Daily Pivots: (S1) 1.1721; (P) 1.1746; (R1) 1.1772; More…..

EUR/USD’s decline today should confirm completion of recovery from 1.1612 at 1.1830. Intraday bias is back on the downside, for 1.1612 support. Break will resume corrective fall from 1.2011, for 38.2% retracement of 1.0635 to 1.2011 at 1.1485. On the upside, break of 1.1771 minor resistance will mix up the near term outlook again and turn bias neutral again.

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) 1.1202; (P) 1.1223; (R1) 1.1237; More…..

Outlook in EUR/USD remains unchanged and intraday bias stays neutral. As long as 1.1273 minor resistance holds, further decline is in favor. On the downside, decisive break of 1.1176 will resume the down trend from 1.2555. On the upside, however, break of 1.1273 support turned resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for 1.1448 resistance instead.

In the bigger picture, medium term weakness was revived as the weak rebound from 1.1176 was rejected well below 55 week EMA and failed to sustain above 55 day EMA. Focus is back on 1.1176 low, with 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186. Decisive break there will resume whole down trend from 1.2555. Such decline target 1.0339 low next. On the upside, firm break of 1.1569 resistance is needed to be the first sign of medium term bottoming. Otherwise, downside breakout will be in favor.

Daily Pivots: (S1) 0.9770; (P) 0.9808; (R1) 0.9862; More…

Intraday bias in EUR/USD remains neutral first. On the upside, firm break of 0.9863 support turned resistance will bring stronger rise to 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. 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) 1.1984; (P) 1.2026; (R1) 1.2059; More….

Intraday bias in EUR/USD remains neutral and more consolidation could be seen below 1.2079 temporary top. But further rally is expected with 1.1941 minor support intact. As noted before, correction from 1.2348 should have completed with three waves down to 1.1703. Break of 1.2079 will target 1.2442/2348 resistance zone. However, break of 1.1941 will argue that the rebound from 1.1703 has completed, and turn bias back to the downside for this 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. However, sustained break of 1.1602 will argue that whole rise from 1.10635 has completed. Deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289.

Daily Pivots: (S1) 1.0533; (P) 1.0554; (R1) 1.0587; More…

Intraday bias in EUR/USD remains neutral at this point. On the upside, firm break of 1.0616 resistance will confirm short term bottoming, and turn bias back to the upside for stronger rebound. Nevertheless, rejection by 1.0616 will retain near term bearishness. Break of 1.0447 will resume the fall from 1.1274 to 1.0199 fibonacci level next.

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 1.0725) holds, in case of rebound.

Daily Pivots: (S1) 1.1274; (P) 1.1303; (R1) 1.1340; More…

Range trading continues in EUR/USD and intraday bias remains neutral at this point. 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 1.1487). On the downside, break of 1.1185 will resume larger fall from 1.2348.

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) 1.0884; (P) 1.0919; (R1) 1.0939; More…

A temporary low is formed at 1.0873 in EUR/USD and intraday bias is turned neutral first. But outlook stays bearish with 1.1064 resistance intact. On the downside, below 1.0873 will target 1.0832 support first. Decisive break there will extend the decline from 1.1274 to 1.0609/34 cluster support.

In the bigger picture, a medium term top could be formed at 1.1274, after failing to break through 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 decisively, on bearish divergence condition in D MACD. Sustained trading below 55 D EMA (now at 1.0966) will bring deeper correction to 1.0634 cluster support (38.2% retracement of 0.9534 to 1.1274 at 1.0609). Strong support could be seen there, at least on first attempt, to set the range for consolidation.

Daily Pivots: (S1) 1.1442; (P) 1.1468; (R1) 1.1496; More….

Intraday bias in EUR/USD remains neutral at this point as range trading continues. On the downside, break of 1.1431 will resume the fall from 1.1814. Intraday bias would then be turned back to the downside for retesting 1.1300 low next. In case of another recovery, upside should be limited by 1.1621 resistance to bring fall resumption eventually. However, break of 1.1621 will turn focus back to 1.1814 resistance 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) 1.1586; (P) 1.1631 (R1) 1.1688; More…..

EUR/USD lost downside momentum again as seen in 4 hour MACD. Intraday bias is turned neutral gain. Overall outlook remain bearish and downside breakout is expected, sooner or later. Firm break of 1.1507 will resume whole decline from 1.2555, through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186. On the upside, in case of another rise as 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) 1.1017; (P) 1.1055; (R1) 1.1119; More…

Intraday bias in EUR/USD remains on the upside for 1.1147 resistance. Price actions from 1.0635 are seen as a corrective pattern. Upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, below 1.0991 minor support will turn intraday bias to the downside for 1.0870 support. However, sustained break of 1.1167 will pave the way to 1.1496 key resistance next.

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) 1.1712; (P) 1.1755; (R1) 1.1785; More…..

As noted before, the corrective rise from 1.1300 should have completed at 1.1814, after meeting strong resistance from 38.2% retracement of 1.2555 to 1.1300 at 1.1779. Intraday bias remains on the downside for 1.1525 support first. Break will confirm this bearish case and target a test on 1.1300 low. On the upside, again, sustained break of 1.1779 will dampen our view and extend the rise from 1.1300.

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) 1.1702; (P) 1.1744; (R1) 1.1819; More…..

