Daily Pivots: (S1) 1.1632; (P) 1.1676; (R1) 1.1709; More…..

Intraday bias in EUR/USD remains neutral for consolidation below 1.1733 low. Further rise could still be seen. But for now, we’d continue to 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 1.1529 minor will indicate completion of the rebound and turn bias to the downside for retesting 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) 1.0874; (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) 1.1355; (P) 1.1399; (R1) 1.1426; More….

Intraday bias in EUR/USD remains neutral and outlook is unchanged. 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) 1.0937; (P) 1.0978; (R1) 1.1020; More…

With 1.0891 minor support intact, intraday bias in EUR/USD remains mildly on the upside. Corrective pattern from 1.0635 is in the third leg and could target 1.1147 resistance. But strong resistance should be seen from 61.8% retracement of 1.1496 to 1.0635 at 1.1167 to limit upside. On the downside, break of 1.0891 minor support will turn bias back to the downside for 1.0727 support. However, sustained break of 1.1167 will dampen our view and target 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.

Daily Pivots: (S1) 1.1208; (P) 1.1255; (R1) 1.1288; More….

Intraday bias in EUR/USD remains neutral and outlook is unchanged. On the downside, break of 1.1168 will target 38.2% retracement of 1.0635 to 1.1422 at 1.1121. Sustained break there will argue that whole rebound from 1.0635 has completed and bring deeper fall to 61.8% retracement at 1.0936. On the upside, break of 1.1348 will likely resume the rise from 1.0635 through 1.1422 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.

Daily Pivots: (S1) 1.0380; (P) 1.0414; (R1) 1.0447; More…

EUR/USD is still bounded in range below 1.0481 and intraday bias stays neutral. As long as 1.0092 resistance turned support holds, further rally is expected. On the upside, break of 1.0481 will resume the rise from 0.9534 and target 1.0609 fibonacci level. However, sustained break of 1.0092 will turn bias to the downside for 55 day EMA (now at 1.0055) and below.

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) 1.0568; (P) 1.0774; (R1) 1.0894; More…

Intraday bias in EUR/USD stays on the downside at this point. Prior break of 1.0777 low suggests that medium term down trend might be resuming. Sustained trading below 1.0777 will pave the way to 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. On the upside, though, break of 1.1045 resistance will indicate short term bottoming and turn bias to the upside for rebound.

In the bigger picture, rebound from 1.0777 low faced heavy rejection from 38.2% retracement of 1.2555 to 1.0777 at 1.1456, as well as 55 month EMA. The development argues that price actions from 1.0777 medium term pattern were just correcting the down trend from 1.2555 (2018 high). Further decline is in favor to retest 1.0339 (2017 low). Nevertheless, sustained break of 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876.

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.

Daily Pivots: (S1) 1.1248; (P) 1.1277; (R1) 1.1321; More…..

EUR/USD’s recovery from 1.1234 extends today but upside is held below 1.1341 minor resistance. Intraday bias remains neutral and further decline is still in favor. On the downside, decisive break of 1.1215 low will resume the larger down trend from 1.2555 to 1.1186 fibonacci level next. Nevertheless, break of 1.1341 will suggests that consolidation from 1.1215 is extending with another rising leg back towards 1.1514 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) 1.2068; (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) 1.1739; (P) 1.1786; (R1) 1.1826; More…..

EUR/USD is bounded in consolidation from 1.2011 high for now. A deeper falling leg could be seen towards 1.1602 support. Meanwhile, on the upside, break of 1.1920 will resume the rise from1 .1602 for resting 1.2011 high. Overall, sideway trading will continue for the near term.

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 1.1422 resistance turned support holds.

EUR/USD edged lower to 1.1528 last week but lost momentum again. Initial bias is neutral this week first, but further fall is still in favor as long as 1.1639 minor resistance holds. Break of 1.1528 will resume larger decline towards 1.1289 medium term fibonacci level. 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.

