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EURUSD Outlook |
Written by ActionForex.com |
Jul 02 09 14:22 GMT |
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EUR/USD dives sharply to as low as 1.4004 in early US session and focus is now on 1.4000 support. Break there will suggest that whole recovery from 1.3474 has completed. Further break of 1.3826 support will indicate that fall from 1.4337 is likely resuming for trend line support (now at 1.3494). On the upside, while another rally cannot be ruled out, we have pointed out that momentum of rise from 1.3474 is unconvincing and the structure looks corrective too. Hence, we'd still prefer it to be limited below 1.4337 and bring at least another fall to below 1.3474. |
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EURUSD Outlook |
Written by ActionForex.com |
Jul 02 09 08:48 GMT |
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EUR/USD retreats again after crawling to 1.4196. Another rise might still be seen with 1.4000 minor support holds. However, as mentioned before, momentum of rise from 1.3474 is unconvincing and the structure looks corrective too. We'd slightly prefer that it will be limited below 1.4337 high and bring another fall. Below 1.4000 will will suggest that such recovery has completed and will flip intraday bias back to the downside. Further break of 1.3826 support will indicate that fall from 1.4337 is likely resuming for trend line support (now at 1.3494). On the upside, even if EUR/USD breaks above 1.4337 high, momentum is expected to diminish as it meets trend line resistance at 1.4402. |
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EURUSD Outlook |
Written by ActionForex.com |
Jul 01 09 14:35 GMT |
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EUR/USD takes out 1.4151 resistance in early US session and the break indicates that rise from 1.3747 is still in progress. As noted before, momentum of such rise is unconvincing and the structure looks corrective too. But after all, as long as 1.4000 minor support holds, further upside could still be seen to retest 1.4337 high. On the downside, however, below 1.4000 will suggest that such recovery has completed and will flip intraday bias back to the downside. Further break of 1.3826 support will indicate that fall from 1.4337 is likely resuming for trend line support (now at 1.3489). |
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EURUSD Outlook |
Written by ActionForex.com |
Jul 01 09 09:03 GMT |
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EUR/USD continues to stay in tight range of 1.3982 and 1.4151 today and intraday outlook remains neutral for the moment. Momentum of the rise from 1.3747 was unconvincing and the structure looks corrective3 too. A break below 1.3982 minor support will suggest that such recovery has completed and will flip intraday bias back to the downside. Further break of 1.3826 support will indicate that fall from 1.4337 is likely resuming for trend line support (now at 1.3489). On the upside, though, above 1.4151 will indicate that rise from 1.3747 is still in progress for 1.4337 or above. |
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EURUSD Outlook |
Written by ActionForex.com |
Jun 30 09 14:33 GMT |
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EUR/USD retreats sharply despite edging higher to 1.4151 earlier today. INtraday outlook is turned neutral again for the moment. Note that upside moment of the rise from 1.3747 is so far unconvincing. A break below 1.3982 minor support will be the first signal choppy recovery from 1.3747 has completed and will flip intraday bias back to the downside. Further break of 1.3826 support will indicate that fall from 1.4337 is likely resuming for trend line support (now at 1.3489). On the upside, though, above 1.4151 will indicate that rise from 1.3747 is still in progress for 1.4337 or above. |
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EURUSD Outlook |
Written by ActionForex.com |
Jun 30 09 08:55 GMT |
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EUR/USD's break of 1.4137 resistance suggests that rebound from 1.3747 is resuming. While upside momentum is unconvincing for the moment, intraday bias remains mildly on the upside as long as 1.3982 minor support holds. Break of 1.4171 will target retest of 1.4337 high. While another high above 1.4337 cannot be ruled out, we'd continue to expect diminishing momentum as EUR/USD meet trend line resistance (now at 1.4400). On the downside, though, below 1.3982 will be the first signal choppy recovery from 1.3747 has completed and will flip intraday bias back to the downside. Further break of 1.3826 support will indicate that fall from 1.4337 is likely resuming for trend line support (now at 1.3489). |
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EURUSD Outlook |
Written by ActionForex.com |
Jun 29 09 14:13 GMT |
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EUR/USD was supported by 4 hours 55 EMA and recovered. We'll continue to stay neutral until a break of 1.3826/4137 range. Above 1.4137 resistance will suggest that rise from 1.3747 is still in progress and will favor extension to 1.4337 or above. But still, upside momentum should start to diminish as EUR/USD meet trend line resistance (now at 1.4400). On the downside, below 1.3826 support will indicate that rebound from 1.3747 has completed and fall from 1.4337 is resuming, in this case, to test trend line support (now at 1.3462). |
