Daily Pivots: (S1) 1.1922; (P) 1.1945 (R1) 1.1977; More…

Breach of 1.1994 minor resistance argues that pull back from 1.2091 has completed. Intraday bias is turned to the upside for 1.2091 first. Break will extend larger rise from 1.0339 and target next key fibonacci level at 1.2516. In any case, outlook will remain bullish as long as 1.1822 support holds. But considering bearish divergence condition in 4 hour MACD, break of 1.1822 will confirm short term topping and bring deeper fall back to 1.1661 support and below.

In the bigger picture, rise from medium term bottom at 1.0339 is still in progress for 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 fro 1.6039 (2008 high) could resume. Hence, we’d be cautious on strong resistance from 1.2516 to limit upside. But after all, break of 1.1661 is needed to indicate medium term topping. Otherwise, outlook will remain bullish in case of pull back.

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) 1.1371; (P) 1.1388; (R1) 1.1407; More…..

EUR/USD formed a temporary low at 1.1370 and intraday bias is turned neutral first. But further decline is expected as long as 1.1489 minor resistance holds. We’re holding on to the case that corrective rise from 1.1215 has completed earlier than expected at 1.1569. Deeper fall should be seen to 1.1307 support. Break there will likely resume larger down trend from 1.2555 through 1.1215 low. On the upside, above 1.1489 minor resistance will turn bias back to the upside for 1.1569 instead.

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) 1.0820; (P) 1.0878; (R1) 1.0907; More…

Intraday bias in EUR/USD stays on the downside for the moment. Fall from 1.1094 short term top is seen as correcting whole up trend from 0.9534. Deeper decline would be seen to 1.0515 cluster support, 38.2% retracement of 0.9534 to 1.1094 at 1.0498. On the upside, though, above 1.0941 resistance will turn bias back to the upside for retesting 1.1094 high.

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) 1.0555; (P) 1.0587; (R1) 1.0642; More…

Intraday bias in EUR/USD stays neutral for the moment. The decline from 1.1032 might still extend lower, but strong support could be seen around 38.2% retracement of 0.9534 to 1.1032 at 1.0463 to bring rebound, at least on first attempt. Break of 1.0668 support turned resistance will turn bias back to the upside for 1.0803 resistance and above. However, sustained break of 1.0463 will carry larger bearish implications.

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) 1.0130; (P) 1.0175 (R1) 1.0207; More…

EUR/USD falls to as low as 1.0070 so far and met 1.0090 long term projection level. Intraday bias stays on the downside. Firm break of 1.0090 will target 100% projection of 1.1184 to 1.0348 from 1.0773 at 0.9937, which is close to parity. On the upside, above 1.0276 minor resistance will turn intraday bias neutral and bring consolidations first. But recovery should be limited below 1.0614 resistance to bring another fall.

In the bigger picture, the break of 1.0339 long term support (2017 low) indicates resumption of 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. Sustained break there will pave the way to 100% projection at 0.8694. In any case, outlook will stay bearish as long as 1.0786 resistance holds, in case of recovery.

Daily Pivots: (S1) 1.1211; (P) 1.1237; (R1) 1.1251; More…..

EUR/USD weakens notably after rejection by 1.1264 resistance, but stays in consolidation from 1.1111. Intraday bias remains neutral and outlook is unchanged. In case of another rise, upside should be limited well below 1.1324 resistance to bring fall resumption. On the downside, below 1.1173 minor support will turn bias to the downside for 1.1111 low. Break will extend down trend to 100% projection of 1.1448 to 1.1183 from 1.1324 at 1.1059. Break will target 161.8% projection at 1.0895.

In the bigger picture, down trend from 1.2555 (2018 high) has just resumed. 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186 was also taken out. Current fall should now target 78.6% retracement at 1.0813. Sustained break there will pave the way to retest 1.0339. On the downside, break of 1.1448 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.1074; (P) 1.1109; (R1) 1.1159; More…

EUR/USD’s decline is in progress and intraday bias stays on the downside. Current fall is part of the down trend from 1.2348. Next target is 61.8% projection of 1.2265 to 1.1120 from 1.1494 at 1.0786. On the upside, break of 1.1273 resistance is needed to be the first sign of bottoming. Otherwise, outlook stays bearish in case of recovery.

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) 1.1035; (P) 1.1060; (R1) 1.1099; More…

EUR/USD’s rebound from 1.0879 extends higher and further rise could be seen. But still, it’s seen as a corrective move and upside should be limited by 1.1109 resistance to bring down trend resumption. On the downside, break of 1.0991 minor support should confirm completion of the recovery and turn bias to the downside for retesting 1.0879 low first. However, firm break of 1.1109 will be an early sign of medium term bottoming and target 1.1412 key resistance 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) 1.0440; (P) 1.0486; (R1) 1.0514; More…

Intraday bias in EUR/USD remains neutral for the moment. Considering bearish divergence condition in 4 hour MACD, break of 1.0427 minor support will indicate short term topping at 1.0594, after rejection by 1.0609 fibonacci level. Intraday bias will be turned back to the downside for 1.0222 support and possibly below.

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. However, rejection by 1.0609 will retain medium term bearishness for down trend resumption at a later stage.

Daily Pivots: (S1) 1.2315; (P) 1.2374 (R1) 1.2436; More….

