EUR/USD edged lower to 1.1431 initially last week but then recovered to 1.1610 before losing momentum after that. Initial bias remains neutral this week first. Another rise cannot be ruled out as long as 1.1534 minor support holds. Above 1.1610 will target 1.1814 resistance. But we’d expect upside to be limited by 1.1779/1814 resistance zone to bring down trend resumption eventually. On the downside, below 1.1534 minor support will indicate completion of rebound from 1.1431. Intraday bias will be turned back to the downside for 1.1431 and then 1.1300 low.

In the bigger picture, corrective pattern from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300 at 1.1779. Decisive break of 1.1300 will resume the down trend from 1.2555 to 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1814 will delay the bearish case and extend the correction from 1.1300 with another rise before completion.

In the long term picture, the rejection from 38.2% retracement of 1.6039 to 1.0339 at 1.2516 argues that long term down trend from 1.6039 (2008 high) might not be over yet. EUR/USD is also held below decade long trend line resistance. Firm break of 61.8% retracement of 1.0339 to 1.2555 at 1.1186 should at least bring a retest on 1.0339 low.

Daily Pivots: (S1) 1.1543; (P) 1.1571; (R1) 1.1623; More…..

A temporary top should be in place at 1.1610 and intraday bias in EUR/USD is turned neutral first. On the downside, below 1.1534 minor support will indicate completion of rebound from 1.1431. Intraday bias will be turned back to the downside for 1.1431 and then 1.1300 low. On the upside, above 1.1610 will bring another rebound. But still, we’d expect upside to be limited by 1.1779/1814 resistance zone to bring down trend resumption eventually.

In the bigger picture, corrective pattern from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300 at 1.1779. Decisive break of 1.1300 will resume the down trend from 1.2555 to 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1814 will delay the bearish case and extend the correction from 1.1300 with another rise before completion.

Daily Pivots: (S1) 1.1543; (P) 1.1571; (R1) 1.1623; More…..

Intraday bias in EUR/USD remains mildly on the upside as rebound from 1.1431 is in progress, for 55 day EMA and above. But still, we’d expect upside to be limited by 1.1779/1814 resistance zone to bring down trend resumption eventually. On the downside, below 1.1534 minor support will turn bias back to the downside. Further break of 1.1431 will bring retest of 1.1300 low.

In the bigger picture, corrective pattern from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300 at 1.1779. Decisive break of 1.1300 will resume the down trend from 1.2555 to 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1814 will delay the bearish case and extend the correction from 1.1300 with another rise before completion.

Daily Pivots: (S1) 1.1483; (P) 1.1515; (R1) 1.1550; More…..

EUR/USD edges higher to 1.1598 in early US session as rebound from 1.1431 extends. Intraday bias stays mildly on the upside for 55 day EMA (now at 1.1617) and possibly above. But we’d expect upside to be limited by 1.1779/1814 resistance zone to bring down trend resumption eventually. On the downside, below 1.1514 minor support will turn bias back to the downside. Further break of 1.1431 will bring retest of 1.1300 low.

In the bigger picture, corrective pattern from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300 at 1.1779. Decisive break of 1.1300 will resume the down trend from 1.2555 to 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1814 will delay the bearish case and extend the correction from 1.1300 with another rise before completion.

Daily Pivots: (S1) 1.1483; (P) 1.1515; (R1) 1.1550; More…..

EUR/USD’s break of 1.1549 minor resistance indicates short term bottoming at 1.1431. Intraday bias is back on the upside for further rebound, to 55 day EMA (now at 1.1617) and possibly above. But upside should be limited by 1.17799/1814 resistance zone to bring down trend resumption finally. On the downside, below 1.1431 will resume the fall from 1.1814 to retest 1.1300 low.

In the bigger picture, corrective pattern from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300 at 1.1779. Decisive break of 1.1300 will resume the down trend from 1.2555 to 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1814 will delay the bearish case and extend the correction from 1.1300 with another rise before completion.

Daily Pivots: (S1) 1.1449; (P) 1.1476; (R1) 1.1520; More…..

