Daily Pivots: (S1) 1.1563; (P) 1.1620 (R1) 1.1720; More…..

EUR/USD’s recovery from 1.1509 extend to 1.1724 so far and breached 4 hour 55 EMA. Further rise cannot be ruled out. But upside should be limited by 1.1822/1995 resistance zone to bring fall resumption. Below 1.1509 will target 50% retracement of 1.0339 to 1.2555 at 1.1447 first. Break will target 61.8% retracement at 1.1186 next.

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.

Daily Pivots: (S1) 1.1541; (P) 1.1572 (R1) 1.1606; More…..

Intraday bias in EUR/USD remains neutral as consolidative trading continues. In case of another recovery, upside should be limited below 1.1851 resistance to bring fall resumption. Firm break of 1.1509 will resume larger decline from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186.

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.

Daily Pivots: (S1) 1.1311; (P) 1.1340; (R1) 1.1365; More….

Intraday bias in EUR/USD remains on the downside for 1.1300 key support. Decisive break there will resume the whole down trend from 1.2555 and target 1.1186 fibonacci level next. On the upside, though, break of 1.1499 resistance will turn bias back to the upside for another rebound. But after all, price actions from 1.1300 are seen as developing into a corrective pattern. So, down trend resumption would just be delayed.

In the bigger picture, price actions from 1.1300 is seen as a corrective pattern. Decisive break of 1.1300 will resume the down trend from 1.2555 to 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. In case the consolidation from 1.1300 extends, upside should be limited by 1.1814 and 38.2% retracement of 1.2555 to 1.1300 at 1.1779. to bring down trend resumption eventually.

Daily Pivots: (S1) 1.2033; (P) 1.2073; (R1) 1.2103; More…

Intraday bias in EUR/USD remains neutral and risk stays on the downside with 1.2242 resistance intact. It’s seen as staying in corrective pattern from 1.2348. Break of 1.1990 will extend the pattern through 1.1951 support, to 100% projection of 1.2348 to 1.1951 from 1.2242 at 1.1845.

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) 1.2335; (P) 1.2364 (R1) 1.2408; More….

Intraday bias in EUR/USD remains neutral with focus on 1.2396 resistance. Break there will resume the rise from 1.2214. IN that case, EUR/USD will likely surge through 1.2475 to 1.2516/2555 key resistance zone. On the downside, break of 1.2302 minor support will indicate completion of the rebound from 1.2214. Intraday bias would be turned back to the downside for 1.2214. Firm break there will revive the bearish case of trend reversal.

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 in medium term.

Daily Pivots: (S1) 1.0941; (P) 1.0960; (R1) 1.0993; More…

Intraday bias in EUR/USD remains neutral for consolidation above 1.0926. 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) 1.0937; (P) 1.0978; (R1) 1.1020; More…

Intraday bias in EUR/USD is turned neutral with 4 hour MACD crossed below signal line. 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) 1.1332; (P) 1.1375; (R1) 1.1448; More…..

Intraday bias in EUR/USD remains on the upside at this point. The current development suggests that corrective pattern from 1.1215 is still extending, with rise from 1.1289 as another leg. Further rally would be seen to 1.1569 resistance and above. On the downside, break of 1.1289 is needed to confirm resumption of fall from 1.1569. Otherwise, risk will stay on the upside in case of retreat.

In the bigger picture, as long as 1.1814 resistance holds, down trend down trend from 1.2555 medium term top is still in progress 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. However, break of 1.1814 will confirm completion of such down trend and turn medium term outlook bullish.

Daily Pivots: (S1) 1.1414; (P) 1.1450; (R1) 1.1476; More…..

EUR/USD is still staying below 1.1499 resistance and intraday bias remains neutral for now. No change in the view that price actions from 1.1215 are still viewed as a corrective pattern. Hence, downside breakout is favored. On the downside, break of 1.1307 minor support will turn bias back to the downside for 1.1215 low. Break will resume down trend from 1.2555 to 1.1186 key fibonacci level. Nevertheless, sustained break of 1.1499 resistance will suggest near term reversal and bring stronger rebound back to 1.1621 resistance first.

In the bigger picture, as long as 1.1814 resistance holds, down trend down trend from 1.2555 medium term top is still in progress 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. However, break of 1.1814 will confirm completion of such down trend and turn medium term outlook bullish.

Daily Pivots: (S1) 1.0769; (P) 1.0817; (R1) 1.0860; More…

EUR/USD’s fall from 1.1147 is still in progress and intraday bias stays on the downside. Deeper decline should be seen to retest 1.0635 low first. Decisive break there will resume larger down trend. On the upside, above 1.0902 minor resistance will extend the correction from 1.0635. Intraday bias will be turned back to the upside for 61.8% retracement of 1.1496 to 1.0635 at 1.1167 again.

