Tue, Mar 31, 2020 @ 23:16 GMT

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0987; (P) 1.1065; (R1) 1.1121; More

EUR/USD’s break of 1.0953 minor support suggests that corrective recovery from 1.0635 has completed. Intraday bias is turned back to the downside for retesting this low first. On the upside, however, decisive break of 61.8% retracement of 1.1496 to 1.0635 at 1.1167 will raise the chance of larger trend reversal and turn focus to 1.1496 key resistance.

In the bigger picture, as long as 1.1496 resistance holds, whole down trend from 1.2555 (2018 high) should still be in progress. Next target is 1.0339 (2017 low). However, sustained break of 1.1496 will argue that such down trend has completed. Rise from 1.0635 could then be seen as the third leg of the pattern from 1.0339. In this case, outlook will be turned bullish for retesting 1.2555.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0987; (P) 1.1065; (R1) 1.1121; More

Intraday bias in EUR/USD stays neutral at this point. On the upside, decisive break of 61.8% retracement of 1.1496 to 1.0635 at 1.1167 will raise the chance of larger trend reversal and turn focus to 1.1496 key resistance. On the downside, break of 1.0953 minor support will turn bias back to the downside for retesting 1.0635 low instead.

In the bigger picture, as long as 1.1496 resistance holds, whole down trend from 1.2555 (2018 high) should still be in progress. Next target is 1.0339 (2017 low). However, sustained break of 1.1496 will argue that such down trend has completed. Rise from 1.0635 could then be seen as the third leg of the pattern from 1.0339. In this case, outlook will be turned bullish for retesting 1.2555.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1016; (P) 1.1082; (R1) 1.1209; More

Intraday bias in EUR/USD is turned neutral with 4 hour MACD crossed below signal line. On the upside, decisive break of 61.8% retracement of 1.1496 to 1.0635 at 1.1167 will raise the chance of larger trend reversal and turn focus to 1.1496 key resistance. On the downside, break of 1.0953 minor support will turn bias back to the downside for retesting 1.0635 low instead.

In the bigger picture, as long as 1.1496 resistance holds, whole down trend from 1.2555 (2018 high) should still be in progress. Next target is 1.0339 (2017 low). However, sustained break of 1.1496 will argue that such down trend has completed. Rise from 1.0635 could then be seen as the third leg of the pattern from 1.0339. In this case, outlook will be turned bullish for retesting 1.2555.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1016; (P) 1.1082; (R1) 1.1209; More

Intraday bias in EUR/USD remains on the upside as rebound from 1.0635 is in progress. Decisive break of 61.8% retracement of 1.1496 to 1.0635 at 1.1167 will raise the chance of larger trend reversal and turn focus to 1.1496 key resistance. On the downside, break of 1.0953 minor support will turn bias back to the downside for retesting 1.0635 low instead.

In the bigger picture, as long as 1.1496 resistance holds, whole down trend from 1.2555 (2018 high) should still be in progress. Next target is 1.0339 (2017 low). However, sustained break of 1.1496 will argue that such down trend has completed. Rise from 1.0635 could then be seen as the third leg of the pattern from 1.0339. In this case, outlook will be turned bullish for retesting 1.2555.

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EUR/USD Weekly Outlook

EUR/USD staged a strong rebound last week and hit as high as 1.1147. Initial bias stays on the upside this week with focus on 61.8% retracement of 1.1496 to 1.0635 at 1.1167. Sustained break there will raise the chance of larger trend reversal and turn focus to 1.1496 key resistance. On the downside,break of 1.0953 minor support will turn bias back to the downside for retesting 1.0635 low instead.

In the bigger picture, as long as 1.1496 resistance holds, whole down trend from 1.2555 (2018 high) should still be in progress. Next target is 1.0339 (2017 low). However, sustained break of 1.1496 will argue that such down trend has completed. Rise from 1.0635 could then be seen as the third leg of the pattern from 1.0339. In this case, outlook will be turned bullish for retesting 1.2555.

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. On break of 1.0339, next target will be 100% projection of 1.3993 to 1.0339 from 1.2555 at 0.8901.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0918; (P) 1.0988; (R1) 1.1106; More

With 1.0888 minor support intact, further rise is in favor in EUR/USD to 61.8 retracement of 1.1496 to 1.0635 at 1.1167 next. Considering bullish convergence condition in daily MACD, sustained break of 1.1167 will raise the chance of larger reversal and turn focus to 1.1496 key resistance. On the downside, break of 1.0888 will argue that the rebound has completed and turn bias back to the downside for retesting 1.0635 low.