Intraday bias in EUR/USD remains neutral for consolidation above 1.1431. But with 1.1549 minor resistance intact, another decline is still expected. On the downside, below 1.1431 will resume the fall from 1.1814 and target 1.1300 low. Nonetheless, break of 1.1549 will indicate short term bottoming and bring stronger rebound, back to 55 day EMA (now at 1.1621).

In the bigger picture, corrective pattern from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300at 1.1779. Decisive break of 1.1300 will resume the down trend from 1.2555 to 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1814 will delay the bearish case and extend the correction from 1.1300 with another rise before completion.

Daily Pivots: (S1) 1.1449; (P) 1.1476; (R1) 1.1520; More…..

EUR/USD dipped to 1.1431 but recovered notably from there. Intraday bias is turned neutral for some more consolidations. But another decline is expected s long as 1.1549 minor resistance holds. Below 1.1431 will resume the fall from 1.1814 and target 1.1300 low. Nonetheless, break of 1.1549 will indicate short term bottoming and bring stronger rebound, back to 55 day EMA (now at 1.1621).

In the bigger picture, corrective pattern from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300at 1.1779. Decisive break of 1.1300 will resume the down trend from 1.2555 to 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1814 will delay the bearish case and extend the correction from 1.1300 with another rise before completion.

Daily Pivots: (S1) 1.1459; (P) 1.1494; (R1) 1.1529; More…..

EUR/USD’s fall from 1.1814 continues today and reaches as low as 1.1431 so far. Intraday bias remains on the downside for retesting 1.1300 low. Decisive break there will resume larger down trend from 1.2555. On the upside, break of 1.1549 resistance is needed to signal short term bottoming. Otherwise, outlook will remain mildly bearish even in case of recovery.

In the bigger picture, corrective pattern from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300at 1.1779. Decisive break of 1.1300 will resume the down trend from 1.2555 to 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1814 will delay the bearish case and extend the correction from 1.1300 with another rise before completion.

Daily Pivots: (S1) 1.1459; (P) 1.1494; (R1) 1.1529; More…..

There is no follow through selling in EUR/USD after breaching 1.1463. But still, with 1.1549 minor resistance intact, deeper fall is expected. Current decline from 1.1814 should target a test on 1.1300 low. On the upside, above 1.1549 minor resistance will now indicate short term bottoming and bring lengthier consolidation. But for now, we’d hold on to the view that correction from 1.1300 has completed at 1.1814. Thus, in that case, we’d expect upside to be limited well below 1.1814 to bring another decline to 1.1300 eventually.

In the bigger picture, corrective pattern from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300at 1.1779. Decisive break of 1.1300 will resume the down trend from 1.2555 to 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1814 will delay the bearish case and extend the correction from 1.1300 with another rise before completion.

Daily Pivots: (S1) 1.1486; (P) 1.1518; (R1) 1.1551; More…..

EUR/USD’s breach of 1.1463 suggests resumption of fall from 1.1814. Intraday bias is turned back to the downside for retesting 1.1300 low next. On the upside, above 1.1549 minor resistance will now indicate short term bottoming and bring lengthier consolidation. But for now, we’d hold on to the view that correction from 1.1300 has completed at 1.1814. Thus, we’d expect upside to be limited well below 1.1814 to bring another decline to 1.1300 eventually.

In the bigger picture, corrective pattern from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300at 1.1779. Decisive break of 1.1300 will resume the down trend from 1.2555 to 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1814 will delay the bearish case and extend the correction from 1.1300 with another rise before completion.

Daily Pivots: (S1) 1.1486; (P) 1.1518; (R1) 1.1551; More…..

Intraday bias in EUR/USD remains neutral for consolidation above 1.1463 temporary low. Stronger recovery could be seen. But upside should be limited below 1.1623 minor resistance to bring fall resumption. As noted before, rebound from 1.1300 has completed at 1.1814 already. Below 1.1463 will bring retest of 1.1300 low.

In the bigger picture, corrective pattern from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300at 1.1779. Decisive break of 1.1300 will resume the down trend from 1.2555 to 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1814 will delay the bearish case and extend the correction from 1.1300 with another rise before completion.