EUR/USD weakens mildly in early US session. But after all, it’s staying in consolidation pattern from 1.2537 and intraday bias remains neutral. As long as 1.2222 support holds, further rise is in favor. Sustained break of 1.2494/2516 will target 100% projection of 1.0569 to 1.2091 from 1.1553 at 1.3075 next. However, break of 1.2222 will indicate rejection from 1.2494/2516, on bearish divergence condition in 4 hour MACD, and turn near term outlook bearish for 1.1915 support first.

In the bigger picture, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. But key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 is looking vulnerable. Sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862. Nonetheless, rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive.

Daily Pivots: (S1) 1.1649; (P) 1.1695 (R1) 1.1777; More…

EUR/USD’s rise resumed after brief consolidation and intraday bias is back on the upside. Current rally is expected to target 1.2 handle next. On the downside, break of 1.1612 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Sustained break of 55 month EMA (now at 1.1760) will pave the way to key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. While rise from 1.0339 is strong, there is no confirmation that it’s developing into a long term up trend yet. Hence, we’ll be cautious on strong resistance from 1.2516 to limit upside. But for now, medium term outlook will remain bullish as long as 1.1295 support holds, in case of pull back.

Daily Pivots: (S1) 1.0699; (P) 1.0732 (R1) 1.0767; More…

Intraday bias in EUR/USD remains on the upside at this point. Sustained trading above 55 day EMA (now at 1.0757) will target 1.0935 resistance next. On the downside, however, break of 1.641 minor support will turn bias back to the downside for retesting 1.0348 low 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 medium term corrective rebound first.

Daily Pivots: (S1) 1.0952; (P) 1.0975; (R1) 1.0991; More…

EUR/USD’s fall is still in progress. Intraday bias remains on the downside for 100% projection of 1.1412 to 1.1026 from 1.1249 at 1.0683 next. On the upside, above 1.0996 minor resistance will turn intraday bias neutral and bring consolidations again first. But recovery should be limited well below 1.1249 resistance to bring fall resumption.

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) 1.0855; (P) 1.0929; (R1) 1.0970; More…

Intraday bias in EUR/USD remains neutral at this point. Consolidation from 1.1016 could extend further and deeper retreat cannot be ruled out. But further rally is expected as long as 1.0722 support holds. On the upside, break of 1.1016 will resume the whole rise from 1.0447 to retest 1.1274 high.

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) 1.1851; (P) 1.1870 (R1) 1.1892; More….

With 4 hour MACD crossed below signal line, intraday bias in EUR/USD is turned neutral again. As long as 1.1712 cluster support (61.8% retracement of 1.1553 to 1.1960 at 1.1708) remains intact, near term outlook stays bullish. Break of 1.1960 will resume whole rise from 1.1553 and target 1.2091 high.

In the bigger picture, rise from 1.0339 medium term bottom is seen as a corrective move for the moment. Therefore, in case of another rally, we’d be expect 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 to limit upside and bring reversal. Meanwhile, sustained trading below 55 week EMA (now at 1.1435) will suggest that such medium term rebound is completed and could then bring retest of 1.0339 low.

EUR/USD edged higher to 1.1960 last week but turned into sideway trading since then. Initial bias remains neutral this week first. As long as 1.1712 support holds, another rally is in favor. Above 1.1960 will target 1.2091 high first. Break will extend the medium term up trend from 1.0339 to 61.8% projection of 1.0569 to 1.2091 from 1.1553 at 1.2494, which is close to 1.2516 long term fibonacci level. On the downside, break of 1.1712 will indicate completion of the rise from 1.1553 and turn near term outlook bearish.

In the bigger picture, rise from 1.0339 medium term bottom is seen as a corrective move for the moment. Therefore, in case of another rally, we’d be expect 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 to limit upside and bring reversal. Meanwhile, sustained trading below 55 week EMA (now at 1.1410) will suggest that such medium term rebound is completed and could then bring retest of 1.0339 low.

In the long term picture, 1.0339 is now seen as an important bottom as the down trend from 1.6039 (2008 high) could have completed. It’s still early to decide whether price action form 1.0339 is developing into a corrective or impulsive move. On the upside, strong resistance could be seen from 38.2% retracement of 1.6039 to 1.0339 at 1.2516. On the downside, we’re not anticipating a break of 1.0339 in near to medium term.

Daily Pivots: (S1) 1.0632; (P) 1.0676 (R1) 1.0755; More…..

EUR/USD’s rise from 1.0339 is still in progress for 1.0872 resistance and possibly above. Nonetheless, such rise is seen as a corrective move. Below 1.0453 will argue that it’s completed and turn bias back to the downside for 1.0339 support. Break there will extend the larger down trend towards parity.

In the bigger picture, whole down trend from 1.6039 (2008 high) is in progress. Such down trend is expected to extend to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. On the upside, break of 1.1298 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

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Daily Pivots: (S1) 1.0797; (P) 1.0883; (R1) 1.0944; More…

EUR/USD’s fall from 1.1147 is still in progress and intraday bias stays on the downside for 1.0635 low. Decisive break there will confirm larger down trend resumption. On the upside, break of 1.0926 minor resistance will extend the corrective rise 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.

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) 1.1075; (P) 1.1119; (R1) 1.1145; More…

Intraday bias in EUR/USD remains neutral at this point as consolidation from 1.1026 might extend. Further rise could be seen but upside should be limited by 1.1249 resistance to bring down trend resumption. Break of 1.1051 will target 1.1026 low and below. However, sustained break of 1.1249 will have 55 day EMA taken out too. Stronger rise should then be seen to 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.