On the upside, above 1.0888 minor resistance will turn intraday bias neutral and bring consolidations first. But recovery should be limited by 1.0992 support turned resistance to bring fall resumption.

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) 1.1502; (P) 1.1596; (R1) 1.1657; More…

Intraday bias in EUR/USD remains mildly on the downside for retesting 1.1523 support. Break there will resume the fall from 1.2265, and that from 1.2348 too, for long term fibonacci level at 1.1289 next. For now, further decline is expected as long as 1.1691 resistance holds, in case of recovery.

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.

Daily Pivots: (S1) 1.0893; (P) 1.0918; (R1) 1.0957; More…

Intraday bias in EUR/USD remains neutral as recovery from 1.0879 temporary low extends. Outlook remains bearish as long as 1.1109 resistance holds. Medium term down trend is expected to continue and break of 1.0879 will target 1.0813 fibonacci level next.

In the bigger picture, down trend from 1.2555 (2018 high) is in progress. 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 confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.0853; (P) 1.0881; (R1) 1.0907; More…

EUR/USD’s rebound from 1.0777 extends further to as high as 1.0978 today. The strength suggests that it’s corrective whole fall from 1.1239 to 1.0777. Intraday bias remains on the upside for 61.8% retracement of 1.1239 to 1.0777 at 1.1063 next. We’d expect strong resistance from there to limit upside. Below 1.0890 minor support will turn bias to the downside for retesting 1.0777 low. However, sustained break of 1.1063 will raise the chance of larger reversal and target 1.1239 key resistance.

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) 1.2148; (P) 1.2171; (R1) 1.2199; More…

Intraday bias in EUR/USD remains neutral as range trading continues. On the upside, above 1.2265 will resume the rise from 1.1703 to retest 1.2348 high. On the downside, below 1.2103 will target 1.1985 support. Break there will confirm that consolidation pattern from 1.2348 has started the third leg. Deeper fall would then be seen back to 1.1703 support.

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.

Daily Pivots: (S1) 1.1600; (P) 1.1630; (R1) 1.1653; More…..

At this point, intraday bias stays mildly on the upside and EUR/USD could target 1.1733 and possibly above. But still, we’d 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. In such case, intraday bias will be turned back 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) 1.2174; (P) 1.2200; (R1) 1.2237; More…

EUR/USD drops mildly today but intraday bias remains neutral first. On the upside, above 1.2265 will resume the rise from 1.1703 to retest 1.2348 high. On the downside, firm break of 1.1985 support should confirm that consolidation pattern from 1.2348 has started the third leg. Deeper fall would then be seen back to 1.1703 support.

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.

Daily Pivots: (S1) 1.0366; (P) 1.0428 (R1) 1.0489; More…

EUR/USD is still holding in range above 1.0339/58 support zone and intraday bias remains neutral first. Further decline is expected as long as 1.0614 resistance holds. On the downside, sustained break of 1.0339/48 will resume larger down trend. Next target is long term projection level at 1.0090. On the upside, above 1.0614 will turn bias back to the upside for 1.0786 resistance instead.

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) 1.1678; (P) 1.1729 (R1) 1.1759; More…

EUR/USD reaches as low as 1.1669 so far as fall from 1.2091 extends. Intraday bias remains on the downside for 38.2% retracement of 1.0569 to 1.2091 at 1.1510. Such decline is seen as a correction to whole rise from 1.0569. We’re expecting support from 1.1510 to bring rebound. On the upside, break of 1.1832 minor resistance will suggest that the corrective fall is completed and turn bias back to the upside.

In the bigger picture, rise from medium term bottom at 1.0339 is not finished yet. It’s expected to continue after pull back from 1.2091 completes. And, next target will be 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. However, it should be noted that there is no confirmation of trend reversal yet. That is, such rebound from 1.0399 could be a correction. And the long term fall from 1.6039 (2008 high) could resume. Hence, we’d be cautious on strong resistance from 1.2516 to limit upside.

Daily Pivots: (S1) 1.0082; (P) 1.0141; (R1) 1.0204; More…

EUR/USD’s rebound from 0.9951 is still in progress and intraday bias stays on the upside for 1.0348 support turned resistance. Break there will target channel resistance at 1.0514. On the downside, below 1.0118 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 rebound.