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EURUSD Outlook |
Written by ActionForex.com |
Jun 29 09 09:00 GMT |
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EUR/USD failed 1.4137 resistance and retreats again. We'll continue to stay neutral until a break of 1.3826/4137 range. Above 1.4137 resistance will suggest that rise from 1.3747 is still in progress and will favor extension to 1.4337 or above. But still, upside momentum should start to diminish as EUR/USD meet trend line resistance (now at 1.4400). On the downside, below 1.3826 support will indicate that rebound from 1.3747 has completed and fall from 1.4337 is resuming, in this case, to test trend line support (now at 1.3462). |
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EURUSD Outlook |
Written by ActionForex.com |
Jun 27 09 14:43 GMT |
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EUR/USD rebounded to 1.4137 early last week but failed to take out 1.4171 resistance, thus didn't confirm completion of fall from 1.4337. The three wave structure of the rebound from 1.3747 to 1.4137 argues fall from 1.4337 is still in progress but the bearish case was not confirmed by a break of 1.3826 support neither. After all, outlook in EUR/USD is rather mixed and we'd prefer to stay neutral until at least a break of 1.3826/4137 range. In any case, above 1.4137 will suggest that rise from 1.3747 is still in progress and will favor extension to 1.4337 or above. On the downside, below 1.3826 support will indicate that rebound from 1.3747 has completed and fall from 1.4337 is resuming, in this case, to test trend line support (now at 1.3442). |
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EURUSD Outlook |
Written by ActionForex.com |
Jun 26 09 13:42 GMT |
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We'll continue to stay neutral with EUR/USD staying in range of 1.3826 and 1.4130. As noted before, the three wave corrective structure of rebound from 1.3747 aruges that fall from 1.4337 is still in progress. Below 1.3826 will affirm the bearish case that EUR/USD has topped out at 1.4337 and should bring deeper decline through 1.3747 low towards channel support (now at 1.3446). On the upside, above 1.4137 will indicate that rise from 1.3747 is still in progress and should bring retest of 1.4337 high. But even in case of a break there, we'll continue to focus on reversal signal as EUR/USD meets medium term trend line resistance (now at 1.4404). |
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EURUSD Outlook |
Written by ActionForex.com |
Jun 26 09 08:41 GMT |
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We'll continue to stay neutral with EUR/USD staying in range of 1.3826 and 1.4130. As noted before, the three wave corrective structure of rebound from 1.3747 aruges that fall from 1.4337 is still in progress. Below 1.3826 will affirm the bearish case that EUR/USD has topped out at 1.4337 and should bring deeper decline through 1.3747 low towards channel support (now at 1.3446). On the upside, above 1.4137 will indicate that rise from 1.3747 is still in progress and should bring retest of 1.4337 high. But even in case of a break there, we'll continue to focus on reversal signal as EUR/USD meets medium term trend line resistance (now at 1.4404). |
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EURUSD Outlook |
Written by ActionForex.com |
Jun 25 09 14:32 GMT |
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As discussed before, rebound from 1.3747 has possibly completed at 1.4137. The three waves corrective structure revive the case that fall from 1.4337 is still in progress. Nevertheless, we'll stay neutral for the moment until a break of 1.3826/4137 to clear out the picture. Below 1.3826 will affirm that bearish case that EUR/USD has topped out at 1.4337 and should bring deeper decline through 1.3747 low towards channel support (now at 1.3446). On the upside, above 1.4137 will indicate that rise from 1.3747 is still in progress and should bring retest of 1.4337 high. But even in case of a break there, we'll continue to focus on reversal signal as EUR/USD meets medium term trend line resistance (now at 1.4413). |
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EURUSD Outlook |
Written by ActionForex.com |
Jun 25 09 08:53 GMT |
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EUR/USD's break of 1.3984 mild support firstly indicates that rise from 1.3826 has completed and argues that rebound from 1.3747 has finished too. That left such rebound in three waves corrective structure which revive the case that fall from 1.4337 is still in progress. Nevertheless, we'll stay neutral for the moment until a break of 1.3826/4137 to clear out the picture. Below 1.3826 will affirm that bearish case that EUR/USD has topped out at 1.4337 and should bring deeper decline through 1.3747 low towards channel support (now at 1.3446). On the upside, above 1.4137 will indicate that rise from 1.3747 is still in progress and should bring retest of 1.4337 high. But even in case of a break there, we'll continue to focus on reversal signal as EUR/USD meets medium term trend line resistance (now at 1.4413). |
