Daily Pivots: (S1) 1.1723; (P) 1.1756; (R1) 1.1781; More…
Intraday bias in EUR/USD is turned neutral with current retreat. Further rise is favor as long as 1.1677 minor support holds. Firm break of 1.1829 will resume whole rally from 1.0176, and target 1.1916 projection level. However, break of 1.1677 will turn bias to the downside, and extend the corrective pattern from 1.1829 with another falling leg.
In the bigger picture, rise from 0.9534 long term bottom could be correcting the multi-decade downtrend or the start of a long term up trend. In either case, further rise should be seen to 100% projection of 0.9534 to 1.1274 from 1.0176 at 1.1916. This will remain the favored case as long as 1.1604 support holds.
