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.

Daily Pivots: (S1) 1.1305; (P) 1.1321; (R1) 1.1342; More……

Intraday bias in EUR/USD remains neutral as consolidation from 1.1347 is extending with another falling leg. With 1.1251 minor support intact, further rise is mildly in favor. On the upside, above 1.1347 will target 1.1448 key resistance next. Decisive break there will carry larger bullish implications. On the downside, break of 1.1251 minor support will suggest that recovery from 1.1107 has completed. Intraday bias will be turned back to the downside for retesting 1.1107 low.

In the bigger picture, current development argues that a medium term bottom could be in place at 1.1107, on bullish convergence condition in daily MACD. Decisive break of 1.1448 resistance would confirm this case. And stronger rebound would be seen to 38.2% retracement of 1.2555 to 1.1107 at 1.1660. At this point, it’s early to judge whether rise from 1.1107 is a corrective move or the start of an medium term up trend. We’d look at the structure of the rebound to decide later. But in any case, for now, risk will remain on the upside as long as 1.1107 low holds.

Daily Pivots: (S1) 1.1106; (P) 1.1130; (R1) 1.1157; More…

Intraday bias in EUR/USD remains on the upside despite current retreat. Rise form 1.0879 should have just resumed. Further rally should be seen to 100% projection of 1.0879 to 1.1179 from 1.0981 at 1.1281 next. On the downside, below 1.1102 minor support will delay the bullish case and turn bias neutral first.

In the bigger picture, rebound from 1.0879 is seen as a corrective move first. In case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

Daily Pivots: (S1) 1.0689; (P) 1.0718; (R1) 1.0763; More…

EUR/USD’s fall from 1.1094 resumed after brief recovery and intraday bias is back on the downside. Current fall is seen as corrective the whole up trend from 0.9534. Deeper fall should be seen to 1.0515 cluster support, 38.2% retracement of 0.9534 to 1.1094 at 1.0498. On the upside, break of 1.0745 resistance will indicate short term bottoming. Stronger rebound would be seen back to 55 D EMA (now at 1.0836).

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) 1.1559; (P) 1.1591; (R1) 1.1630; More…..

Intraday bias in EUR/USD remains neutral at this point. Rebound from 1.1300 is seen as a correction. In case of another rise, we’d expect strong resistance from 1.1745 to limit upside to bring larger down trend resumption. On the downside, break of 1.1493 minor support will suggest that the rebound is completed. Intraday bias would be turned back to the downside for retesting 1.1300 low.

In the bigger picture, the down trend from 1.2555 medium term is in progress for 61.8% retracement of 1.0339 to 1.2555 at 1.1186. Note again 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. Sustained break of 1.1186 could pave the way back to retest 1.0339 low. For now, outlook will remain bearish as long as 38.2% retracement of 1.2555 to 1.1300 at 1.1779 holds, even in case of strong rebound.

Daily Pivots: (S1) 1.0744; (P) 1.0762; (R1) 1.0781; More…

Intraday bias in EUR/USD remains neutral at this point. Further decline is expected with 1.0816 minor resistance intact. Break of 1.0722, and sustained trading below 55 D EMA (now at 1.0770) will extend the fall from 1.1016 short term top to retest 1.0447 support. However, on the upside, firm break of 1.0816 minor resistance 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 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 55 D EMA will argue that the third leg has already started for 1.0447 and below.

Daily Pivots: (S1) 0.9975; (P) 1.0031; (R1) 1.0070; More…

Intraday bias in EUR/USD remains neutral for the moment. On the upside, firm break of 1.0092 will resume whole rise from 0.9534. Further rally should then be seen to 38.2% retracement of 1.1494 to 0.9534 at 1.0283, even as a corrective rise. On the downside, however, break of 0.9907 minor support will turn bias back to the downside for 0.9729 support first. Break there should bring retest of 0.9534 low.

In the bigger picture, medium term outlook stays bearish with trading inside the falling channel. That is larger down trend from 1.2348 (2021 high) is still in progress. Firm break of 0.9534 low will confirm this bearish case. However, break of 1.0092 will add to the case of medium term bottoming, on bullish convergence condition in daily MACD, and bring further rally towards 55 week EMA (now at 1.0583).

Daily Pivots: (S1) 1.1243; (P) 1.1284; (R1) 1.1308; More…..

Intraday bias in EUR/USD remains on the downside at this point. Fall from 1.1448 is target 1.1176 low. Decisive break there will resume whole decline from 1.2555. On the upside, however, break of 1.1331 minor resistance will turn bias back to the upside for 1.1448 instead.

In the bigger picture, medium term outlooks is a bit mixed for now as there are conflicting signals. We’ll turn neutral first. On the downside, decisive break of 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186 will resume the whole down trend from 1.2555. Next target will be 1.0339 low. Nevertheless, break of 1.1569 resistance should confirm medium term bottoming. Stronger rebound should be seen back to 38.2% retracement of 1.2555 to 1.1176 at 1.1703. In that case, the structure of the rise from 1.1176 and reaction to 1.1703 fibonacci level will be watched for making an assessment on whether medium term trend has reversed, or rebound form 1.1176 is merely a correction.

Daily Pivots: (S1) 1.1349; (P) 1.1398; (R1) 1.1462; More…..

EUR/USD’s rebound from 1.1176 accelerated to as high as 1.1448. The break of 1.1419 resistance is taken as the first sign of medium term bottom. Intraday bias is now on the upside for 1.1514/1569 resistance zone first. On the downside, break of 1.1335 minor support is needed to indication completion of the rise from 1.1176. Otherwise, near term outlook will remain cautiously bullish in case of retreat.