In the bigger picture, whole down trend form 1.2555 (2018 high) should have resumed. Next target is 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. This level is close to 1.0339 (2017 low). On the upside, break of 1.1496 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain bearish even in case of strong rebound.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0918; (P) 1.0988; (R1) 1.1106; More

EUR/USD’s rebound from 1.0635 was stronger than expected and broke 1.0981 minor resistance. Further rise will now be in favor as long as 1.0888 minor support holds, for 61.8 retracement of 1.1496 to 1.0635 at 1.1167 next. Considering bullish convergence condition in daily MACD, sustained break of 1.1167 will raise the chance of larger reversal and turn focus to 1.1496 key resistance. On the downside, break of 1.0888 will argue that the rebound has completed and turn bias back to the downside for retesting 1.0635 low.

In the bigger picture, whole down trend form 1.2555 (2018 high) should have resumed. Next target is 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. This level is close to 1.0339 (2017 low). On the upside, break of 1.1496 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain bearish even in case of strong rebound.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0799; (P) 1.0847; (R1) 1.0932; More

EUR/USD’s rebound from 1.0635 extends higher today and focus in now immediately on 1.0981 resistance. Sustained break there will dampen immediate bearishness. Stronger rebound would then be seen back towards 1.1496 key resistance. Nevertheless, rejection by 1.0981 will retain near term bearishness. Break of 1.0785 will bring retest of 1.0635 low first.

In the bigger picture, whole down trend form 1.2555 (2018 high) should have resumed. Next target is 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. This level is close to 1.0339 (2017 low). On the upside, break of 1.1496 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain bearish even in case of strong rebound.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0799; (P) 1.0847; (R1) 1.0932; More

No change in EUR/USD’s outlook as consolidation from 1.0635 is extending. Upside should be limited by 1.0981 resistance to bring fall resumption. On the downside, break of 1.0635 will extend larger down trend for 1.0397 projection target next. However, sustained break of 1.0981 will indicate stronger rebound is underway back towards 1.1496 key resistance.

In the bigger picture, whole down trend form 1.2555 (2018 high) should have resumed. Next target is 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. This level is close to 1.0339 (2017 low). On the upside, break of 1.1496 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain bearish even in case of strong rebound.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0717; (P) 1.0803; (R1) 1.0882; More

Intraday bias in EUR/USD remains neutral as consolidation from 1.0635 is extending. Further rise cannot be ruled out but upside should be limited by 1.0981 resistance to bring fall resumption. On the downside, break of 1.0635 will extend larger down trend for 1.0397 projection target next. However, sustained break of 1.0981 will indicate stronger rebound is underway back towards 1.1496 key resistance.

In the bigger picture, whole down trend form 1.2555 (2018 high) should have resumed. Next target is 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. This level is close to 1.0339 (2017 low). On the upside, break of 1.1496 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain bearish even in case of strong rebound.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0717; (P) 1.0803; (R1) 1.0882; More

EUR/USD is staying in consolidation from 1.0635 and intraday bias remains neutral. Further rise cannot be ruled out but upside should be limited by 1.0981 resistance to bring fall resumption. On the downside, break of 1.0635 will extend larger down trend for 1.0397 projection target next. However, sustained break of 1.0981 will indicate stronger rebound is underway back towards 1.1496 key resistance.

In the bigger picture, whole down trend form 1.2555 (2018 high) should have resumed. Next target is 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. This level is close to 1.0339 (2017 low). On the upside, break of 1.1496 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain bearish even in case of strong rebound.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0632; (P) 1.0730; (R1) 1.0824; More

Intraday bias in EUR/USD remains neutral for the moment as consolidation from 1.0635 is extending. Further rise cannot be ruled out but upside should be limited by 1.0981 resistance to bring fall resumption. On the downside, break of 1.0635 will extend larger down trend for 1.0397 projection target next. However, sustained break of 1.0981 will indicate stronger rebound is underway back towards 1.1496 key resistance.

In the bigger picture, whole down trend form 1.2555 (2018 high) should have resumed. Next target is 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. This level is close to 1.0339 (2017 low). On the upside, break of 1.1496 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain bearish even in case of strong rebound.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0632; (P) 1.0730; (R1) 1.0824; More

EUR/USD recovers mildly as consolidation from 1.0635 temporary low extends. Further rise cannot be ruled out but upside should be limited by 1.0981 resistance to bring fall resumption. On the downside, break of 1.0635 will extend larger down trend for 1.0397 projection target next. However, sustained break of 1.0981 will indicate stronger rebound is underway back towards 1.1496 key resistance.

