Daily Pivots: (S1) 1.0855; (P) 1.0884; (R1) 1.0944; More…

Intraday bias in EUR/USD remains on the upside for the moment. Current rally from 1.0447 is in progress for 61.8% retracement of 1.1274 to 1.0447 at 1.0958. Sustained break there will pave the way to retest 1.1274 high. On the downside, below 1.0823 minor support will turn intraday bias neutral and bring consolidations first.

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.

Daily Pivots: (S1) 1.2010; (P) 1.2045 (R1) 1.2094; More….

EUR/USD’s retreat, with 4 hour MACD crossed below signal line, suggests that a temporary top is formed at 1.2080, ahead of 1.2091 key resistance. Intraday bias is turned neutral first. Some consolidation could be seen but further rise is expected as long as 4 hour 55 EMA (now at 1.1922) holds. Firm break of 1.2091 will confirm medium term rally resumption and target next key fibonacci level at 1.2494/2516. However, sustained break of 4 hour 55 EMA will extend the consolidation pattern from 1.2091 with with another decline through 1.1717 support.

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. That is also close to 61.8% projection of 1.0569 to 1.2091 from 1.1553 at 1.2494.

Daily Pivots: (S1) 1.2115; (P) 1.2132; (R1) 1.2150; More…

With 1.2087 minor support intact, further rise is in favor to 1.2188 resistance. As noted before, corrective fall from 1.2348 should have completed with three waves down to 1.1951. Break of 1.2188 resistance will bring retest of 1.2348 high. On the downside, below 1.2087 minor support will dampen this bullish case and could extend the correction from 1.2348 with another fall.

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) 1.1757; (P) 1.1786 (R1) 1.1800; More….

EUR/USD drops to as low as 1.1729 so far today and focus in now on 1.1712 near term support. Decisive break there will indicate that rebound from 1.1553 has completed at 1.1960. In that case, deeper fall would be seen to retest 1.1553 low. Meanwhile, with 1.1712 support intact, break of 1.1814 will retain near term bullishness. And in that case, intraday bias will be turned back to the upside for 1.1960. Break will 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 1.1393) will suggest that such medium term rebound is completed and could then bring retest of 1.0339 low.

Daily Pivots: (S1) 1.1826; (P) 1.1929 (R1) 1.1998; More…

Intraday bias in EUR/USD remains neutral for the moment. on the downside, break of 1.1822/1837 support zone will complete a head and should top reversal pattern (ls: 1.2069, h: 1.2091, rs: 1.2029). That will confirm near term reversal, on bearish divergence condition in 4 hour MACD. In the case, intraday bias will be turned back to the downside through 1.1661 support. EUR/USD should then correct whole rise from 1.0569 and target 38.2% retracement of 1.0569 to 1.2091 at 1.1510. However, rebound from 1.1822/1837 and break of 1.2029 will resume the larger up trend to next key fibonacci level at 1.2516.

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) 1.1746; (P) 1.1776; (R1) 1.1831; More…..

Intraday bias in EUR/USD remains neutral first. On the downside, firm break of 1.1698 minor support would confirm short term topping at 1.1908, on bearish divergence condition in 4 hour MACD. Intraday bias will be turned back to the downside for 1.1422 cluster support (38.2% retracement of 1.0635 to 1.1908 at 1.1422). But we’d expect strong support from there to bring rebound. However, decisive break there will bring deeper fall to 61.8% retracement at 1.1121.

In the bigger picture, the strong break of 1.1496 resistance now suggests that whole down trend from 1.2555 (2018 high) has completed at 1.0635 already. Rise from 1.0635 should be the third leg of the pattern from 1.0339 (2017 low). Further 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) 1.1902; (P) 1.1924; (R1) 1.1944; More…

EUR/USD is still staying above 1.1846 and intraday bias remains neutral first. On the downside, break of 1.1846 will resume the fall from 1.2265, as the third leg of the consolidation pattern from 1.2348, to 1.1703 support. On the upside, break of 1.1974 minor resistance will bring stronger rise back to 1.2265 resistance instead.

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) 1.0713; (P) 1.0737; (R1) 1.0765; More….

Intraday bias in EUR/USD remains neutral and outlook is unchanged. More consolidations could be seen but further fall is expected as long as 55 4H EMA (now at 1.0763) holds. Fall from 1.0915 is seen as another leg in the larger corrective pattern. Below 1.0677 will target 1.0601 low first. Firm break there will target channel support at 1.0500 next.

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.

Daily Pivots: (S1) 1.0570; (P) 1.0619; (R1) 1.0672; More…

EUR/USD’s rebound from 1.0447 resumed by breaking through 1.0693 resistance. Intraday bias is back on the upside for 1.0764 cluster resistance (38.2% retracement of 1.1274 to 1.0447 at 1.0763). Decisive break there will pave the way to 61.8% retracement at 1.0958 next On the downside, below 1.0609 minor support will turn intraday bias neutral first.

In the bigger picture, fall from 1.1274 medium term top could be viewed part of a correction to rise from 0.9534 (2022 low). An interim bounce from current level, as the second leg of the pattern, cannot be ruled out. But upside should be limited well below 1.1274 resistance to start the third leg. The pattern would likely at least have a take on 61.8% retracement of 0.9534 to 1.1274 at 1.0199 before completion.

EUR/USD staged a strong rebound last week and hit as high as 1.1147. Initial bias stays on the upside this week with focus on 61.8% retracement of 1.1496 to 1.0635 at 1.1167. Sustained break there will raise the chance of larger trend reversal and turn focus to 1.1496 key resistance. On the downside,break of 1.0953 minor support will turn bias back to the downside for retesting 1.0635 low instead.

