Daily Pivots: (S1) 1.0883; (P) 1.0928; (R1) 1.0957; More…

EUR/USD is extending the sideway pattern from 1.1011 and intraday bias stays neutral. For now, further rally is still mildly in favor. Break of 1.1011 will resume the rise from 1.0634 and target 1.1094 resistance. Decisive break there will resume larger up trend from 0.9534. However, break of 1.0843 will turn bias to the downside for 1.0634 support 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) 1.1732; (P) 1.1784; (R1) 1.1814; More…

Break of 1.1751 support suggests that fall from 1.2265 has resumed. Intraday bias is back on the downside for further decline. We’d look for strong support from 1.1602/1703 support zone to bring rebound. But break of 1.1907 resistance is needed to confirm short term bottoming. Meanwhile, sustained break of 1.1602 will argue that it’s already reversing the trend from 1.1603, and target 61.8% retracement of 1.1603 to 1.2348 at 1.1888.

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) 0.9620; (P) 0.9736; (R1) 0.9804; More…

Intraday bias in EUR/USD stays on the downside at this point. Current down trend should target 161.8% projection of 1.0368 to 0.9863 from 1.0197 at 0.9380 next. On the upside, above 0.9772 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

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) 1.1588; (P) 1.1656; (R1) 1.1690; More…..

EUR/USD is staying below 1.1721 and intraday bias remains neutral. Rebound from 1.1300 could extend through 1.1733 resistance. 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 1.1525 support will indicate completion of this corrective rebound. Retest of 1.1300 low should then be seen. However, firm break of 1.1779 will extend the rise to 100% projection of 1.1300 to 1.1733 from 1.1525 at 1.1958.

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) 1.2069; (P) 1.2114; (R1) 1.2150; More…

EUR/USD’s rise and break of 1.2157 minor resistance reaffirms the case that pull back from 1.2348 has completed at 1.2052. Intraday bias is back on the upside for retesting 1.2348 high. However, decisive break of 1.2052 will resume the correction from 1.2348. Intraday bias will be turned to the downside for 61.8% retracement of 1.1602 to 1.2348 at 1.1887.

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) 1.0768; (P) 1.0808; (R1) 1.0838; More…

EUR/USD’s fall from 1.1016 is still in progress and intraday bias stays on the downside. Sustained break of 55 D EMA (now at 1.0770) will pave the way to retest 1.0447 support. On the upside, above 1.0846 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.1016 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 tentatively seen as the second leg. Hence while further rally could be seen, 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) 1.0599; (P) 1.0665; (R1) 1.0708; More…

Intraday bias in EUR/USD remains on the downside at this point. Current is part of the decline from 1.1138. Next target is 100% projection of 1.1138 to 1.0694 from 1.0980 at 1.0536 next. On the upside, above 1.0723 support turned resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Current fall from 1.1138 is seen as the third leg. While deeper decline is would be seen to 1.0447 and possibly below. Strong support should emerge from 61.8% retracement of 0.9534 to 1.1274 at 1.0199 to complete the correction.

Daily Pivots: (S1) 1.0811; (P) 1.0843; (R1) 1.0872; More…

Intraday bias in EUR/USD remains neutral at this point. Corrective pattern from 1.0635 could extend further. On the upside, above 1.0895 minor resistance will turn bias to the upside for 1.1019 resistance. But overall, 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) 1.1355; (P) 1.1399; (R1) 1.1426; More….

EUR/USD is staying in consolidation below 1.1452 temporary top. Intraday bias remains neutral first. Further rise could still be seen and break of 1.1452 will target 1.1496 key resistance. Firm break there will carry larger bullish implications and target 61.8% projection of 1.0774 to 1.1422 from 1.1168 at 1.1568 next. On the downside, break of 1.1325 minor support will turn bias back to the downside for 1.1168 support. Decisive break there will indicate near term bearish reversal.

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) 1.2086; (P) 1.2116; (R1) 1.2157; More…

Intraday bias in EUR/USD remains mildly on the upside at this point. Pull back from 1.2348 should have completed at 1.2052, after touching 1.2058 cluster support (38.2% retracement of 1.1602 to 1.2348 at 1.2063). Further rise would be seen to retest 1.2348 high. However, on the downside, sustained break of 1.2058 will target 61.8% retracement at 1.1887.

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) 1.1816; (P) 1.1857 (R1) 1.1891; More….