EUR/USD’s decline extended to as low as 1.1463 last week. As a temporary low formed, initial bias is neutral this week first. The break of 1.1525 indicates completion of rebound from 1.1300 to 1.1814, Thus, upside of recovery from 1.1463 should be limited below 1.1623 minor resistance to bring fall resumption. On the downside, below 1.1463 will target a test on 1.1300 low.

In the bigger picture, corrective pattern from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300at 1.1779. Decisive break of 1.1300 will resume the down trend from 1.2555 to 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1814 will delay the bearish case and extend the correction from 1.1300 with another rise before completion.

In the long term picture, the rejection from 38.2% retracement of 1.6039 to 1.0339 at 1.2516 argues that long term down trend from 1.6039 (2008 high) might not be over yet. EUR/USD is also held below decade long trend line resistance. Firm break of 61.8% retracement of 1.0339 to 1.2555 at 1.1186 should at least bring a retest on 1.0339 low.

Daily Pivots: (S1) 1.1470; (P) 1.1507; (R1) 1.1550; More…..

EUR/USD is staying in consolidation above 1.1463 temporary low and intraday bias remains neutral. Further recovery could be seen but upside should be limited below 1.1623 resistance to bring another decline. On the downside, break of 1.1463 will extend the fall from 1.1814 to retest 1.1300 low.

In the bigger picture, a medium term bottom should be in place at 1.1300, on bullish convergence condition in daily MACD and some consolidations would be seen. But still, note that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. That carries some long term bearish implications. Thus, we’d expect fall from 1.2555 high to resume after consolidation completes. Below 1.1300 should send EUR/USD through 61.8% retracement of 1.0339 to 1.2555 at 1.1186. And, in that case, EUR/USD would head to retest 1.0339 (2017 low).

Daily Pivots: (S1) 1.1470; (P) 1.1507; (R1) 1.1550; More…..

Intraday bias in EUR/USD remains neutral for consolidation above 1.1463 temporary low. Upside of recovery should be limited below 1.1623 resistance to bring another decline. On the downside, break of 1.1463 will extend the fall from 1.1814 to retest 1.1300 low.

In the bigger picture, a medium term bottom should be in place at 1.1300, on bullish convergence condition in daily MACD and some consolidations would be seen. But still, note that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. That carries some long term bearish implications. Thus, we’d expect fall from 1.2555 high to resume after consolidation completes. Below 1.1300 should send EUR/USD through 61.8% retracement of 1.0339 to 1.2555 at 1.1186. And, in that case, EUR/USD would head to retest 1.0339 (2017 low).

Daily Pivots: (S1) 1.1430; (P) 1.1513; (R1) 1.1562; More…..

A temporary low is formed at 1.1463 with today’s recovery and intraday bias in turned neutral first. Some consolidations could be seen but upside should be limited below 1.1623 resistance to bring another decline. On the downside, break of 1.1463 will extend the fall from 1.1814 to retest 1.1300 low.

In the bigger picture, a medium term bottom should be in place at 1.1300, on bullish convergence condition in daily MACD and some consolidations would be seen. But still, note that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. That carries some long term bearish implications. Thus, we’d expect fall from 1.2555 high to resume after consolidation completes. Below 1.1300 should send EUR/USD through 61.8% retracement of 1.0339 to 1.2555 at 1.1186. And, in that case, EUR/USD would head to retest 1.0339 (2017 low).

Daily Pivots: (S1) 1.1430; (P) 1.1513; (R1) 1.1562; More…..

EUR/USD’s fall from 1.1814 resumed after brief consolidation and hits as low as 1.1463 so far. Intraday bias is back on the downside for 1.1300 low next. On the upside, break of 1.1593 minor resistance is needed to indicate short term bottoming. Otherwise, outlook will stay cautiously bearish in case of recovery.

