Daily Pivots: (S1) 1.1075; (P) 1.1091; (R1) 1.1116; More…

No change in EUR/USD’s outlook. With 1.1130 minor resistance intact, further fall is expected for 1.1026 low. Decisive break there will extend the downtrend from 1.2555. On the upside, above 1.1130 minor resistance will turn intraday bias back to the upside to extend the correction from 1.1026. But in that case, we’d expect strong resistance from 1.1249 to limit upside.

In the bigger picture, down trend from 1.2555 (2018 high) is in progress and extending. Prior rejection of 55 week EMA also maintained bearishness. Further fall should be seen to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Decisive break there will target 1.0339 (2017 low). On the upside, break of 1.1412 resistance is needed to indicate medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.1830; (P) 1.1857; (R1) 1.1876; More…

Some jitter is seen in EUR/USD in early US session. But intraday bias stays on the downside with 1.1883 minor resistance intact. Fall from 1.2263, as the third leg of the consolidation pattern from 1.2348, should target 1.1703 support. On the upside, above 1.1883 minor resistance will turn intraday bias neutral first. But break of 1.1974 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish 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. 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) 1.1160; (P) 1.1202; (R1) 1.1285; More…

EUR/USD surges to as high as 1.1340 so far today. The strong break of 1.1239 resistance confirms medium term bottoming at 1.0777. Intraday bias stays on the upside for 1.1456 fibonacci level next. Reactions from there would reveal if there is medium term bullish reversal. On the downside, though, break of 1.1095 minor support is needed to indicate short term topping. Otherwise, near term outlook will remain bullish in case of recovery.

In the bigger picture, a medium term bottom should have formed at 1.0777 after drawing support from 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break of 38.2% retracement of 1.2555 to 1.0777 at 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876. Rejection by 1.1456 will suggests that price action from 1.0777 are merely a correction. And another fall below 1.0777 low would be seen at a later stage.

Daily Pivots: (S1) 1.1543; (P) 1.1571; (R1) 1.1623; More…..

Intraday bias in EUR/USD remains mildly on the upside as rebound from 1.1431 is in progress, for 55 day EMA and above. But still, we’d expect upside to be limited by 1.1779/1814 resistance zone to bring down trend resumption eventually. On the downside, below 1.1534 minor support will turn bias back to the downside. Further break of 1.1431 will bring retest of 1.1300 low.

In the bigger picture, corrective pattern from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300 at 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) 1.0797; (P) 1.0883; (R1) 1.0944; More…

EUR/USD’s fall from 1.1147 is still in progress and intraday bias stays on the downside for 1.0635 low. Decisive break there will confirm larger down trend resumption. On the upside, break of 1.0926 minor resistance will extend the corrective rise from 1.0635. Intraday bias will be turned back to the upside for 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) 1.0990; (P) 1.1014; (R1) 1.1059; More…

EUR/USD’s rebound from 1.0926 extends higher today. But it’s staying well below 1.1164 resistance and further decline is still in favor. Break of 1.0926 will resume lager down trend from 1.2555. However, firm break of 1.1164 will turn near term outlook bullish for 1.1412 key resistance.

In the bigger picture, down trend from 1.2555 (2018 high) is in progress and extending. Prior rejection of 55 week EMA also maintained bearishness. Further fall should be seen to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Decisive break there will target 1.0339 (2017 low). On the upside, break of 1.1412 resistance is needed to indicate medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.2086; (P) 1.2116; (R1) 1.2157; More…

EUR/USD retreats notably after hitting 4 hour 55 EMA. But still, as a short term bottom should be formed at 1.2052, another rise remains mildly in favor. Rebound form 1.2052 would target a test on 1.2348 high. However, decisive break of 1.2058 cluster support (38.2% retracement of 1.1602 to 1.2348 at 1.2063) will pave the way to 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) 1.2068; (P) 1.2080; (R1) 1.2103; More….

EUR/USD is staying in consolidation from 1.2116 temporary top and intraday bias remains neutral first. Further rise is expected with 1.1992 support intact. Break of 1.2116 will resume the rise from 1.1703 for retesting 1.2242/2348 resistance zone. On the downside, though, break of 1.1992, will turn bias to the downside for deeper pull back.

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) 1.0513; (P) 1.0556; (R1) 1.0630; More…

EUR/USD dips mildly today but stays well inside range of 1.0447/0616. Intraday bias remains neutral for the moment. On the upside, firm break of 1.0616 resistance will confirm short term bottoming, and turn bias back to the upside for stronger rebound. Nevertheless, rejection by 1.0616 will retain near term bearishness. Break of 1.0447 will resume the fall from 1.1274 to 1.0199 fibonacci level next.

In the bigger picture, fall from 1.1274 medium term top could still be a correction to rise from 0.9534 (2022 low). But chance of a complete trend reversal is rising. In either case, current fall should target 61.8% retracement of 0.9534 to 1.1274 at 1.0199 next. For now, risk will stay on the downside as long as 55 D EMA (now at 1.0730) holds, in case of rebound.

Daily Pivots: (S1) 1.0873; (P) 1.0893; (R1) 1.0917; More…

Intraday bias in EUR/USD remains neutral for the moment. On the downside, decisive break of 1.0832 support will resume the fall from 1.1274 and target 1.0609/34 cluster support next. On the upside, above 1.0951 minor resistance will turn intraday bias to the upside for stronger recovery.

