Daily Pivots: (S1) 1.1762; (P) 1.1782; (R1) 1.1795; More…

Intraday bias in EUR/USD is turned neutral with the current retreat. On the upside, above 1.1804 will resume the rebound from 1.1705 to 1.1907 near term structural resistance. On the downside, however, break of 1.1705 will resume larger fall to 1.1602/1703 key support zone again. We’d look for strong support from there to rebound, but sustained break will carry larger bearish implication.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally remains in favors long as 1.1602 support holds, to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). 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) 1.1834; (P) 1.1863 (R1) 1.1897; More…

EUR/USD dips notably in early US session but it’s staying well above 1.1722 minor support. Intraday bias remains neutral as the consolidation from 1.1908 is extending. But still, with 1.1722 support intact, further rally is expected. Break of 1.1908 will target 1.2 psychological level. Considering bearish divergence condition in 4 hour MACD, we’ll be cautious on topping around there to bring correction. On the downside, break of 1.1722 will indicate short term topping and bring deeper pull back to 55 day EMA (now at 1.1414).

In the bigger picture, an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Sustained break of 55 month EMA (now at 1.1760) will pave the way to key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. While rise from 1.0339 is strong, there is no confirmation that it’s developing into a long term up trend yet. Hence, we’ll be cautious on strong resistance from 1.2516 to limit upside. But for now, medium term outlook will remain bullish as long as 1.1295 support holds, in case of pull back.

Daily Pivots: (S1) 1.2025; (P) 1.2050; (R1) 1.2088; More….

EUR/USD is staying in consolidation below 1.2149 and intraday bias remains neutral. Downside should be contained by 38.2% retracement of 1.1703 to 1.2149 at 1.1979 to bring rebound. On the upside, above 1.2075 minor resistance will turn bias back to the upside for 1.2149 resistance. Break there will resume the rise from 1.1703 to 1.2242/2348 resistance zone. However, firm break of 1.1979 will bring deeper fall to 1.1873.

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) 1.1709; (P) 1.1729; (R1) 1.1766; More…

Intraday bias in EUR/USD stays neutral and outlook is unchanged. Another fall cannot be ruled out yet. But we’d continue to look for strong support from 1.1602/1703 key support zone to bring rebound. On the upside, above 1.1804 resistance will turn bias back to the upside for 1.1907 resistance first. However, sustained break of 1.1602/1703 will carry larger bearish implication and pave the way to 1.1289 fibonacci 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 remains in favors long as 1.1602 support holds, to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). However sustained break of 1.1602 will argue that the rise from 1.0635 is over, and turn medium term outlook bearish again. Deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289 and below.

Daily Pivots: (S1) 1.1236; (P) 1.1258; (R1) 1.1294; More…

Intraday bias in EUR/USD remains neutral first and further fall is still in favor with 1.1299 minor resistance intact. On the downside, break of 1.1120 will resume larger down trend to 61.8% projection of 1.1908 to 1.1185 from 1.1482 at 1.1035. However, break of 1.1299 minor resistance will bring stronger rebound back towards 1.1482 structural resistance.

In the bigger picture, the strength of the the decline from 1.2348 (2021 high) suggests that it’s not a corrective move. But still, it could be 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 1.1482 resistance holds. Next target would be 1.0635 low.

Daily Pivots: (S1) 1.1618; (P) 1.1657; (R1) 1.1718; More…..

EUR/USD’s rally is still in progress and reaches as high as 1.1727 so far. Intraday bias remains on the upside for 38.2% retracement of 1.2555 to 1.1300 at 1.1779. We’d expect upside to be limited there, at least on initial attempt, to bring near term reversal. However, break of 1.1529 minor support is needed to signal completion of the rebound first. Otherwise, further rise will remain in favor even in case of retreat. Break of 1.1529 will bring retest of 1.1300 low. After all, consolidation from 1.1300 will extend for a while 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).

Daily Pivots: (S1) 1.0788; (P) 1.0843; (R1) 1.0873; More…

EUR/USD drops mildly today but stays in familiar range. Intraday bias remains neutral first. Price actions from 1.0635 are seen as a corrective pattern. On the downside, break of 1.0727 support will raise the chance that the correction is completed. Intraday bias will be turned to the downside for retesting 1.0635 low. On the upside, above 1.0895 will turn bias to the upside for 1.1019 resistance to extend the pattern. But in that case, upside should be limited 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) 1.1308; (P) 1.1370; (R1) 1.1409; More…

Intraday bias in EUR/USD remains neutral for the moment. Further rise will remain mildly in favor as long as 1.1265 minor support holds. On the upside break of 1.1482 will target 38.2% retracement of 1.2348 to 1.1120 at 1.1589 next. Sustained break there will argue that whole fall from 1.2348 has completed too and target 61.8% retracement at 1.1879. On the down, however, break of 1.1265 support will dampen this bullish view and bring retest of 1.1120 low instead.

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 1.1613) 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) 1.0731; (P) 1.0780 (R1) 1.0804; More…..

Intraday bias in EUR/USD remains neutral as it’s staying in tight range below 1.0828 temporary top. Another rise cannot be ruled out yet. However, choppy rise from 1.0339 is viewed as a corrective move. Hence, we’d expect upside to be limited by 1.0872 resistance and bring reversal. On the downside, break of 1.0619 will indicate that such rise is completed and turn bias to the downside for retesting 1.0339 low.

In the bigger picture, whole down trend from 1.6039 (2008 high) is in progress. Such down trend is expected to extend to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. On the upside, break of 1.1298 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

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Daily Pivots: (S1) 1.1798; (P) 1.1821; (R1) 1.1857; More…..