No change in EUR/USD’s outlook. Despite diminishing downside momentum, intraday bias stays on the downside with 1.1938 minor resistance intact. Current should extend to 261.8% projection of 1.2475 to 1.2214 from 1.2413 at 1.1730. As it will then be close to 1.1708 medium term fibonacci level, some support could be seen around 1.1708/30 to bring rebound. Meanwhile, break of 1.1938 should confirm short term bottoming, on bullish convergence condition in 4 hour MACD. And stronger rebound would be seen first.

In the bigger picture, current decline and firm break of 1.2154 support confirms rejection by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. A medium term top should be in place at 1.2555 and deeper decline would be seen back to 38.2% retracement of 1.0339 to 1.2555 at 1.1708 first. With current downside acceleration, there is prospect of hitting 61.8% retracement at 1.1186 before completing the decline. But still, we’ll need to look at the structure before deciding if it’s a corrective or impulsive move.

Daily Pivots: (S1) 1.2315; (P) 1.2358 (R1) 1.2386; More….

EUR/USD’s sharp decline today now put 1.2214 support in focus. Decisive break there will revive the case of trend reversal, after rejection by 1.2516 key fibonacci resistance. In that case, outlook will be turned bearish for 1.2154 support and below.

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) 1.1411; (P) 1.1440; (R1) 1.1476; More….

EUR/USD is losing some upside momentum as seen in 4 hour MACD. Intraday bias is turned neutral first with focus on 1.1496 key resistance. On the upside, sustained break of 1.1496 will carry larger bullish implications and target 61.8% projection of 1.0774 to 1.1422 from 1.1168 at 1.1568 next. On the downside, break of 1.1370 minor support will suggest rejection by 1.1496. Intraday bias will be turned back to the downside for 1.1168 support. Decisive break there will indicate near term bearish reversal.

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) 1.1184; (P) 1.1207; (R1) 1.1238; More…..

EUR/USD’s rebound from 1.1111 extends higher today but outlook is unchanged. Such recovery is seen as a corrective move. Upside should be limited well below 1.1324 resistance to bring fall resumption. On the downside, below 1.1175 minor support will turn bias to the downside for 1.1111 first. Break there will resume larger down trend from 1.2555. However, firm break of 1.1324 resistance will be an early indication of larger bullish reversal and turn focus to 1.1448 resistance.

In the bigger picture, down trend from 1.2555 (2018 high) has just resumed. Current fall should now target 78.6% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) 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) 1.0836; (P) 1.0861; (R1) 1.0903; More…

Intraday bias in EUR/USD stays neutral and outlook is unchanged. Price actions from 1.0635 are seen as a corrective pattern. on the upside, break of 1.0885 minor resistance will start the third leg, towards 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 1.0727 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) 1.1306; (P) 1.1367 (R1) 1.1404; More…..

Intraday bias in EUR/USD remains on the downside as down trend continues. Next target is 61.8% projection of 1.2413 to 1.1509 from 1.1745 at 1.1186. Note that it’s a cluster level with 61.8% retracement of 1.0339 to 1.2555 at 1.1186. Hence, we’ll tentatively look for short term bottoming around 1.1186. On the upside, above 1.1430 minor resistance will turn intraday bias neutral and bring consolidations again.

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 1.1851 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 1.1292; (P) 1.1312; (R1) 1.1336; More…..

Intraday bias in EUR/USD remains neutral for consolidation above 1.1273 temporary low. For now, another fall remains mildly in favor and break of 1.1273 will target a test on 1.1176 low. Decisive break there will resume whole decline from 1.2555. On the upside, above 1.1448 will resume the rebound from 1.1176 to 1.1569 resistance 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) 1.0850; (P) 1.0870; (R1) 1.0870; More…

Intraday bias in EUR/USD is turned neutral first as consolidation from 1.0844 temporary low is extending. Further decline is expected as long as 1.0941 resistance holds. Fall from 1.1094 short term top is seen as correcting whole up trend from 0.9534. Below 1.0844 will target 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) 1.0990; (P) 1.1009; (R1) 1.1037; More…

EUR/USD’s recovery from 1.0981 is still in progress and intraday bias stays neutral. Upside should be limited below 1.1097 resistance to bring fall resumption. On the downside, break of 1.0981 will extend the decline from 1.1175 to retest 1.0879 low. However, break of 1.1097 will dampen our bearish view and bring stronger rise back to 1.1175.

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) 1.1323; (P) 1.1373; (R1) 1.1424; More…

Intraday bias in EUR/USD remains neutral for the moment. On the upside, above 1.1422 will target 1.1496 key resistance. Decisive break there will carry larger bullish implications. On the downside, break of 1.1241 support will now indicate short term topping, and turn bias to the downside for 55 day EMA (now at 1.1027).

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.