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EURUSD Outlook |
Written by ActionForex.com |
Jun 24 09 13:51 GMT |
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EUR/USD retreats sharply after rebounding to as high as 1.4137 earlier today. Still, with 1.3984 minor support intact, intraday bias remains mildly on the upside. As mentioned before, the falling wedge pattern since 1.4337 argues that it's merely a correction in recent rise. Further rally could now be seen to 1.4337 and above. But after all, we'll continue to focus on reversal signal as EUR/USD meets medium term trend line resistance (now at 1.4413). On the downside, below 1.3984 will turn intraday outlook neutral first. Break of 1.3826 support will revive the bearish case that fall from 1.4337 is still in progress and will flip bias back to the downside for channel support (now at 1.3425). |
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EURUSD Outlook |
Written by ActionForex.com |
Jun 24 09 08:53 GMT |
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EUR/USD rebounds strongly to as high as 1.4137 and at this point, intraday bias remains on the upside as long as 1.3984 minor support holds. As mentioned before, the falling wedge pattern since 1.4337 argues that it's merely a correction in recent rise. Further rally could now be seen to 1.4337 and above. But after all, we'll continue to focus on reversal signal as EUR/USD meets medium term trend line resistance (now at 1.4413). On the downside, below 1.3984 will turn intraday outlook neutral first. Break of 1.3826 support will revive the bearish case that fall from 1.4337 is still in progress and will flip bias back to the downside for channel support (now at 1.3425). |
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EURUSD Outlook |
Written by ActionForex.com |
Jun 23 09 14:13 GMT |
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EUR/USD's strong rebound today and break of 1.4011 resistance dampened the immediate bearish view that it has topped out at 1.4337. Instead, the falling wedge pattern since 1.4337 argues it's merely a correction in recent rise. Intraday bias is flipped back to the upside and further rally might now be seen to 1.4337 and above. However, note that we'll continue to focus on reversal signal as EUR/USD meets medium term trend line resistance (now at 1.4413). On the downside, break of 1.3826 support will revive the bearish case that fall from 1.4337 is still in progress and will flip bias back to the downside for channel support (now at 1.3425). |
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EURUSD Outlook |
Written by ActionForex.com |
Jun 23 09 08:59 GMT |
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EUR/USD recovers well ahead of 1.3747 support and intraday bias is turned neutral for the moment. It remains to be confirmed if fall from 1.4337 is still in progress. On the downside, below 1.3747 will confirm that such decline has resumed and should then target trend line support (now at 1.3404) next. On the upside, however, above 1.4011 will flip intraday bias back to the upside and argue that fall from 1.4337 has indeed completed at 1.3747 already. The three wave structure will in turn dampen the bearish view that EUR/USD has topped out at 1.4337 and will bring another rally to extend whole rise from 1.2884. Nevertheless, in such case, we'll continue to focus on reversal signal as EUR/USD meets trend line resistance (now at 1.4413). |
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EURUSD Outlook |
Written by ActionForex.com |
Jun 22 09 14:27 GMT |
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Intraday bias in EUR/USD remains on the downside for the moment. Break of 1.3747 low will confirm that whole fall from 1.4337 has resumed and should then target trend line support (now at 1.3386) next. On the upside, however, above 1.4011 will flip intraday bias back to the upside and argue that fall from 1.4337 has indeed completed at 1.3747 already. The three wave structure will in turn dampen the bearish view that EUR/USD has topped out at 1.4337 and will bring another rally to extend whole rise from 1.2884. Nevertheless, in such case, we'll continue to focus on reversal signal as EUR/USD meets trend line resistance (now at 1.4416). |
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EURUSD Outlook |
Written by ActionForex.com |
Jun 22 09 08:50 GMT |
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With 4 hours MACD dragged below signal line, recovery from 1.3747 has possibly completed at 1.4011 already. Intraday bias is flipped to the downside for 1.3747 low first. Break will confirm that whole decline from 1.4337 has resumed and should target trend line support (now at 1.3386) next. On the upside, however, above 1.4011 will flip intraday bias back to the upside and argue that fall from 1.4337 has indeed completed at 1.3747 already. The three wave structure will in turn dampen the bearish view that EUR/USD has topped out at 1.4337 and will bring another rally to extend whole rise from 1.2884. Nevertheless, in such case, we'll continue to focus on reversal signal as EUR/USD meets trend line resistance (now at 1.4416). |
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