Daily Pivots: (S1) 1.0990; (P) 1.1014; (R1) 1.1059; More…

EUR/SUD is staying in consolidation from 1.0926 and intraday bias remains neutral first. Stronger recovery might be seen. But upside should be limited below 1.1164 resistance to bring fall resumption. Break of 1.0926 will target 100% projection of 1.1412 to 1.1026 from 1.1249 at 1.0683. However, firm break of 1.1164 will turn near term outlook bullish for 1.1412 key resistance.

In the bigger picture, down trend from 1.2555 (2018 high) 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.

Daily Pivots: (S1) 0.9793; (P) 0.9850; (R1) 0.9891; More…

Intraday bias in EUR/USD remains on the downside for the moment. Current down trend should target 100% projection of 1.0368 to 0.9863 from 1.0197 at 0.9692. Firm break there could prompt downside acceleration and target 161.8% projection at 0.9380. On the upside, above 0.9906 minor resistance will turn intraday bias neutral first. But outlook will stay bearish as long as 1.0197 resistance holds, 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, 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) 1.0790; (P) 1.0839; (R1) 1.0868; More…

Intraday bias in EUR/USD remains neutral with focus on 1.0885 minor resistance. Break there will extend the corrective pattern from 1.0635 with another rise through 1.0990. But upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0727 will target a test on 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) 1.0593; (P) 1.0642; (R1) 1.0719; More…

Intraday bias in EUR/USD stays mildly on the upside for the moment. Corrective decline from 1.1032 should have completed with three waves down to 1.0532 already. Further rise should be seen to 1.0803 resistance first. Firm break there will pave the way to retest 1.1032 high. For now, risk will stay mildly on the upside as long as 1.0532 support holds, in case of retreat.

In the bigger picture, as long as 1.0482 support holds, rise from 0.9534 (2022 low) should continue to 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. However, sustained break of 1.0482 will bring deeper fall to 61.8% retracement of 0.9534 to 1.1032 at 1.0106, even as a corrective pull back.

Daily Pivots: (S1) 1.0498; (P) 1.0577 (R1) 1.0638; More…

EUR/USD’s decline is still in progress and intraday bias remains neutral. Sustained break of 100% projection of 1.1494 to 1.0805 from 1.1184 at 1.0495 will pave the way to 161.8% projection at 1.0069. On the upside, above 1.0654 minor resistance will turn bias neutral and bring consolidations. But upside should be limited by 1.0756 support turned resistance to bring fall resumption.

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.

Daily Pivots: (S1) 1.0796; (P) 1.0863; (R1) 1.0900; More…

A temporary top is formed at 1.0929 in EUR/USD with current retreat. Intraday bias is turned neutral first. Further rally is in favor as long as 4 hour 55 EMA (now at 1.0739) holds. Above 1.0929 will target 1.1032 high first. Decisive break there will resume whole up trend from 0.9534 and target 1.1273 fibonacci level next. However, firm break of 4 hour 55 EMA will likely extend the corrective pattern from 1.1032 and bring deeper decline back towards 1.0515.

In the bigger picture, rise from 0.9534 (2022 low) is in progress with 38.2% retracement of 0.9534 to 1.1032 at 1.0460 intact. The strong support from 55 week EMA (now at 1.0623) was also a medium term bullish sign. Next target is 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. Sustained break there will solidity the case of bullish trend reversal and target 1.2348 resistance next (2021 high).

Daily Pivots: (S1) 1.1625; (P) 1.1685 (R1) 1.1721; More…..

Intraday bias in EUR/USD remains neutral as it’s staying in converging range. On the downside, below 1.1612 will argue that larger fall from 1.2555 is possibly ready to resume. Intraday bias will be turned to the upside for 1.1507 low. Break will confirm and should target 50% retracement of 1.0339 to 1.2555 at 1.1447 and then 61.8% retracement at 1.1186. In case, the consolidation extends, upside should be limited by 1.1851 resistance to bring fall resumption eventually.

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) 1.0916; (P) 1.0961; (R1) 1.1044; More…

Outlook is EUR/USD remains unchanged. Rebound from 1.0777 is seen as a correction to fall from 1.1239 to 1.0777. Upside should be limited by 61.8% retracement of 1.1239 to 1.0777 at 1.1063. On the downside, break of 1.0931 will turn bias to the downside for retesting 1.0777 low. However, sustained break of 1.1063 will raise the chance of larger reversal and target 1.1239 key resistance.

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.