In the bigger picture, whole down trend form 1.2555 (2018 high) should have resumed. Next target is 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. This level is close to 1.0339 (2017 low). On the upside, break of 1.1496 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain bearish even in case of strong rebound.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0612; (P) 1.0722; (R1) 1.0805; More

Intraday bias in EUR/USD remains neutral for consolidation above 1.0635 temporary low. Stronger recovery cannot be ruled out but upside should be limited by 1.0981 resistance to bring fall resumption. on the downside, break of 1.0635 will extend larger down trend for 1.0397 projection target next.

In the bigger picture, whole down trend form 1.2555 (2018 high) should have resumed. Next target is 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. This level is close to 1.0339 (2017 low). On the upside, break of 1.1496 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain bearish even in case of strong rebound.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0612; (P) 1.0722; (R1) 1.0805; More

A temporary low is formed at 1.0635 with 4 hour MACD crossed above signal line. Intraday bias in EUR/USD is turned neutral for consolidations first. Upside of recovery should be limited by 1.0981 resistance to bring fall resumption. on the downside, break of 1.0635 will extend larger down trend for 1.0397 projection target next.

In the bigger picture, whole down trend form 1.2555 (2018 high) should have resumed. Next target is 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. This level is close to 1.0339 (2017 low). On the upside, break of 1.1496 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain bearish even in case of strong rebound.

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EUR/USD Weekly Outlook

EUR/USD dropped sharply week and broke 1.0777 support to close at 1.0692. The development suggests larger down trend resumption. Initial bias stays on the downside this week for 1.0397 projection target next. On the upside, break of 1.0981 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, whole down trend form 1.2555 (2018 high) should have resumed. Next target is 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. This level is close to 1.0339 (2017 low). On the upside, break of 1.1496 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain bearish even in case of strong rebound.

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. On break of 1.0339, next target will be 100% projection of 1.3993 to 1.0339 from 1.2555 at 0.8901.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0568; (P) 1.0774; (R1) 1.0894; More

Intraday bias in EUR/USD stays on the downside at this point. Prior break of 1.0777 low suggests that medium term down trend might be resuming. Sustained trading below 1.0777 will pave the way to 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. On the upside, though, break of 1.1045 resistance will indicate short term bottoming and turn bias to the upside for rebound.

In the bigger picture, rebound from 1.0777 low faced heavy rejection from 38.2% retracement of 1.2555 to 1.0777 at 1.1456, as well as 55 month EMA. The development argues that price actions from 1.0777 medium term pattern were just correcting the down trend from 1.2555 (2018 high). Further decline is in favor to retest 1.0339 (2017 low). Nevertheless, sustained break of 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0568; (P) 1.0774; (R1) 1.0894; More

Intraday bias in EUR/USD remains on the downside at this point. Prior break of 1.0777 low suggests that medium term down trend might be resuming. Sustained trading below 1.0777 will pave the way to 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. On the upside, though, break of 1.1045 resistance will indicate short term bottoming and turn bias to the upside for rebound.

In the bigger picture, rebound from 1.0777 low faced heavy rejection from 38.2% retracement of 1.2555 to 1.0777 at 1.1456, as well as 55 month EMA. The development argues that price actions from 1.0777 medium term pattern were just correcting the down trend from 1.2555 (2018 high). Further decline is in favor to retest 1.0339 (2017 low). Nevertheless, sustained break of 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0957; (P) 1.1001; (R1) 1.1024; More

EUR/USD drops to as low as 1.0725 today and break of 1.0777 low argues that medium term down trend might be resuming. Intraday bias stays on the downside for now. Sustained trading below 1.0777 will pave the way to 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. ON the upside, though, break of 1.1045 resistance will indicate short term bottoming and turn bias to the upside for rebound.

In the bigger picture, rebound from 1.0777 low faced heavy rejection from 38.2% retracement of 1.2555 to 1.0777 at 1.1456, as well as 55 month EMA. The development argues that price actions from 1.0777 medium term pattern were just correcting the down trend from 1.2555 (2018 high). Further decline is in favor to retest 1.0339 (2017 low). Nevertheless, sustained break of 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0957; (P) 1.1001; (R1) 1.1024; More

Intraday bias in EUR/USD remains on the downside for retesting 1.0777 low. At this point, there is no clear sign of downside breakout yet. Corrective pattern from 1.0777 could still extend for a while. Break of 1.1045 will turn bias to the upside for recovery. However, sustained break of 1.0777 will confirm larger down trend resumption.

In the bigger picture, rebound from 1.0777 low faced heavy rejection from 38.2% retracement of 1.2555 to 1.0777 at 1.1456, as well as 55 month EMA. The development argues that price actions from 1.0777 medium term pattern are just corrective the down trend from 1.2555 (2018 high). Further decline is in favor to retest 1.0339 (2017 low). Nevertheless, sustained break of 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876.

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