Daily Pivots: (S1) 1.7657; (P) 1.7682; (R1) 1.7726; More…

Immediate focus is on 55 D EMA (now at 1.7726) as rebound from 1.7477 extends. Sustained break there would argue that fall from 1.8160 has completed, and bring stronger rise back to 1.7976 resistance next. Rejection by 55 D EMA will keep near term outlook bearish. Below 1.7477 will target 1.7245 support and possibly below. Overall, price actions from 1.8554 are seen as a corrective pattern that would still extend.

In the bigger picture, as long as 55 W EMA (now at 1.7465) holds, price actions from 1.8554 could still be a correction to rise from 1.5963 only. However, sustained break of the EMA will argue that it’s already correcting the whole up trend from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922.

Daily Pivots: (S1) 1.7584; (P) 1.7636; (R1) 1.7701; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the downside, below 1.7477 will extend the decline from 1.8160 to 100% projection of 1.8160 to 1.7561 from 1.7976 at 1.7377. Firm break there will pave the way to 138.2% projection at 17148. However, sustained break of 55 D EMA (now at 1.7728) will bring stronger rebound back to 1.7976 resistance.

In the bigger picture, as long as 55 W EMA (now at 1.7465) holds, price actions from 1.8554 could still be a correction to rise from 1.5963 only. However, sustained break of the EMA will argue that it’s already correcting the whole up trend from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922.

EUR/AUD’s edged lower to 1.7477 last week but recovered since then. Initial bias remains neutral this week first. On the downside, below 1.7477 will extend the decline to 100% projection of 1.8160 to 1.7561 from 1.7976 at 1.7377. Firm break there will pave the way to 138.2% projection at 17148. However, sustained break of 55 D EMA (now at 1.7728) will bring stronger rebound back to 1.7976 resistance.

In the bigger picture, as long as 55 W EMA (now at 1.7452) holds, price actions from 1.8554 could still be a correction to rise from 1.5963 only. However, sustained break of the EMA will argue that it’s already correcting the whole up trend from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922.

In the longer term picture, rise from 1.4281 is seen as the second leg of the pattern from 1.9799 (2020 high), which is part of the pattern from 2.1127 (2008 high). As long as 55 M EMA (now at 1.6583) holds, this second leg could still extend higher.

Daily Pivots: (S1) 1.7528; (P) 1.7585; (R1) 1.7671; More…

Intraday bias in EUR/AUD remains neutral as consolidations continue above 1.7477 temporary low. Outlook is unchanged that fall from 1.8160 is seen as the third leg of the pattern from 1.8554. Below 1.7477 will target 100% projection of 1.8160 to 1.7561 from 1.7976 at 1.7377. This will remain the favored case as long as 55 D EMA (now at 1.7726) holds.

In the bigger picture, as long as 55 W EMA (now at 1.7456) holds, price actions from 1.8554 could still be a correction to rise from 1.5963 only. However, sustained break of the EMA will argue that it’s already correcting the whole up trend from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922.

Daily Pivots: (S1) 1.7486; (P) 1.7525; (R1) 1.7557; More…

Intraday bias in EUR/AUD is turned neutral with current recovery, and some consolidations could be seen first. Outlook is unchanged that fall from 1.8160 is seen as the third leg of the pattern from 1.8554. Below 1.7477 will target 100% projection of 1.8160 to 1.7561 from 1.7976 at 1.7377. This will remain the favored case as long as 55 D EMA (now at 1.7731) holds.

In the bigger picture, as long as 55 W EMA (now at 1.7456) holds, price actions from 1.8554 could still be a correction to rise from 1.5963 only. However, sustained break of the EMA will argue that it’s already correcting the whole up trend from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922.

Daily Pivots: (S1) 1.7499; (P) 1.7565; (R1) 1.7599; More…

Intraday bias in EUR/AUD remains mildly on the downside for the moment. Fall from 1.8160 is seen as the third leg of the pattern from 1.8554. Deeper decline should be seen to 100% projection of 1.8160 to 1.7561 from 1.7976 at 1.7377. Firm break there will pave the way to 138.2% projection at 17148. On the upside, above 1.7627 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, as long as 55 W EMA (now at 1.7456) holds, price actions from 1.8554 could still be a correction to rise from 1.5963 only. However, sustained break of the EMA will argue that it’s already correcting the whole up trend from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922.