In the bigger picture, a medium term top should be formed at 1.1274, after failing to break through 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 decisively, on bearish divergence condition in D MACD. Fall from there is seen as a correction to the uptrend from 0.9534 (2022 low). Deeper decline would be seen to 1.0634 cluster support (38.2% retracement of 0.9534 to 1.1274 at 1.0609). Strong support could be seen there, at least on first attempt, to set the range for consolidation. Yet, medium term outlook will be neutral for now, as long as 1.1274 resistance holds.

Daily Pivots: (S1) 1.1741; (P) 1.1808; (R1) 1.1844; More…

Intraday bias in EUR/USD is back on the downside with break of 1.1780. Fall from 1.2265, as the third leg of correction from 1.2348, would target 1.1703 support. On the upside, though, break of 1.1880 resistance should indicate short term bottoming, and bring stronger rebound to 1.1974 resistance first.

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) 1.1371; (P) 1.1433; (R1) 1.1491; More…

Intraday bias in EUR/USD remains neutral at this point. Further rise is still in favor as long as 1.1265 minor support holds. Sustained 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) 1.1337; (P) 1.1375; (R1) 1.1405; More……

Intraday bias in EUR/USD remains neutral for the moment. With 1.1317 minor support intact, another rise remains in favor. On the upside, break of 100% projection of 1.1107 to 1.1347 from 1.1181 at 1.1142 will pave the way to 161.8% projection at 1.1569 next. However, firm break of 1.1317 will be an early sign of completion of rise from 1.1107. Intraday bias will be turned back to the downside for 1.1181 support instead.

In the bigger picture, considering bullish convergence condition in daily and weekly MACD, a medium term bottom should be in place at 1.1107 after hitting 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186. Further rise should be seen to 38.2% retracement of 1.2555 to 1.1107 at 1.1660. Reactions from there could indicate whether rebound from 1.1107 is a corrective rise or reversing medium term trend.

Daily Pivots: (S1) 1.0275; (P) 1.0320; (R1) 1.0363; More…

Intraday bias in EUR/USD is turned neutral, but focus stays on 1.0348 support turned resistance, which is close to 55 day EMA (now at 1.0346). Decisive break there argue that rally from 0.9951 is at least correcting the fall from 1.1494. Further rise should then be seen to 38.2% retracement of 1.1494 to 0.9951 at 1.0540. On the downside, break of 1.0201 minor support will suggest that such rebound has completed and bring retest of 0.9951 low instead.

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) 1.1128; (P) 1.1169; (R1) 1.1192; More…

EUR/USD’s fall from 1.1412 is still in progress and intraday bias remains on the downside for 1.1107 low. At this point, we’re not expecting a break there yet. Thus, focus will be on bottoming signals around 1.1107. On the upside, break of 1.1193 support turned resistance will turn intraday bias remains neutral first. But break of 1.1282 resistance is needed to signal completion of fall from 1.1412. Otherwise, further decline is in favor even in case of recovery.

In the bigger picture, on the one hand, 1.1107 is seen as a medium term bottom on bullish convergence condition in weekly MACD. On the other hand, rejection by 55 week EMA retains medium term bearishness. Outlook stays neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

Daily Pivots: (S1) 1.0853; (P) 1.0881; (R1) 1.0907; More…

EUR/USD’s rebound from 1.0777 extends further to as high as 1.0978 today. The strength suggests that it’s corrective whole fall from 1.1239 to 1.0777. Intraday bias remains on the upside for 61.8% retracement of 1.1239 to 1.0777 at 1.1063 next. We’d expect strong resistance from there to limit upside. Below 1.0890 minor support will turn bias to the downside for retesting 1.0777 low. However, sustained break of 1.1063 will raise the chance of larger reversal and target 1.1239 key resistance.

In the bigger picture, down trend from 1.2555 (2018 high) has just resumed and prior rejection by 55 week EMA affirms medium term bearishness. Sustained break of 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813 will pave the way to retest 1.0339 low. For now, outlook will remain bearish as long as 1.1239 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 0.9793; (P) 0.9850; (R1) 0.9891; More…

EUR/USD’s decline is still in progress and intraday bias remains on the downside for 100% projection of 1.0368 to 0.9863 from 1.0197 at 0.9692. Firm break there could prompt downside acceleration and target 161.8% projection at 0.9380. On the upside, above 0.9906 minor resistance will turn intraday bias neutral first. But outlook will stay bearish as long as 1.0197 resistance holds, in case of recovery.

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) 1.0874; (P) 1.0911; (R1) 1.0936; More…

Intraday bias in EUR/USD remains on the downside with 1.0958 minor resistance intact. Current down trend is in progress for 1.0813 fibonacci level next. On the upside, break of 1.0958 minor resistance will turn intraday bias neutral again. But outlook will remain bearish as long as 1.1109 resistance holds.

In the bigger picture, down trend from 1.2555 (2018 high) is in progress. Prior rejection of 55 week EMA also maintained bearishness. Further fall should be seen to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Decisive break there will target 1.0339 (2017 low). On the upside, break of 1.1412 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.0681; (P) 1.0732 (R1) 1.0786; 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 1.641 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) 1.0474; (P) 1.0558 (R1) 1.0623; More…

Intraday bias in EUR/USD remains neutral and outlook stays bearish with 1.0756 support turned resistance intact. On the downside, break of 1.0470 will resume larger down trend. Next target will be 161.8% projection of 1.1494 to 1.0805 from 1.1184 at 1.0069.

In the bigger picture, the decline from 1.2348 (2021 high) is expected to continue as long as 1.1185 support turned resistance holds. The break of 1.0635 (2020 low) now raises the chance that it’s resuming long term down trend from 1.6039 (2008 high). Retest of 1.0339 (2017 low) low should be seen next. Decisive break there will confirm this bearish case.