Thu, Jul 18, 2019 @ 04:41 GMT

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1187; (P) 1.1225; (R1) 1.1249; More

EUR/USD is staying in range of 1.1193/1285 and intraday bias remains neutral first. Break of 1.1193 will resume the fall from 1.1412 to retest 1.1107 low. On the upside, above 1.1285 resistance will turn bias back to the upside for 1.1412 resistance.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1187; (P) 1.1225; (R1) 1.1249; More

Intraday bias in EUR/USD remains neutral for now with focus on 1.1193 minor support. Break will resume the fall from 1.1412 to retest 1.1107 low. On the upside, above 1.1285 resistance will turn bias back to the upside for 1.1412 resistance.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1246; (P) 1.1265; (R1) 1.1277; More

EUR/USD drops notably today and failure to sustain above 55 day EMA dampens original bullish view. Intraday bias stays neutral but focus is back on 1.1193 minor support. Break will resume the fall from 1.1412 to retest 1.1107 low. On the upside, above 1.1285 resistance will turn bias back to the upside for 1.1412 resistance.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1246; (P) 1.1265; (R1) 1.1277; More

Intraday bias in EUR/USD remains neutral at this point but further rise remains mildly in favor. On the upside, above 1.1285 will extend the rise from 1.1193 to 1.1412 resistance next. On the downside, below 1.1193 will resume the fall from 1.1412 to retest 1.1107 low.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1248; (P) 1.1261; (R1) 1.1285; More

EUR/USD is staying in range below 1.1285 and intraday bias stays neutral first. Further rally remains mildly in favor. On the upside, above 1.1285 will extend the rise from 1.1193 to 1.1412 resistance next. On the downside, below 1.1193 will resume the fall from 1.1412 to retest 1.1107 low.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1248; (P) 1.1261; (R1) 1.1285; More

Intraday bias in EUR/USD remains neutral at this point but further rise is mildly in favor. On the upside, above 1.1285 will extend the rise from 1.1193 to 1.1412 resistance next. On the downside, below 1.1193 will resume the fall from 1.1412 to retest 1.1107 low.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

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EUR/USD Weekly Outlook

EUR/USD edged lower to 1.1193 last week but bottomed ahead of 1.1181 support and recovered. Initial bias remains neutral this week first. On the upside, above 1.1285 will extend the rise from 1.1193 to 1.1412 resistance next. On the downside, below 1.1193 will resume the fall from 1.1412 to retest 1.1107 low.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

In the long term picture, outlook remains bearish for now. EUR/USD is held below decade long trend line that started from 1.6039 (2008 high). It was also rejected by 38.2% retracement of 1.6039 to 1.0339 at 1.2516 before. A break of 1.0039 low will remain in favor as long as 55 month EMA (now at 1.1674) holds).

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1238; (P) 1.1262; (R1) 1.1279; More

Intraday bias in EUR/USD is turned neutral with 4 hour MACD crossed below signal line. A temporary top is formed at 1.1285. On the upside, above 1.1285 will extend the rebound from 1.1193 to 1.1412 resistance. Break will resume the whole choppy rise from 1.1107. On the downside, break of 1.1193 will turn bias back to the downside to retest 1.1107 low instead.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1238; (P) 1.1262; (R1) 1.1279; More

No change in EUR/USD’s outlook as rebound from 1.1193 would extend to retest 1.1412 resistance. Break will resume the whole rebound from 1.1107. On the downside, break of 1.1193 will turn bias back to the downside to retest 1.1107 low instead.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1213; (P) 1.1239; (R1) 1.1275; More

Intraday bias in EUR/USD remaps mildly on the upside for retesting 1.1412. Break will resume the whole rebound from 1.1107. On the downside, break of 1.1193 will turn bias back to the downside to retest 1.1107 low instead.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1213; (P) 1.1239; (R1) 1.1275; More

The break of 1.1268 minor resistance suggests that that fall from 1.1412 has completed at 1.1193 already, ahead of 1.1181 support. Intraday bias is turned back to the upside for retesting 1.1412 first. Break will resume the whole rebound from 1.1107. On the downside, break of 1.1193 will turn bias back to the downside to retest 1.1107 low instead.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1194; (P) 1.1207; (R1) 1.1220; More

EUR/USD’s recovery from 1.1193 temporary low extends further in US session. But upside is limited below 1.1268 minor resistance. Intraday bias stays neutral first. On the downside, firm break of 1.1181 support will confirm completion of rebound from 1.1107 at 1.1412. Further fall should then be see to retest 1.1107 low. On the upside, firm break of 1.1268 minor resistance will turn intraday bias back to the upside for 1.1412 instead.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1194; (P) 1.1207; (R1) 1.1220; More

