Thu, Oct 06, 2022 @ 11:32 GMT

EUR/USD Daily Outlook

Daily Pivots: (S1) 0.9816; (P) 0.9906; (R1) 0.9976; More

Intraday bias in EUR/USD remains neutral for the moment. On the downside, break of 0.9734 minor support will suggest rejection by 55 day EMA, and medium term falling channel. Bias will be turned back to the downside for retesting 0.9534 low and then resume down trend. Nevertheless, considering bullish convergence condition in daily MACD, sustained break of 55 day EMA (now at 1.0019) will raise the chance of medium term bottoming at 0.9534. Further rally should then be seen to 38.2% retracement of 1.1494 to 0.9534 at 1.0283.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 0.9862; (P) 0.9930; (R1) 1.0055; More

Intraday bias in EUR/USD is turned neutral first with current retreat. On the downside, break of 0.9734 minor support will suggest rejection by 55 day EMA (now at 1.0022), and medium term falling channel. Bias will be turned back to the downside for retesting 0.9534 low and then resume down trend. Nevertheless, considering bullish convergence condition in daily MACD, sustained break of 55 day EMA (now at 1.0022) will raise the chance of medium term bottoming at 0.9534. Further rally should then be seen to 38.2% retracement of 1.1494 to 0.9534 at 1.0283.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD Daily Outlook

Daily Pivots: (S1) 0.9862; (P) 0.9930; (R1) 1.0055; More

EUR/USD’s rebound from 0.9534 is still in progress and intraday bias stays on the upside. Considering bullish convergence condition in daily MACD, sustained break of 55 day EMA (now at 1.0022) will raise the chance of medium term bottoming at 0.9534. Further rally should then be seen to 38.2% retracement of 1.1494 to 0.9534 at 1.0283. On the downside, though, break of 0.9734 minor support will bring retest of 0.9534 low instead.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 0.9770; (P) 0.9808; (R1) 0.9862; More

With break of 0.9863 support turned resistance, intraday bias in EUR/USD is back on the upside for 55 day EMA (now at 1.0033). Considering bullish convergence condition in Daily MACD, sustained break there will raise the chance of medium term bottoming at 0.9534. Further rally should then be seen to 38.2% retracement of 1.1494 to 0.9534 at 1.0283. On the downside, though, break of 0.9734 minor support will bring retest of 0.9534 low instead.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD Daily Outlook

Daily Pivots: (S1) 0.9770; (P) 0.9808; (R1) 0.9862; More

Intraday bias in EUR/USD remains neutral first. On the upside, firm break of 0.9863 support turned resistance will bring stronger rise to 55 day EMA (now at 1.0033). Considering bullish convergence condition in Daily MACD, sustained break there will raise the chance of medium term bottoming at 0.9534. On the downside, though, break of 0.9734 minor support will bring retest of 0.9534 low instead.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 0.9740; (P) 0.9797; (R1) 0.9859; More

Intraday bias in EUR/USD remains neutral and outlook is unchanged. Break of 0.9634 minor support will suggest that larger down trend is ready to resume. Intraday bias will be back on the downside for 0.9534 and below. However, sustained break of 0.9863 will confirm short term bottoming, and bring stronger rally back to 1.0197 resistance instead.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD Daily Outlook

Daily Pivots: (S1) 0.9740; (P) 0.9797; (R1) 0.9859; More

Intraday bias in EUR/USD stays neutral at this point. Break of 0.9634 minor support will suggest that larger down trend is ready to resume. Intraday bias will be back on the downside for 0.9534 and below. However, sustained break of 0.9863 will confirm short term bottoming, and bring stronger rally back to 1.0197 resistance instead.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD Weekly Outlook

EUR/USD recovered after dipping to 0.9534 last week, but stays below 0.9863 support turned resistance. Initial bias remains neutral this week first. Break of 0.9634 minor support will suggest that larger down trend is ready to resume. Intraday bias will be back on the downside for 0.9534 and below. However, sustained break of 0.9863 will confirm short term bottoming, and bring stronger rally back to 1.0197 resistance instead.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

In the long term picture, long term down trend from 1.6039 (2008 high) is extending. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. This will now remain the favored case as long as 1.0635 support turned resistance holds.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 0.9694; (P) 0.9755; (R1) 0.9874; More

Intraday bias in EUR/USD remains neutral at this point, and outlook stays bearish with 0.9863 support turned resistance intact. Break of 0.9634 will suggest that larger down trend is ready to resume. Intraday bias will be back on the downside for 0.9534 and below. However, sustained break of 0.9863 will confirm short term bottoming, and bring stronger rally back to 1.0197 resistance instead.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD Daily Outlook