In the bigger picture, a medium term bottom should be in place at 1.1300, on bullish convergence condition in daily MACD and some consolidations would be seen. But still, note that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. That carries some long term bearish implications. Thus, we’d expect fall from 1.2555 high to resume after consolidation completes. Below 1.1300 should send EUR/USD through 61.8% retracement of 1.0339 to 1.2555 at 1.1186. And, in that case, EUR/USD would head to retest 1.0339 (2017 low).

Daily Pivots: (S1) 1.1507; (P) 1.1544; (R1) 1.1584; More…..

Intraday bias in EUR/USD remains neutral for consolidation above 1.1504 temporary low. Another recovery could be seen to 4 hour 55 EMA (now at 1.1637). But upside should be limited well below 1.1814 resistance to bring another decline. We maintain the view that corrective rise from 1.1300 has completed with three waves up to 1.1814 already. Below 1.1504 will target a test on 1.1300 low first.

In the bigger picture, a medium term bottom should be in place at 1.1300, on bullish convergence condition in daily MACD and some consolidations would be seen. But still, note that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. That carries some long term bearish implications. Thus, we’d expect fall from 1.2555 high to resume after consolidation completes. Below 1.1300 should send EUR/USD through 61.8% retracement of 1.0339 to 1.2555 at 1.1186. And, in that case, EUR/USD would head to retest 1.0339 (2017 low).

Daily Pivots: (S1) 1.1507; (P) 1.1544; (R1) 1.1584; More…..

EUR/USD recovers after hitting 1.1504 and formed a temporary low there. Intraday bias is turned neutral for consolidation first. Stronger recovery could be seen to 4 hour 55 EMA (now at 1.1643). But upside should be limited well below 1.1814 resistance to bring another decline. We maintain the view that corrective rise from 1.1300 has completed with three waves up to 1.1814 already. Below 1.1504 will target a test on 1.1300 low first.

In the bigger picture, a medium term bottom should be in place at 1.1300, on bullish convergence condition in daily MACD and some consolidations would be seen. But still, note that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. That carries some long term bearish implications. Thus, we’d expect fall from 1.2555 high to resume after consolidation completes. Below 1.1300 should send EUR/USD through 61.8% retracement of 1.0339 to 1.2555 at 1.1186. And, in that case, EUR/USD would head to retest 1.0339 (2017 low).

Daily Pivots: (S1) 1.1552; (P) 1.1588; (R1) 1.1616; More…..

EUR/USD reaches as low as 1.1504 so far. Break of 1.1525 support confirms that corrective rise from 1.1300 has completed with three waves up to 1.1814 already. Intraday bias stays on the downside for retesting 1.1300 low first. On the upside, above 1.1623 minor resistance will turn intraday bias neutral and bring recovery. But upside should be limited well below 1.1814 to bring fall resumption.

In the bigger picture, a medium term bottom should be in place at 1.1300, on bullish convergence condition in daily MACD and some consolidations would be seen. But still, note that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. That carries some long term bearish implications. Thus, we’d expect fall from 1.2555 high to resume after consolidation completes. Below 1.1300 should send EUR/USD through 61.8% retracement of 1.0339 to 1.2555 at 1.1186. And, in that case, EUR/USD would head to retest 1.0339 (2017 low).

Daily Pivots: (S1) 1.1552; (P) 1.1588; (R1) 1.1616; More…..

EUR/USD’s fall from 1.1814 continues today and reaches as low as 1.1553 so far. Intraday bias remains on the downside for 1.1525 support. Decisive break there will confirm that corrective rise from 1.1300 has completed at 1.1814. In such case, deeper fall should be seen back to retest 1.1300. On the upside, above 1.1650 minor resistance will turn intraday bias neutral and bring recovery. But upside should be limited well below 1.1814 to bring fall resumption.

In the bigger picture, a medium term bottom should be in place at 1.1300, on bullish convergence condition in daily MACD and some consolidations would be seen. But still, note that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. That carries some long term bearish implications. Thus, we’d expect fall from 1.2555 high to resume after consolidation completes. Below 1.1300 should send EUR/USD through 61.8% retracement of 1.0339 to 1.2555 at 1.1186. And, in that case, EUR/USD would head to retest 1.0339 (2017 low).