A temporary low is in place at 1.1193 and intraday bias in EUR/USD is turned neutral first. As long as 1.1268 minor resistance holds, further decline is expected. On the downside, firm break of 1.1181 support will confirm completion of rebound from 1.1107 at 1.1412. Further fall should then be see to retest 1.1107 low. On the upside, above 1.1268 minor resistance will turn intraday bias back to the upside for 1.1412 instead.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1202; (P) 1.1219; (R1) 1.1230; More

No change in EUR/USD’s outlook and intraday bias remains on the downside. Firm break of 1.1181 support will confirm completion of rebound from 1.1107 at 1.1412. Further fall should then be see to retest 1.1107 low. On the upside, above 1.1268 minor resistance will turn intraday bias back to the upside for 1.1412 instead.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1202; (P) 1.1219; (R1) 1.1230; More

Intraday bias in EUR/USD remains mildly on the downside for 1.1181 support. Corrective recovery from 1.1107 should have completed way earlier than expected at 1.1412. Firm break of 1.1181 support will confirm this bearish case and target retest of 1.1107 low. On the upside, above 1.1287 minor resistance will turn intraday bias back to the upside for 1.1412 instead.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1193; (P) 1.1240; (R1) 1.1274; More

No change in EUR/USD’s outlook and intraday bias remains on the downside for the moment. Corrective recovery from 1.1107 should have completed way earlier than expected at 1.1412. Firm break of 1.1181 support will confirm this bearish case and target retest of 1.1107 low. On the upside, above 1.1287 minor resistance will turn intraday bias back to the upside for 1.1412 instead.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1193; (P) 1.1240; (R1) 1.1274; More

Intraday bias in EUR/USD remains on the downside at this point. Corrective recovery from 1.1107 should have completed way earlier than expected at 1.1412. Firm break of 1.1181 support will confirm this bearish case and target retest of 1.1107 low. On the upside, above 1.1287 minor resistance will turn intraday bias back to the upside for 1.1412 instead.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660

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EUR/USD Weekly Outlook

EUR/USD’s sharp fall last week argues that corrective recovery from 1.1107 has completed way earlier than expected at 1.1412. Initial bias stays on the downside this week for 1.1181 support. Firm break will confirm this case and target retest of 1.1107 low. On the upside, above 1.1287 minor resistance will turn intraday bias back to the upside for 1.1412 instead.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660

In the long term picture, outlook remains bearish for now. EUR/USD is held below decade long trend line that started from 1.6039 (2008 high). It was also rejected by 38.2% retracement of 1.6039 to 1.0339 at 1.2516 before. A break of 1.0039 low will remain in favor as long as 55 month EMA (now at 1.1658) holds).

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1274; (P) 1.1284; (R1) 1.1296; More

EUR/USD drops sharply to as low as 1.1219. Intraday bias stays on the downside for 1.1181 support. Break will confirm completion of rebound from 1.1107 at 1.1412. Retest of 1.1107 low should be seen next. Though, above 1.1310 minor resistance will turn bias back to the upside to resume the rebound from 1.1107 through 1.1412 instead.

In the bigger picture, considering bullish convergence condition in daily and weekly MACD, a medium term bottom should be in place at 1.1107 after hitting 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186. Further rise should be seen to 38.2% retracement of 1.2555 to 1.1107 at 1.1660. Reactions from there could indicate whether rebound from 1.1107 is a corrective rise or reversing medium term trend. In any case, risk will stay mildly on the upside as long as 1.1107 low remains intact.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1274; (P) 1.1284; (R1) 1.1296; More

No change in EUR/USD’s outlook. With 1.1344 minor support intact, further fall is in favor to 1.1181 support. Break will confirm completion of rebound from 1.1107 at 1.1412. Retest of 1.1107 low should be seen next. Though, above 1.1344 minor resistance will turn bias back to the upside to resume the rebound from 1.1107 through 1.1412 instead.

In the bigger picture, considering bullish convergence condition in daily and weekly MACD, a medium term bottom should be in place at 1.1107 after hitting 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186. Further rise should be seen to 38.2% retracement of 1.2555 to 1.1107 at 1.1660. Reactions from there could indicate whether rebound from 1.1107 is a corrective rise or reversing medium term trend. In any case, risk will stay mildly on the upside as long as 1.1107 low remains intact.

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