Daily Pivots: (S1) 1.1589; (P) 1.1641 (R1) 1.1691; More…..

Outlook in EUR/USD remains unchanged as consolidations continue above 1.1507 temporary low. Intraday bias remains neutral for the moment. Stronger recovery cannot be ruled out. But in that case, upside should be limited by 1.1851 resistance to bring fall resumption. Decline from 1.2555 is still in progress. Firm break of 1.1507 will send EUR/USD through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186.

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) 1.1091; (P) 1.1139; (R1) 1.1182; More…

Intraday bias in EUR/USD remains neutral at this point. On the upside, decisive break of 1.1239 will confirm medium term bottoming at 1.0777 and turn outlook bullish.. On the downside, break of 1.1038 minor support will turn bias back to the downside for retesting 1.0777 low. That would also retain near term bearishness.

In the bigger picture, as long as 1.1239 resistance holds, larger down trend from 1.2555 (2018 high) is still in favor to extend through 1.0777 low. However, sustained break of 1.1239 will also have 55 week EMA (1.1154) decisive taken out. That should confirm medium term bottoming, with bullish convergence condition in weekly MACD. Further rise could then be seen back to 38.2% retracement of 1.2555 to 1.0777 at 1.1456 next.

Daily Pivots: (S1) 1.0674; (P) 1.0736; (R1) 1.0772; More…

Intraday bias in EUR/USD remains on the downside development. Current development argues that whole rise from 1.0447 has already finished. Deeper decline would be seen back to this 1.0447 support. On the upside, break of 1.0804 resistance is needed to signal short term bottoming. Otherwise, outlook will remain bearish 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 1.0722 support will argue that the third leg has already started for 1.0447 and possibly below.

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

EUR/USD is staying in range of 1.1822/1994. Intraday bias remains neutral first. With 1.1822 support intact, near term outlook stays bullish for another rise. Above 1.1994 minor resistance will turn bias to the upside for 1.2091 first. Break there will extend larger rise from 1.0339 and target next key fibonacci level at 1.2516. 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) 1.0521; (P) 1.0548; (R1) 1.0570; More…

Intraday bias in EUR/USD is turned neutral with current recovery. Another decline is still in favor as long as 1.0693 resistance fall. Below 1.0523 will target 38.2% retracement of 0.9534 to 1.1032 at 1.0463. Strong support could be seen there to bring reversal. 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.

EUR/USD recovered after initial fall to 1.1300 last week. The break of 1.1430 minor resistance indicates short term bottoming, on mild bullish convergence condition in 4 hour MACD. Initial bias is mildly on the upside this week, for rebound to 1.1509 support turned resistance and possibly above. However, we’d expect upside to be limited below 1.1745 resistance. On the downside, break of 1.1300 support is now needed to confirm down trend resumption. Otherwise, near term outlook is neutral for more consolidation first.

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.

In the long term picture, the rejection from 38.2% retracement of 1.6039 to 1.0339 at 1.2516 argues that long term down trend from 1.6039 (2008 high) might not be over yet. EUR/USD is also held below decade long trend line resistance. Sustained trading below 55 week EMA adds bearishness to the case. Firm break of 61.8% retracement of 1.0339 to 1.2555 at 1.1186 should at least bring a retest on 1.0339 low.

Daily Pivots: (S1) 1.1634; (P) 1.1661; (R1) 1.1694; More…..

Further decline is expected in EUR/USD with 1.1760 resistance intact. Fall from 1.2011 should target 38.2% retracement of 1.0635 to 1.2011 at 1.1485. Such decline is seen as a corrective move for now. Thus, we’d look for strong support from 1.1485 to contain downside and bring rebound. However, sustained break there will pave the way to 61.8% retracement at 1.1485. On the upside, above 1.1760 minor resistance will turn intraday bias back to the upside for retesting 1.2011 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 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) 1.1181; (P) 1.1225 (R1) 1.1256; More….

EUR/USD dips further in early US session but it’s staying well above 1.1109 key near term resistance. Intraday bias remains neutral and further rally could be seen. Decisive break of 1.1298 will carry larger bullish implication and target 1.1615 resistance next. However, break of 1.1109 will indicate short term topping and rejection from 1.1298. In that case, intraday bias will be turned back to the downside for 1.0838 support first.

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 1.0888). 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) 1.2077; (P) 1.2124; (R1) 1.2152; More…

Intraday bias in EUR/USD remains neutral at his point. On the upside, firm break of 1.2188 resistance should confirm completion of correction from 1.2348. Further rally should be seen to retest 1.2348 high. On the downside, however, break of 1.2080 minor support will bring retest of 1.1951 support 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. We’d be alerted to topping sign around 1.2516/55. But sustained break there will carry long term bullish implications.

Daily Pivots: (S1) 1.0161; (P) 1.0192; (R1) 1.0224; More…

Range trading continues in EUR/USD. Outlook is unchanged and intraday bias remains neutral. On the downside, break of 1.0095 minor support will argue that larger down trend is ready to resume. Intraday bias will be back to the downside for retesting 0.9951 low first. For now, outlook will stay bearish as long as 1.0348 support turned resistance holds, even in case of another rise.

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 strong rebound.

