Daily Pivots: (S1) 1.1878; (P) 1.1922; (R1) 1.1979; More…..
Intraday bias in EUR/USD remains on the upside at this point. Current rise should target 61.8% projection of 1.1255 to 1.1916 from 1.1711 at 1.2119 first. Break will target 100% projection at 1.2372 next. On the downside, break of 1.1711 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.
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 1.17114 support holds.
