Thu, Jul 09, 2020 @ 11:41 GMT

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5456; (P) 1.5530; (R1) 1.5611; More….

A temporary top is in place at 1.5605 and intraday bias in EUR/AUD is turned neutral first. Downside of retreat should be contained above 1.5226 resistance turned support to bring another rise. Medium term rally from 1.3624 is in progress. Above 1.5605 will target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. Break will target 100% projection at 1.6551, which is close to 1.6587 key resistance.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top (2015 high) has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. We’ll hold on to this bullish view as long as 1.5226 resistance turned support holds. Firm break of 1.6587 will resume long term rise from 1.1602 (2012 low).

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5332; (P) 1.5402; (R1) 1.5525; More….

EUR/AUD’s strong break of 1.5392 resistance confirms resumption of medium term rally from 1.3624. Intraday bias stays on the upside for 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. Break will target 100% projection at 1.6551, which is close to 1.6587 key resistance. On the downside, below 1.5443 minor support will turn intraday bias neutral and bring consolidations before staging another rally.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top (2015 high) has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. We’ll hold on to this bullish view as long as 1.5226 resistance turned support holds. Firm break of 1.6587 will resume long term rise from 1.1602 (2012 low).

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5122; (P) 1.5178; (R1) 1.5277; More….

EUR/AUD’s strong rebound argues that pull back from 1.5392 could have completed at 1.5079 already. Intraday bias is turned back to the upside for 1.5392 first. Break there will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. On the downside, below 1.5196 will turn intraday bias neutral again and extend the consolidation from 1.5392. But overall, as long as 1.4949 support holds, outlook remains bullish and further rise is in favor.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5161; (P) 1.5197; (R1) 1.5258; More….

EUR/AUD is still bounded in consolidation from 1.5392 and intraday bias remains neutral at this point. As long as 1.4949 support holds, outlook remains bullish and further rise is in favor. Break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

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EUR/AUD Weekly Outlook

EUR/AUD’s consolidation from 1.5392 continued last week and was held well above 1.4949 key support. Outlook is unchanged and initial bias remains neutral first. As long as 1.4949 support holds, outlook remains bullish and further rise is in favor. Break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

In the longer term picture, the rise from 1.1602 long term bottom isn’t over yet. We’ll keep monitoring the development but there is prospect of extending the rise to 61.8% retracement of 2.1127 to 1.1602 at 1.7488 and above. However, sustained trading below 1.3671 should confirm trend reversal and target 1.1602 long term bottom again.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5093; (P) 1.5146; (R1) 1.5210; More….

EUR/AUD is staying in consolidation from 1.5392 and intraday bias remains neutral at this point. With 1.4949 support intact, outlook remains bullish and further rally is expected. On the upside, break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5067; (P) 1.5118; (R1) 1.5149; More….

No change in EUR/AUD’s outlook as consolidation from 1.5392 extends. With 1.4949 support intact, outlook remains bullish and further rally is expected. On the upside, break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5098; (P) 1.5136; (R1) 1.5193; More….

No change in EUR/AUD’s outlook as consolidation from 1.5392 extends. With 1.4949 support intact, outlook remains bullish and further rally is expected. On the upside, break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5058; (P) 1.5126; (R1) 1.516; More….

Intraday bias in EUR/AUD remains neutral as consolidation from 1.5392 continues. As long as 1.4949 support holds, outlook remains bullish. Medium term rally from 1.3624 is in favor to continue. On the upside, break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5114; (P) 1.5159; (R1) 1.5214; More….

Intraday bias in EUR/AUD remains neutral as consolidation from 1.5392 continues. As long as 1.4949 support holds, outlook remains bullish. Medium term rally from 1.3624 is in favor to continue. On the upside, break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

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EUR/AUD Weekly Outlook

EUR/AUD stayed in consolidation below 1.5392 last week and outlook is unchanged. As long as 1.4949 support holds, outlook remains bullish and further rise is in favor. Break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

In the longer term picture, the rise from 1.1602 long term bottom isn’t over yet. We’ll keep monitoring the development but there is prospect of extending the rise to 61.8% retracement of 2.1127 to 1.1602 at 1.7488 and above. However, sustained trading below 1.3671 should confirm trend reversal and target 1.1602 long term bottom again.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5081; (P) 1.5117; (R1) 1.5148; More….

EUR/AUD is staying in consolidation from 1.5392 and outlook is unchanged. As long as 1.4949 support holds, outlook remains bullish. Medium term rally from 1.3624 is in favor to continue. On the upside, break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5092; (P) 1.5158; (R1) 1.5200; More….

EUR/AUD’s correction from 1.5392 is still in progress and outlook is unchanged. As long as 1.4949 support holds, outlook remains bullish. Medium term rally from 1.3624 is in favor to continue. On the upside, break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5148; (P) 1.5190; (R1) 1.5252; More….

EUR/AUD is staying in consolidation below 1.5392 and intraday bias remains neutral at this point. Again, as long as 1.4949 support holds, outlook remains bullish. Medium term rally from 1.3624 is in favor to continue. On the upside, break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5115; (P) 1.5146; (R1) 1.5185; More….

The corrective pull back from 1.5392 is still in progress and could extend lower. But after all, with 1.4949 support intact, outlook remains bullish and medium term rally is still in favor to resume. On the upside, break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5060; (P) 1.5157; (R1) 1.5208; More….

Intraday bias in EUR/AUD remains neutral first. While the pull back from 1.5392 was steep, it’s holding well above 1.4949 support. Thus, medium term rally is still in favor to resume. On the upside, break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

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EUR/AUD Weekly Outlook

EUR/AUD broke out of medium term range and jumped to as high as 1.5319 last week. However, the cross reversed and dropped sharply since then. Initial bias is neutral this week. first. As long as 1.4949 support holds, further rally is still in favor. Break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

In the longer term picture, the rise from 1.1602 long term bottom isn’t over yet. We’ll keep monitoring the development but there is prospect of extending the rise to 61.8% retracement of 2.1127 to 1.1602 at 1.7488 and above. However, sustained trading below 1.3671 should confirm trend reversal and target 1.1602 long term bottom again.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5137; (P) 1.5265; (R1) 1.5333; More….

Intraday bias in EUR/AUD remains neutral for consolidation below 1.5392 temporary top. Overall near term outlook remains bullish as long as 1.1494 support holds. Break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. The corrective structure of the price actions from 1.5226 is affirming this view. Sustained trading above 1.5226 will target a test on 1.6587 key resistance. However, break of 1.4421 support will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

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EUR/AUD Mid-Day Outlook

Daily Pivots: (S1) 1.5174; (P) 1.5263; (R1) 1.5420; More….

Sharp fall from 1.5392 indicates temporary topping. Intraday bias in EUR/AUD is turned neutral first. Outlook will remain bullish as long as 1.1494 support holds. Break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. The corrective structure of the price actions from 1.5226 is affirming this view. Sustained trading above 1.5226 will target a test on 1.6587 key resistance. However, break of 1.4421 support will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

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EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5174; (P) 1.5263; (R1) 1.5420; More….

Intraday bias in EUR/AUD remains on the upside at this point. Medium term rise from 1.3624 should now target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. On the downside, below 1.5257 minor support will turn intraday bias neutral for consolidations. But outlook will remain cautiously bullish as long as 1.4949 support holds.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. The corrective structure of the price actions from 1.5226 is affirming this view. Sustained trading above 1.5226 will target a test on 1.6587 key resistance. However, break of 1.4421 support will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

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