EUR/USD’s rally is still in progress with no sign of topping yet. Focus stays on key resistance at 38.2% retracement of 1.2555 to 1.1300 at 1.1779. Rejection from 1.1779 and break of 1.1649 minor support will indicate that corrective rise from 1.1300 has completed. That will be in line with our original view and turn bias to the downside for 1.1525 support for confirmation. However, sustained break of 1.1779 will extend the corrective rise from 1.1300 to 100% projection of 1.1300 to 1.1733 from 1.1525 at 1.1958 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).

EUR/USD’s consolidation form 1.0667 continued last week and outlook is unchanged. Initial bias remains neutral this week first and further fall is expected with 1.0760 resistance intact. Decline from 1.0915 is seen as another leg in the larger corrective pattern. Firm break of 1.0667 will target 1.0601 and below. However, decisive break of 1.0760 will turn intraday bias back to the upside for stronger rebound.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern that’s still in progress. Break of 1.0601 will target 1.0447 support and possibly further to 100% projection of 1.1274 to 1.0447 from 1.1138 at 1.0311. For now, this will remain the favored case as long as 1.0915 resistance holds, in case of rebound.

In the long term picture, a long term bottom is in place at 0.9534 (2022 low). But considering that upside is still capped below 55 M EMA (now at 1.1018), there is no sign of trend reversal yet. Down trend from 1.6039 (2008 high) could resume at a later stage if current selloff picks up momentum.

Daily Pivots: (S1) 1.0995; (P) 1.1032; (R1) 1.1055; More…

Intraday bias in EUR/USD remains neutral and outlook is unchanged. On the downside, below 1.0899 minor support will turn bias back to the downside for 61.8% projection of 1.2265 to 1.1120 from 1.1494 at 1.0786. However, firm break of 1.1120 will confirm short term bottoming at 1.0805. Bias will be back on the upside for 55 day EMA (now at 1.1198) and above.

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 extending term range trading first.

Daily Pivots: (S1) 1.1583; (P) 1.1605; (R1) 1.1624; More…

EUR/USD recovers today but stays below 1.1668 temporary top. Intraday bias remains neutral first. On the upside, break of 1.1668 will target 55 day EMA (now at 1.1688). Sustained break there will be a sign that larger correction from 1.2348 has completed. Stronger rally would be seen to 1.1908 resistance for confirmation. On the downside, though, break of 1.1571 minor support will turn bias back to the downside for 1.1523 support instead. Break there will resume larger fall from 1.2348.

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.

EUR/USD’s fall from 1.2265, as well as the pattern from 1.2348, finally resumed by taking out 1.1663 support last week. A temporary bottom is likely formed at 1.1561 as it lost momentum. Initial bias is neutral this week first. Upside of recovery should be limited by 1.1682 resistance to bring fall resumption. On the downside, break of 1.1561 will target 1.1289 medium term fibonacci level. Nevertheless, sustained break of 1.1682 will bring stronger rebound back towards 1.1908 resistance.

In the bigger picture, sustained break of 1.1602 will argue that rise from 1.0635 (2020 low) has completed at 1.2348. Deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289. Note also that rejection by 55 week EMA (1.1830) also carries medium term bearish implication. Firm break of 1.1289 will pave the way to retest 1.0635 low. On the upside, though, break of 1.1908 resistance will revive medium term bullishness and turn focus back to 1.2348 high.

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) already. 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 change of downside breakout, and monitor the momentum of the decline from 1.2348 first.

Daily Pivots: (S1) 1.0798; (P) 1.0862; (R1) 1.0898; More…

Intraday bias in EUR/USD remains mildly on the downside for 1.0727 support. Break will target 1.0635 low next. On the upside, break of 1.1019 will turn bias to the upside for 1.1147 resistance. After all, corrective pattern from 1.0635 low is still in progress. But in case of rebound, upside should be 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) 1.1526; (P) 1.1569; (R1) 1.1602; More…..

EUR/USD rebounds notably after drawing support from 1.1534 minor support. But it’s staying below 1.1610 temporary top. Intraday bias remains neutral first. ON the upside, break of 1.1610 will extend the rebound from 1.1431 towards 1.1814 resistance. But we’d expect upside to be limited by 1.1779/1814 resistance zone to bring down trend resumption eventually. On the downside, break of 1.1534 will indicate completion of rebound from 1.1431. Intraday bias will be turned back to the downside for 1.1431 and then 1.1300 low.

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) 1.0919; (P) 1.0957; (R1) 1.1022; More…

EUR/USD’s break of 1.1008 minor resistance suggest resumption of rise from 1.0774. Also, corrective pattern from 1.0635 is in another rising leg. Intraday bias is now on the upside for 1.1147 resistance. Though, we’d still expect upside to be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0870 minor support will turn bias to the downside for 1.0774 support first.

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) 1.1096; (P) 1.1204; (R1) 1.1301; More…

Intraday bias in EUR/USD is turned neutral as it’s now consolidating above 1.1105 temporary low. But Further fall is still expected with 1.1287 support turned resistance intact. Sustained break of 1.1120 will confirm resumption of larger down trend from 1.2348. Next target is 61.8% projection of 1.2265 to 1.1120 from 1.1494 at 1.0786. However, firm break of 1.1287 will dampen this bearish view and turn bias back to the upside for 1.1494 resistance.

In the bigger picture, the decline from 1.2348 (2021 high) is seen as a leg inside the range pattern from 1.2555 (2018 high). Sustained trading above 55 week EMA (now at 1.1593) will argue that it has completed and stronger rise would be seen back towards top of the range between 1.2348 and 1.2555. However, 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.