Daily Pivots: (S1) 1.7499; (P) 1.7565; (R1) 1.7599; More…

No change in EUR/AUD”s outlook and intraday bias stays on the downside. Fall from 1.8160 is seen as the third leg of the pattern from 1.8554. Deeper decline should be seen to 100% projection of 1.8160 to 1.7561 from 1.7976 at 1.7377. Firm break there will pave the way to 138.2% projection at 17148. On the upside, above 1.7627 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, as long as 55 W EMA (now at 1.7456) holds, price actions from 1.8554 could still be a correction to rise from 1.5963 only. However, sustained break of the EMA will argue that it’s already correcting the whole up trend from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922.

Daily Pivots: (S1) 1.7499; (P) 1.7565; (R1) 1.7599; More…

Intraday bias in EUR/AUD remains on the downside at this point. Fall from 1.8160 is seen as the third leg of the pattern from 1.8554. Deeper decline should be seen to 100% projection of 1.8160 to 1.7561 from 1.7976 at 1.7377. Firm break there will pave the way to 138.2% projection at 17148. On the upside, above 1.7627 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, as long as 55 W EMA (now at 1.7456) holds, price actions from 1.8554 could still be a correction to rise from 1.5963 only. However, sustained break of the EMA will argue that it’s already correcting the whole up trend from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922.

EUR/AUD’s steep decline and solid break of 1.7561 support confirms resumption of fall from 1.8160. More importantly the whole pattern from 1.8554 should now be in its third leg. Initial bias stays on the downside this week for 100% projection of 1.8160 to 1.7561 from 1.7976 at 1.7377. Firm break there will pave the way to 138.2% projection at 17148. On the upside, above 1.7627 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, as long as 55 W EMA (now at 1.7449) holds, price actions from 1.8554 could still be a correction to rise from 1.5963 only. However, sustained break of the EMA will argue that it’s already correcting the whole up trend from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922.

In the longer term picture, rise from 1.4281 is seen as the second leg of the pattern from 1.9799 (2020 high), which is part of the pattern from 2.1127 (2008 high). As long as 55 M EMA (now at 1.6579) holds, this second leg could still extend higher.

Daily Pivots: (S1) 1.7577; (P) 1.7643; (R1) 1.7681; More…

Intraday bias in EUR/AUD remains on the downside for 1.7561 support. Firm break there should confirm that larger corrective pattern from 1.8554 is already in the third leg. Deeper decline should then be seen to 1.7245 support next. For now, risk will stay on the downside as long as 1.7761 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern. Sustained break of 55 W EMA (now at 1.7426) will suggest that it’s correcting the whole rally from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922. Nevertheless, strong rebound from 55 W EMA will likely bring resumption of the up trend sooner.

Daily Pivots: (S1) 1.7647; (P) 1.7699; (R1) 1.7731; More…

EUR/AUD’s fall from 1.7976 is in progress today and intraday bias stays on the downside for 1.7561 support. Firm break there should confirm that larger corrective pattern from 1.8554 is already in the third leg. Deeper decline should then be seen to 1.7245 support next. For now, risk will stay on the downside as long as 1.7794 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern. Sustained break of 55 W EMA (now at 1.7426) will suggest that it’s correcting the whole rally from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922. Nevertheless, strong rebound from 55 W EMA will likely bring resumption of the up trend sooner.

Daily Pivots: (S1) 1.7660; (P) 1.7711; (R1) 1.7757; More…

Intraday bias in EUR/AUD remains mildly on the downside for 1.7627 support. Firm break there will argue that decline from 0.8160 is ready to resume through 1.7561 support next. On the upside, above 1.7794 minor resistance will turn intraday bias neutral again first.

In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern. Sustained break of 55 W EMA (now at 1.7426) will suggest that it’s correcting the whole rally from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922. Nevertheless, strong rebound from 55 W EMA will likely bring resumption of the up trend sooner.

Daily Pivots: (S1) 1.7709; (P) 1.7737; (R1) 1.7768; More…

For now, further fall remains in favor in EUR/AUD for 1.7627 support. Firm break there will argue that decline from 0.8160 is ready to resume through 1.7561 support next. On the upside, above 1.7794 minor resistance will turn intraday bias neutral again first.

In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern. Sustained break of 55 W EMA (now at 1.7426) will suggest that it’s correcting the whole rally from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922. Nevertheless, strong rebound from 55 W EMA will likely bring resumption of the up trend sooner.