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) 0.9933; (P) 0.9992; (R1) 1.0029; More…

Intraday bias in EUR/USD remains neutral first and outlook stays bearish. On the downside, firm break of 0.9863 support will resume larger down trend. Next target is 100% projection of 1.0368 to 0.9863 from 1.0197 at 0.9296. On the upside, break of 1.0197 resistance will now raise the chance of larger trend reversal, and target 1.0368 resistance.

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.

Daily Pivots: (S1) 1.1972; (P) 1.2024; (R1) 1.2122; More…..

EUR/USD surges to as high as 1.2083 so far today. The break of 1.2011 high confirms resumption of whole rally from 1.0635 low. Intraday bias is back 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 1.1923 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) 1.0933; (P) 1.0972; (R1) 1.0995; More…

EUR/USD’s break of 1.0891 support suggests short term topping at 1.1011, on bearish divergence condition in 4H MACD. Fall from 1.1011 is seen as the third leg of the corrective pattern from 1.1094. Intraday bias is back on the downside for 55 D EMA (now at 1.0838). Firm break there will target 1.0634 support and below. Nevertheless, rebound from current level, followed by break of 1.1011 will target a test on 1.1094 high instead.

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).

Daily Pivots: (S1) 1.0906; (P) 1.0936; (R1) 1.0961; More…

Intraday bias in EUR/USD remains neutral as range trading continues. On the downside break of 1.0876 will resume the fall from 1.1138 short term top to 1.0722 support next. However, 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.

Daily Pivots: (S1) 1.0440; (P) 1.0516; (R1) 1.0554; More…

Intraday bias in EUR/USD is back on the downside with break of 1.0487. Fall from 1.1274 is resuming and should target 1.0199 fibonacci level next. On the upside, break of 1.0616 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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 1.0759) holds, in case of rebound.

Daily Pivots: (S1) 1.1454; (P) 1.1494; (R1) 1.1556; More….

EUR/USD weakens notably after hitting 4 hour 55 EMA. But it’s staying above 1.1431 support. Intraday bias remains neutral first. Also, near term outlook will still remain mildly bearish as long as 1.1621 resistance holds. On the downside, break of 1.1431 will resume the fall form 1.1814 to retest 1.1300 low. Nonetheless, break of 1.1621 will turn focus back to 1.1814 instead.

In the bigger picture, corrective pattern from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300 at 1.1779. Decisive break of 1.1300 will resume the down trend from 1.2555 to 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 will delay the bearish case and extend the correction from 1.1300 with another rise before completion.

Daily Pivots: (S1) 1.1661; (P) 1.1698; (R1) 1.1732; More…..

At this point, the rebound from 1.1300 is still in progress and further rise would be seen. But 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, break of 1.1529 minor will indicate completion of the rebound and turn bias to the downside for retesting 1.1300 low. After all, consolidation from 1.1300 will extend for a while before completion.

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) 1.1601; (P) 1.1643; (R1) 1.1673; More…..

A temporary low is formed at 1.1612 with today’s recovery and intraday bias is turned neutral in EUR/USD. Further decline is in favor as long as 1.1752 support turned resistance holds. Break of 1.1612 will resume the decline from 1.2011 short term top to 38.2% retracement of 1.0635 to 1.2011 at 1.1485. However, firm break of 1.1752 will suggest that the corrective pull back has completed. Intraday bias will be turned back to the upside for retesting 1.2011.

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) 1.0819; (P) 1.0839; (R1) 1.0876; More…

EUR/USD’s rally resumed after brief consolidations and intraday bias is back on the upside. Current rise form 0.9534 should target 61.8% projection of 0.9630 to 1.0733 from 1.0482 at 1.1164 next. On the downside, though, break of 1.0765 support should now indicate short term topping, and turn bias back to the downside for 55 day EMA (now at 1.0532).

In the bigger picture, current development suggests that the rally from 0.9534 low (2022 low) is a medium term up trend rather than a correction. Further rise is in favor to 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 next. This will remain the favored case as long as 1.0482 support holds.

Daily Pivots: (S1) 1.1468; (P) 1.1659 (R1) 1.1756; More…..

EUR/USD recovers mildly but intraday bias stays on the downside for 1.1509 low. Break there will confirm resumption of larger decline from 1.2555. EUR/USD should take out 50% retracement of 1.0339 to 1.2555 at 1.1447 with ease to 61.8% retracement at 1.1186. On the upside, above 1.1659 minor resistance will delay the bearish case and bring more consolidation first.

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.