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.

In the long term picture, outlook remains bearish for now. EUR/USD is held below decade long trend line that started from 1.6039 (2008 high). It was also rejected by 38.2% retracement of 1.6039 to 1.0339 at 1.2516 before. On break of 1.0339, next target will be 100% projection of 1.3993 to 1.0339 from 1.2555 at 0.8901.

EUR/USD fell further to 1.0759 last week but recovered since then. Initial bias remains neutral this week first. But deeper decline is expected as long as 1.0903 resistance holds. Fall from 1.1094 is seen as correcting whole up trend form 0.9534. Below 1.0759 will target 1.0515 cluster support, 38.2% retracement of 0.9534 to 1.1094 at 1.0498. On the upside, though, firm break of 1.0903 will bring stronger rebound back to retest 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).

In the long term picture, focus is now on 55 M EMA (now at 1.1156). Rejection by this EMA will revive long term bearishness. However, sustained break above here will be affirm the case of long term bullish reversal and target 1.2348 resistance next.

Daily Pivots: (S1) 1.1514; (P) 1.1542; (R1) 1.1559; More…

Intraday bias in EUR/USD is mildly on the downside with breach of 1.1528 temporary low. Current decline from 1.2265 would target 1.1289 medium term fibonacci level next. On the upside, break of 1.1639 resistance, however, will indicate short term bottoming. intraday bias will be turned back to the upside for stronger rebound.

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.

Daily Pivots: (S1) 1.0715; (P) 1.0748 (R1) 1.0770; More…..

Further rise is expected in EUR/USD for 1.0828 resistance, with 1.0639 minor support intact. Corrective rise from 1.0339 is still in progress and break of 1.0828 will target 100% projection of 1.0339 to 1.0828 from 1.0494 at 1.0983. Since such rise is viewed as a corrective move, we’d expect upside to be limited by 1.0983 to bring larger down trend resumption eventually. On the downside, break of 1.0639 minor support will turn bias back to the downside for 1.0494 support.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115.

Daily Pivots: (S1) 1.1387; (P) 1.1418; (R1) 1.1435; More…..

EUR/USD’s break of 1.1407 minor support argues that rebound from 1.1289 has completed at 1.1514 already. Intraday bias is turned back to the downside for 1.1289. Overall, price actions from 1.1215 are seen as a correction pattern. Break of 1.1289 will argue that such correction is completed and larger decline from 1.2555 is ready to resume. On the upside, break of 1.1514 will extend the pattern with another rise towards 1.1569 resistance.

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) 1.0747; (P) 1.0784; (R1) 1.0808; More…

EUR/USD is still bounded in consolidation above 1.0759 temporary low and intraday bias stays neutral. Deeper decline is expected as long as 1.0903 resistance holds. Fall from 1.1094 is seen as correcting whole up trend from 0.9534. Below 1.0759 will target 1.0515 cluster support, 38.2% retracement of 0.9534 to 1.1094 at 1.0498. On the upside, though, firm break of 1.0903 will bring stronger rebound back to retest 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) 1.0000; (P) 1.0037; (R1) 1.0074; More…

EUR/USD’s fall continues today and intraday bias stays on the downside. Firm break of 100% projection of 1.1184 to 1.0348 from 1.0773 at 0.9937 could prompt downside acceleration to 161.8% projection at 0.9420. On the upside, break of 1.0121 minor resistance will turn intraday bias neutral again. But outlook will stay bearish as long as 1.0348 support turned resistance holds.

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 1.0773 resistance holds, in case of rebound.

Daily Pivots: (S1) 1.0835; (P) 1.0903; (R1) 1.0960; More…

Outlook in EUR/USD remains unchanged. Fall from 1.1101 is seen as the third leg of the corrective pattern from 1.1094. Sustained break of 55 D EMA (now at 1.0838) 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) 1.1141; (P) 1.1154 (R1) 1.1182; More….

Intraday bias in EUR/USD remains neutral as it’s still bounded in range of 1.1109/1295. On the upside, decisive break of 1.1298 key resistance will carry larger bullish implication and target 1.1615 resistance next. On the downside, break of 1.1109 support will indicate short term topping and rejection from 1.1298. In such case, intraday bias will be turned to the downside for 1.0838 support.

In the bigger picture, the case for medium term reversal continues to build up with EUR/USD staying far above 55 week EMA (now at 1.0932). Also, bullish convergence condition is seen in weekly MACD. Focus will now be on 1.1298 key resistance. Rejection from there will maintain medium term bearishness and would extend the whole down trend from 1.6039 (2008 high). However, firm break of 1.1298 will indicate reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

Daily Pivots: (S1) 1.0768; (P) 1.0798; (R1) 1.0837; More…

Intraday bias in EUR/USD stays neutral and outlook is unchanged. Deeper decline is expected as long as 1.0903 resistance holds. Fall from 1.1094 is seen as correcting whole up trend from 0.9534. Below 1.0759 will target 1.0515 cluster support, 38.2% retracement of 0.9534 to 1.1094 at 1.0498. On the upside, though, firm break of 1.0903 will bring stronger rebound back to retest 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) 1.0936; (P) 1.1028; (R1) 1.1081; More…

Outlook in EUR/USD remains unchanged and intraday bias stays neutral. As long as 1.1120 support turned resistance holds, larger down trend from 1.1494 is still expected to continue. On the downside, firm break of 61.8% projection of 1.2265 to 1.1120 from 1.1494 at 1.0786 will pave they way to 100% projection at 1.0349 next. However, strong break of 1.1120 will confirm short term bottoming, at least, and bring stronger rebound back towards 1.1494 structural resistance instead.

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.