Daily Pivots: (S1) 0.9694; (P) 0.9755; (R1) 0.9874; More

EUR/USD’s rebound from 0.9534 extends higher but stays below 0.9863 support turned resistance. Intraday bias remains neutral and larger down trend is still expected to resume later through 0.9534. However, sustained break of 0.9863 will confirm short term bottoming, and bring stronger rally back to 1.0197 resistance instead.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 0.9600; (P) 0.9675; (R1) 0.9814; More

Intraday bias in EUR/USD stays neutral at this point. Consolidation from 0.9534 could extend. But upside should be limited by 0.9863 support turned resistance to bring fall resumption. Break of 0.9534 will resume larger down trend, and target 161.8% projection of 1.0368 to 0.9863 from 1.0197 at 0.9380 next.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD Daily Outlook

Daily Pivots: (S1) 0.9600; (P) 0.9675; (R1) 0.9814; More

Intraday bias in EUR/USD is turned neutral again with current recovery. Some consolidations could be seen but upside should be limited by 0.9863 support turned resistance to bring fall resumption. Break of 0.9534 will resume larger down trend, and target 161.8% projection of 1.0368 to 0.9863 from 1.0197 at 0.9380 next.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 0.9551; (P) 0.9610; (R1) 0.9652; More

Intraday bias in EUR/USD stays mildly on the downside despite loss of downside momentum. Current down trend should target 161.8% projection of 1.0368 to 0.9863 from 1.0197 at 0.9380 next. On the upside, above 0.9700 minor resistance will turn intraday bias neutral again first, and bring consolidations again, before staging another decline.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD Daily Outlook

Daily Pivots: (S1) 0.9551; (P) 0.9610; (R1) 0.9652; More

EUR/USD’s decline resumed after brief recovery and intraday bias is back on the downside. Current down trend should target 161.8% projection of 1.0368 to 0.9863 from 1.0197 at 0.9380 next. On the upside, above 0.9700 minor resistance will turn intraday bias neutral again first, and bring consolidations again, before staging another decline.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 0.9538; (P) 0.9624; (R1) 0.9694; More

Intraday bias in EUR/USD is turned neutral with a temporary low formed at 0.9551. Some consolidations could be seen, but upside should be limited by 0.9863 support turned resistance. Break of 0.9551 will resume larger down trend to 161.8% projection of 1.0368 to 0.9863 from 1.0197 at 0.9380 next.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD Daily Outlook

Daily Pivots: (S1) 0.9538; (P) 0.9624; (R1) 0.9694; More

EUR/USD’s decline is still in progress and intraday bias stays on the downside for the moment. Current down trend should target 161.8% projection of 1.0368 to 0.9863 from 1.0197 at 0.9380 next. On the upside, above 0.9772 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 0.9620; (P) 0.9736; (R1) 0.9804; More

Intraday bias in EUR/USD stays on the downside at this point. Current down trend should target 161.8% projection of 1.0368 to 0.9863 from 1.0197 at 0.9380 next. On the upside, above 0.9772 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

EUR/USD Daily Outlook

Daily Pivots: (S1) 0.9620; (P) 0.9736; (R1) 0.9804; More

EUR/USD’s down trend continues today and intraday bias stays on the downside. Next target is 161.8% projection of 1.0368 to 0.9863 from 1.0197 at 0.9380. On the upside, above 0.9772 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6480; (P) 0.6568; (R1) 0.6624; More…

Intraday bias in AUD/USD remains on the downside as down trend continues today. Next target is 0.6461 long term fibonacci level. Break there will target 100% projection of 0.7660 to 0.6680 from 0.7135 at 0.6155. On the upside, above 0.6669 minor resistance will turn intraday bias neutral and bring consolidations, before staging another decline.

In the bigger picture, down trend form 0.8006 (2021 high) is expected to continue as long as 0.7135 resistance holds. Next target is 61.8% retracement of 0.5506 (2020 low) to 0.8006 at 0.6461. Sustained break there will pave the way back to retest 0.5506.

EUR/USD Weekly Outlook

EUR/USD’s down trend resumed last week and met 100% projection of 1.0368 to 0.9863 from 1.0197 at 0.9692 already. Initial bias stays on the downside this week for 161.8% projection at 0.9380. On the upside, above 0.9806 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

In the long term picture, long term down trend from 1.6039 (2008 high) is extending. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. This will now remain the favored case as long as 1.0635 support turned resistance holds.