Daily Pivots: (S1) 1.1106; (P) 1.1160; (R1) 1.1223; More…

Intraday bias in EUR/USD is turned neutral as it retreats notably ahead of 1.1239 key resistance. On the upside, decisive break of 1.1239 will confirm medium term bottoming at 1.0777 and turn outlook bullish.. On the downside, break of 1.1038 minor support will turn bias back to the downside for retesting 1.0777 low. That would also retain near term bearishness.

In the bigger picture, as long as 1.1239 resistance holds, larger down trend from 1.2555 (2018 high) is still in favor to extend through 1.0777 low. However, sustained break of 1.1239 will also have 55 week EMA (1.1154) decisive taken out. That should confirm medium term bottoming, with bullish convergence condition in weekly MACD. Further rise could then be seen back to 38.2% retracement of 1.2555 to 1.0777 at 1.1456 next.

Daily Pivots: (S1) 1.0338; (P) 1.0388; (R1) 1.0445; More…

EUR/USD is staying in consolidation from 1.0481 and intraday bias remains neutral. Downside of retreat should be contained by 1.0092 resistance turned support to bring another rally. Break of 1.0481 will resume the rise from 0.9534 and target 1.0609 fibonacci level.

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. This will now remain the favored case as long as 1.0092 resistance turned support holds.

Daily Pivots: (S1) 1.1875; (P) 1.1918 (R1) 1.1941; More….

With 1.1860 minor support intact, intraday bias in EUR/USD stays on the upside. Current rise from 1.1553 should target a test on 1.2091 high. Break there will resume medium term up trend from 1.0339 and target 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. We’d expect strong resistance from there to bring reversal. On the downside, touching 1.1860 support will turn intraday bias neutral first. But break of 1.1712 support is needed to indicate completion of rise from 1.1553. Otherwise, outlook will remain cautiously bullish in case of retreat.

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) 1.0581; (P) 1.0621 (R1) 1.0644; More…..

Intraday bias in EUR/USD stays mildly on the downside for the moment. Deeper fall could be seen back to 1.0494 support. Overall, price actions from 1.0339 are seen as a corrective pattern. Break of 1.0494 will revive that case that such correction is completed. And in such case, deeper decline should be seen to retest 1.0339. Meanwhile, above 1.0713 will turn bias back to the upside for 1.0828 and above to extend the correction from 1.0339.

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) 1.0607; (P) 1.0673 (R1) 1.0719; More…

Intraday bias in EUR/USD stays neutral at this point. On the upside, break of 1.0786, and sustained trading above 55 day EMA (now at 1.0757) will target 1.0935 resistance next. On the downside, however, break of 1.0626 minor support will indicate rejection by 55 day EMA, and 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) 1.2326; (P) 1.2370 (R1) 1.2452; More….

EUR/USD’s rally is still in progress and reaches as high as 1.2438 so far today. Intraday bias remains on the upside for target next key fibonacci cluster level at 1.2494/2516. At this point, we’d still expect strong resistance from there to limit upside and bring reversal. On the downside, below 1.2322 minor support will turn intraday bias neutral first.

In the bigger picture, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Therefore, in case of further 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. Break of 1.1553 support will confirm completion of the rise. 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.

Daily Pivots: (S1) 1.1957; (P) 1.1972; (R1) 1.1996; More….

Intraday bias in EUR/USD stays on the upside for the moment. Decisive break of 1.1988 resistance should affirm the case that correction from 1.2348 has completed at 1.1703. Further rally should then be seen to retest 1.2242/2348 resistance zone. On the downside, below 1.1876 minor support will dampen the bullish case, and turn bias back to the downside for 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) 1.1935; (P) 1.1956 (R1) 1.1987; More…

EUR/USD is staying in consolidation below 1.2091 and intraday bias remains neutral first. Overall, outlook remains bullish as long as 1.1822 support holds. Above 1.2091 will extend larger rise from 1.0339 and target next key fibonacci level at 1.2516. 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) 1.2006; (P) 1.2044 (R1) 1.2068; More….

EUR/USD’s fall from 1.2088 extends lower today. Break of 4 hour 55 EMA argues that it’s rejected by 1.2091 key near term resistance. And, such decline could be the third leg of consolidation pattern from 1.2091. Intraday bias is turned to the downside for 38.2% retracement of 1.1553 to 1.2088 at 1.1884. Break of 1.1884 will target 61.8% retracement at 1.1757 and below. On the upside, firm break of 1.2091 is needed to confirm up trend resumption. Otherwise, we’d expect more corrective trading in near term.

In the bigger picture, rise from 1.0339 medium term bottom is still 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) 1.0783; (P) 1.0804; (R1) 1.0842; More…

Intraday bias in EUR/USD remains on the upside as rise from 1.0601 is in progress. Firm break of 1.0884 will pave the way to 1.0980 resistance next. On the downside, below 1.0812 minor support will turn intraday bias neutral first. But further rally is expected as long as 1.0765 support holds, in case of retreat.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern. Fall from 1.1138 is seen as the third leg and could have completed. Firm break of 1.1138 will argue that larger up trend from 0.9534 (2022 low) is ready to resume through 1.1274 high. On the downside, break of 1.0601 will extend the corrective pattern instead.