Daily Pivots: (S1) 1.7677; (P) 1.7719; (R1) 1.7749; More…

Intraday bias in EUR/AUD remains mildly on the downside at this point. Rebound from 1.7561 could have completed as a corrective move at 1.7976. Break of 1.7627 support will bring retest of 1.7561. On the upside, above 1.7794 minor resistance will turn bias neutral first. But risk will stay on the downside as long as 1.7976 holds, in case of recovery.

In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern. Sustained break of 55 W EMA (now at 1.7426) will suggest that it’s correcting the whole rally from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922. Nevertheless, strong rebound from 55 W EMA will likely bring resumption of the up trend sooner.

Daily Pivots: (S1) 1.7725; (P) 1.7760; (R1) 1.7781; More…

EUR/AUD’s break of 1.7739 supports suggests that rebound from 1.7561 has completed as a corrective move at 1.7976. Intraday bias is back on the downside for retesting 1.7561. For now, risk will stay on the downside as long as 1.7976 holds, in case of recovery.

In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern. Sustained break of 55 W EMA (now at 1.7426) will suggest that it’s correcting the whole rally from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922. Nevertheless, strong rebound from 55 W EMA will likely bring resumption of the up trend sooner.

Daily Pivots: (S1) 1.7750; (P) 1.7823; (R1) 1.7864; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the downside, firm break of 1.7739 support will argue that rebound from 1.7561 has completed, and turn bias back to the downside for this support. On the upside, above 0.7976 will resume the rebound towards 0.8160 resistance.

In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern. Sustained break of 55 W EMA (now at 1.7426) will suggest that it’s correcting the whole rally from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922. Nevertheless, strong rebound from 55 W EMA will likely bring resumption of the up trend sooner.

Daily Pivots: (S1) 1.7805; (P) 1.7891; (R1) 1.7971; More…

EUR/AUD edged higher to 1.7976 but retreated quickly again. Intraday bias remains neutral. On the upside, above 1.7976 will resume the rebound from 1.7561 towards 0.8160 resistance. On the downside, however, break of 1.7739 support will argue that the rebound has completed and turn bias back to the downside for 1.7561.

In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern. Sustained break of 55 W EMA (now at 1.7426) will suggest that it’s correcting the whole rally from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922. Nevertheless, strong rebound from 55 W EMA will likely bring resumption of the up trend sooner.

Daily Pivots: (S1) 1.7782; (P) 1.7845; (R1) 1.7889; More…

Intraday bias in EUR/AUD stays neutral as sideway trading continues. On the upside, above 1.7934 will resume the rebound from 1.7561 towards 0.8160 resistance. On the downside, however, break of 1.7739 support will argue that the rebound has completed and turn bias back to the downside for 1.756.

In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern. Sustained break of 55 W EMA (now at 1.7426) will suggest that it’s correcting the whole rally from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922. Nevertheless, strong rebound from 55 W EMA will likely bring resumption of the up trend sooner.

Daily Pivots: (S1) 1.7784; (P) 1.7859; (R1) 1.7910; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the upside, above 1.7934 will resume the rebound from 1.7561 towards 0.8160 resistance. On the downside, however, break of 1.7739 support will argue that the rebound has completed and turn bias back to the downside for 1.756.

In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern. Sustained break of 55 W EMA (now at 1.7426) will suggest that it’s correcting the whole rally from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922. Nevertheless, strong rebound from 55 W EMA will likely bring resumption of the up trend sooner.

EUR/JPY gyrated higher last week but lost momentum again after hitting 1.7934. Initial bias remains neutral this week first. On the upside, above 1.7934 will resume the rebound from 1.7561 towards 0.8160 resistance. On the downside, however, break of 1.7739 support will argue that the rebound has completed and turn bias back to the downside for 1.756.

In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern. Sustained break of 55 W EMA (now at 1.7440) will suggest that it’s correcting the whole rally from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922. Nevertheless, strong rebound from 55 W EMA will likely bring resumption of the up trend sooner.

In the longer term picture, rise from 1.4281 is seen as the second leg of the pattern from 1.9799 (2020 high), which is part of the pattern from 2.1127 (2008 high). As long as 55 M EMA (now at 1.6548) holds, this second leg could still extend higher.