In the bigger picture, current development suggests that a medium term bottom could be formed at 1.1176 already. That came after hitting 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186, on bullish convergence condition in daily MACD. Further rally could be seen back to 38.2% retracement of 1.2555 to 1.1176 at 1.1703. It’s a bit early to confirm medium term bullish reversal. The structure of the rise from 1.1176 and reaction to 1.1703 fibonacci level will be watched for making an assessment later. But in any case, decisive break of 1.1176 is needed to confirm resumption of down trend. Otherwise, outlook is neutral at worst.

Daily Pivots: (S1) 1.0964; (P) 1.1001; (R1) 1.1021; More…

Intraday bias in EUR/USD remains neutral for the moment. Further decline is still in favor with 1.1120 support turned resistance intact. On the downside, break of 1.0899 minor support will target 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 1.1178) 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) 1.0917; (P) 1.0958; (R1) 1.0983; More…

EUR/USD recovers mildly today but stays in range below 1.1094. Intraday bias remains neutral at this point. Further rally is expected as long as 1.0908 support holds. Break of 1.1094 will resume larger up trend to 1.1273 fibonacci level. Break there will target 61.8% projection of 0.9534 to 1.1032 from 1.0515 at 1.1441 However, considering bearish divergence condition in 4H MACD, break of 1.0908 support will indicate short term topping and turn bias back to the downside.

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) 1.1882; (P) 1.1900; (R1) 1.1930; More….

Intraday bias in EUR/USD remains neutral for the moment. Further rise is in favor with 1.1821 minor support intact. Above 1.1926 will resume the rebound from 1.1703 to 1.1988 resistance. Firm break there should affirm the case that correction from 1.2348 has completed at 1.1703. On the downside, however, break of 1.1821 will turn bias back to the downside back 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. 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) 1.1600; (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) 1.1349; (P) 1.1398; (R1) 1.1462; More…..

As long as 1.1335 minor support holds, further rise is still expected in EUR/USD. Prior break of 1.1419 resistance is taken as the first sign of medium term bottom. Further rally would be seen to 1.1514/1569 resistance zone first. On the downside, break of 1.1335 minor support is needed to indication completion of the rise from 1.1176. Otherwise, near term outlook will remain cautiously bullish in case of retreat.

In the bigger picture, current development suggests that a medium term bottom could be formed at 1.1176 already. That came after hitting 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186, on bullish convergence condition in daily MACD. Further rally could be seen back to 38.2% retracement of 1.2555 to 1.1176 at 1.1703. It’s a bit early to confirm medium term bullish reversal. The structure of the rise from 1.1176 and reaction to 1.1703 fibonacci level will be watched for making an assessment later. But in any case, decisive break of 1.1176 is needed to confirm resumption of down trend. Otherwise, outlook is neutral at worst.

Daily Pivots: (S1) 1.1578; (P) 1.1653 (R1) 1.1700; More…..

Intraday bias in EUR/USD remains on the downside. Current fall from 1.2555 is in progress and should target 50% retracement of 1.0339 to 1.2555 at 1.1447 next. On the upside, above 1.1639 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) 1.2018; (P) 1.2059; (R1) 1.2091; More…

EUR/USD’s break of 1.2022 support suggests that corrective pattern from 1.2348 has started the third leg. Intraday bias stays on the downside for 1.1951 support. Break will target 100% projection of 1.2348 to 1.1951 from 1.2242 at 1.1845. On the upside, above 1.2100 minor resistance will turn bias neutral first. Risk will stay mildly on the downside as long as 1.2242 resistance holds, in case of recovery.

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) 1.0716; (P) 1.0758; (R1) 1.0784; More…

Intraday bias in EUR/USD stays on the downside for 1.0694 support. Decisive break there will resume the whole decline from 1.1138 and target 100% projection of 1.1138 to 1.0694 from 1.0980 at 1.0536. On the upside, above 1.0767 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.0834 support turned resistance holds, in case of recovery.

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.

Daily Pivots: (S1) 1.1827; (P) 1.1854; (R1) 1.1886; More…..

A temporary top is formed at 1.1880 in EUR/USD with today’s retreat and intraday bias is turned neutral first. Further rise is expected as long as 1.1688 support holds. Break of 1.1880 will target a test on 1.2011 high. Nevertheless, break of 1.1688 will likely resume the correction from 1.2011, and turn bias to the downside for 1.1612 and below.

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) 1.0897; (P) 1.0911; (R1) 1.0931; More…

Intraday bias in EUR?USD remains on the downside for 1.0879 low. Firm break there will resume larger down trend for 1.0813 fibonacci level next. On the upside, above 1.0957 minor resistance will turn intraday bias neutral first. But recovery should be limited by 1.0992 support turned resistance to bring fall resumption.

In the bigger picture, rebound from 1.0879 is seen as a corrective that might have completed after rejection by 55 week EMA. Break of 1.0879 will resume the down trend from 1.2555 (2018 high) for 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break there will pave the way to retest 1.0339 low. For now, this will remain the favored case as long as 1.1239 resistance holds.

Daily Pivots: (S1) 1.0365; (P) 1.0393 (R1) 1.0435; More…

Intraday bias in EUR/USD remains neutral for the moment. But outlook stays bearish as long as 1.0641 resistance holds. Decisive break of 1.0339 will carry larger bearish implication and target 161.8% projection of 1.1494 to 1.0805 from 1.1184 at 1.0069. Nevertheless, break of 1.0641 will indicate short term bottoming and turn bias back to the upside for rebound.

In the bigger picture, break of medium term channel support suggests downside acceleration. Current decline from 1.2348 (2021 high) is probably resuming long term down trend from 1.6039 (2008 high). Decisive break of 1.0339 will confirm this bearish case. Next target is 61.8% projection of 1.3993 to 1.0339 from 1.2348 at 1.0090. This will now remain the favored case as long as 1.0805 support turned resistance holds.