In the long term picture, EUR/USD has possibly failed 1.2555 cluster resistance (38.2% retracement of 1.6039 to 1.0339 at 1.2516) already. Long term outlook will remain neutral as sideway pattern from 1.0339 (2017 low) is extending with another medium term fall. For now, we’d hold back from assessing the change of downside breakout, and monitor the momentum of the decline from 1.2348 first.

Daily Pivots: (S1) 1.1291; (P) 1.1311; (R1) 1.1332; More…..

Intraday bias in EUR/USD remains neutral and with 1.1251 minor support intact further rise remains mildly in favor. On the upside, above 1.1347 will target 1.1448 key resistance next. Decisive break there will carry larger bullish implications. On the downside, break of 1.1251 minor support will suggest that recovery from 1.1107 has completed. Intraday bias will be turned back to the downside for retesting 1.1107 low.

In the bigger picture, current development argues that a medium term bottom could be in place at 1.1107, on bullish convergence condition in daily MACD. Decisive break of 1.1448 resistance would confirm this case. And stronger rebound would be seen to 38.2% retracement of 1.2555 to 1.1107 at 1.1660. At this point, it’s early to judge whether rise from 1.1107 is a corrective move or the start of an medium term up trend. We’d look at the structure of the rebound to decide later. But in any case, for now, risk will remain on the upside as long as 1.1107 low holds.

Daily Pivots: (S1) 1.2125; (P) 1.2149; (R1) 1.2194; More…

Intraday bias in EUR/USD remains on the upside at this point. Rebound form 1.2052 short term bottom should target a test on 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) 0.9960; (P) 1.0013; (R1) 1.0074; More…

EUR/USD continues to lose downside momentum as seen in 4 hour MACD. But further decline is still expected with 1.0121 minor resistance intact. Sustained 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. Nevertheless, break of 1.0121 will indicate short term bottoming, and turn bias back to the upside for rebound, towards 1.0348 support turned resistance.

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) 1.0809; (P) 1.0870; (R1) 1.0907; More…

Immediate focus is now on 1.0832 support in EUR/USD. Firm break there will resume whole fall from 1.1274, and target target 1.0609/34 cluster support next. On the upside, however, break of 1.0929 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) 1.0259; (P) 1.0283; (R1) 1.0328; More…

EUR/USD recovered after drawing support from 4 hour 55 EMA, but stays well below 1.0481. Intraday bias remains neutral an more consolidative trading could be seen. But after all, as long as 1.0092 resistance turned support holds, further rally is still expected. On the upside, break of 1.0481 will resume the rise from 0.9534 and target 1.0609 fibonacci level. However, sustained break of 1.0092 will turn bias to the downside for 55 day EMA (now at 1.0052) and below.

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) 1.1746; (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) 1.0129; (P) 1.0182; (R1) 1.0249; More…

Intraday bias in EUR/USD remains neutral and outlook is unchanged. On the upside, above 1.0277 minor resistance will target 1.0348 resistance first. Break there will target channel resistance at 1.0469. on the downside, break of 1.0095 minor support will 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) 1.0537; (P) 1.0592; (R1) 1.0702; More…

Immediate focus is now on 1.0733 resistance in EUR/USD. Firm break there will resume whole rally from 0.9534. Next target will be 61.8% projection of 0.9630 to 1.0733 from 1.0482 at 1.1164. For now, outlook will continue stay bullish as long as 1.0482 support holds, in case of retreat.

In the bigger picture, focus stays on 38.2% retracement of 1.2348 (2021 high) to 0.9534 at 1.0609. Rejection by 1.0609 will suggest that price actions from 0.9534 medium term bottom are developing into a corrective pattern. Thus, medium bearishness is retained for another fall through 0.9534 at a later stage. However, sustained break of 1.0609 will raise the chance of trend reversal and target 61.8% retracement at 1.1273.