Intraday bias in EUR/USD remains neutral as this point as range trading continues. As long as 1.1711 support holds, further rise is mildly in favor. On the upside, break of 1.1965 will extend the whole rise from 1.0635. However, considering bearish divergence condition in 4 hour MACD, break of 1.1711 should confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.1571).

In the bigger picture, down trend from 1.2555 (2018 high) has completed at 1.0635 already. Rise form 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) 1.0550; (P) 1.0571; (R1) 1.0603; More…

Intraday bias in EUR/USD remains neutral first. Firm break of 1.0693 resistance will argue that pull back from 1.1032 has completed. Intraday bias will be turned back to the upside for 1.0803 resistance and above. In case of another decline, strong support could be seen from 38.2% retracement of 0.9534 to 1.1032 at 1.0463 to bring reversal.

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.

Daily Pivots: (S1) 1.0957; (P) 1.1005; (R1) 1.1084; More…

EUR/USD’s from 1.1147 is extending today and intraday bias stays on the downside. Rebound from 1.0635 could have completed at 1.1147 already. Deeper fall is mildly in favor for retesting 1.0635 low. On the upside, however, decisive break of 61.8% retracement of 1.1496 to 1.0635 at 1.1167 will raise the chance of larger trend reversal and turn focus to 1.1496 key resistance.

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.

EUR/USD rebounded strongly last week and hit as high as 1.0698. The strong break of 1.0630 resistance indicates completion of corrective pull back from 1.0828. More importantly, whole rise from 1.0339 is possibly resuming. But still, such rise is still seen as a correction and the larger down trend should resume after it completes.

Initial bias in EUR/USD remains on the upside this week for 1.0828. Break there will target 100% projection of 1.0339 to 1.0828 from 1.0494 at 1.0983. But upside should be limited there to completion the corrective rise and bring reversal. Meanwhile, on the downside, break of prior resistance at 1.0630 will turn bias back to the downside for retesting 1.0494 low.

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.

In the long term picture, the down trend from 1.6039 (2008 high) is still in progress and there is no clear sign of completion. We’d expect more downside towards 0.8223 (2000 low) as long as 1.1298 resistance holds. However, firm break of 1.1298 should now confirm long term reversal.

EUR/USD edged lower to 1.1183 but recovered ahead of 1.1176 low. Initial bias remains neutral this week for some more consolidation first. 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.

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. 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. This will remain the favored case as long as 1.1569 resistance holds.

Daily Pivots: (S1) 1.1985; (P) 1.2006; (R1) 1.2026; More….

Focus is now on 1.2075 minor resistance in EUR/USD with today’s recovery. Break there will indicate that pull back from 1.2149 has completed and bring retest of this resistance. Break there will resume rise from 1.1703 to 1.2242/2348 resistance zone. In case of another fall, we’d continue to expect strong support from 38.2% retracement of 1.1703 to 1.2149 at 1.1979 to bring rebound. However, firm break of 1.1979 will bring deeper fall to 61.8% retracement at 1.1873.

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) 1.1459; (P) 1.1494; (R1) 1.1529; More…..

EUR/USD’s fall from 1.1814 continues today and reaches as low as 1.1431 so far. Intraday bias remains on the downside for retesting 1.1300 low. Decisive break there will resume larger down trend from 1.2555. On the upside, break of 1.1549 resistance is needed to signal short term bottoming. Otherwise, outlook will remain mildly bearish even in case of recovery.

In the bigger picture, corrective pattern from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300at 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) 1.0902; (P) 1.0917 (R1) 1.0946; More….

Intraday bias in EUR/USD stays neutral as the consolidation form 1.0949 temporary top continues. At this point, further rise is still expected as long as 1.0851 minor support holds. However, choppy rebound from 1.0339 is seen as a correction. Hence we’d look for topping again on next rise. Meanwhile, on the downside, break of 1.0777 will turn turn bias to the downside for 1.0851 support first.

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. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate term reversal. This would also be supported by sustained trading above 55 week EMA.

EUR/USD’s rebound from 1.1176 continued last week despite lost of upside momentum. No change in the view that it’s a corrective move. Hence, in case of another rise, upside should be limited below 1.1419 resistance to bring down trend resumption. On the downside, below 1.1277 minor support will turn bias to the downside for 1.1176 low first. Break of 1.1176 will target 100% projection of 1.1814 to 1.1215 from 1.1569 at 1.0970 next.

In the bigger picture, down trend from 1.2555 medium term top is still in progress. Bearishness is affirmed by sustained trading below falling 55 week EMA. 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 is met. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1569 resistance will now indicate completion of such down trend and turn medium term outlook bullish.

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. 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. This will remain the favored case as long as 1.1569 resistance holds.

Daily Pivots: (S1) 1.2290; (P) 1.2334 (R1) 1.2370; More….

EUR/USD is holding inside tight range above 1.2302 minor support. Intraday bias stays neutral first. On the upside, above 1.2396 will extend the rise from 1.2214 to 1.2475 and then 1.2555. 1.2516/55 is the key resistance zone to determine larger outlook. On the downside, below 1.2302 will turn bias to the downside for 1.2214 support first. And firm break there will revive the case of rejection by 1.2516 key fibonacci level and turn outlook bearish.

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) 1.2018; (P) 1.2059; (R1) 1.2091; More…

Intraday bias in EUR/USD stays on the downside at this point. Corrective pattern from 1.2348 is in its third led. Break of 1.1951 support 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.