Daily Pivots: (S1) 1.1199; (P) 1.1235; (R1) 1.1300; More….
Intraday bias in EUR/USD remains neutral for the moment. Another fall is mildly in favor as long as 1.1353 resistance holds. On the downside, below 1.1168 will target 38.2% retracement of 1.0635 to 1.1422 at 1.1121. However, firm break of 1.1353 will turn bias back to the upside for 1.1422 high and above.
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.
