Mon, Nov 18, 2019 @ 07:01 GMT

EUR/USD Weekly Outlook

EUR/USD edged lower to 1.0989 last week but recovered since then. Initial bias remains neutral this week for consolidations first. Further decline is expected as long as 1.1073 resistance holds. Corrective rebound from 1.0879 should have completed at 1.1175. Below 1.0989 will turn bias to the downside for retesting 1.0879 low. However, break of 1.1073 will dampen this bearish view and turn bias to the upside for 1.1175.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. in case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

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. A break of 1.0039 low will remain in favor as long as 55 month EMA (now at 1.1568) holds.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0998; (P) 1.1012; (R1) 1.1036; More

Intraday bias in EUR/USD remains neutral for consolidation above 1.0989 temporary low. But further decline will remain in favor as long as 1.1073 resistance holds. Corrective rebound from 1.0879 should have completed at 1.1175 already. Below 1.0989 will extend the fall from 1.1173 to retest 1.0879 low. Break will resume larger down trend from 1.2555. On the upside, above 1.1073 minor resistance will turn bias back to the upside for 1.1175 resistance.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. in case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0998; (P) 1.1012; (R1) 1.1036; More

A temporary low is formed at 1.0989 in EUR/USD and intraday bias is turned neutral first. Further decline will remain in favor as long as 1.1073 resistance holds. Corrective rebound from 1.0879 should have completed at 1.1175 already. Below 1.0989 will extend the fall from 1.1173 to retest 1.0879 low. Break will resume larger down trend from 1.2555. On the upside, above 1.1073 minor resistance will turn bias back to the upside for 1.1175 resistance.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. in case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0995; (P) 1.1007; (R1) 1.1020; More

Intraday bias in EUR/USD remains on the downside with 1.1043 minor resistance intact. Corrective rebound from 1.0879 should have completed at 1.1175 already. Deeper decline would be seen to retest 1.0879 low. Break will resume larger down trend from 1.2555. On the upside, above 1.1043 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.1175 resistance holds.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. in case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0995; (P) 1.1007; (R1) 1.1020; More

Intraday bias in EUR/USD remains on the downside with 1.1043 minor resistance intact. Corrective rebound from 1.0879 should have completed at 1.1175 already. Deeper decline would be seen to retest 1.0879 low. Break will resume larger down trend from 1.2555. On the upside, above 1.1043 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.1175 resistance holds.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. in case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0995; (P) 1.1017; (R1) 1.1031; More

Intraday bias stays on the downside with 1.1043 minor resistance intact. Corrective rebound from 1.0879 should have completed at 1.1175 already. Deeper decline would be seen to retest 1.0879 low. Break will resume larger down trend from 1.2555. On the upside, above 1.1043 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.1175 resistance holds.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. in case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0995; (P) 1.1017; (R1) 1.1031; More

Intraday bias in EUR/USD remains mildly on the downside despite diminishing downside momentum. As noted before, corrective rebound from 1.0879 should have completed at 1.1175 already. Deeper decline would be seen to retest 1.0879 low. Break will resume larger down trend from 1.2555. On the upside, above 1.1043 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.1175 resistance holds.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. in case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1019; (P) 1.1031; (R1) 1.1045; More

EUR/USD’s fall from 1.1175 is still in progress despite diminishing downside momentum. As noted before, corrective rebound from 1.0879 should have completed at 1.1175 already. Deeper decline would be seen to retest 1.0879 low. Break will resume larger down trend from 1.2555. On the upside, above 1.1043 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.1175 resistance holds.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. in case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1019; (P) 1.1031; (R1) 1.1045; More

EUR/USD is losing some downside momentum. But intraday bias stays on the downside for further fall for now. Corrective rebound from 1.0879 should have completed at 1.1175 already. Deeper decline would be seen to retest 1.0879 low. Break will resume larger down trend from 1.2555. On the upside, though, above 1.1092 minor resistance will turn intraday bias neutral first.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. in case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1006; (P) 1.1031; (R1) 1.1044; More

Intraday bias in EUR/USD remains mildly on the downside at this point. Corrective rebound from 1.0879 should have completed at 1.1175 already. Deeper decline would be seen to retest 1.0879 low. Break will resume larger down trend from 1.2555. On the upside, though, above 1.1092 minor resistance will turn intraday bias neutral first.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. in case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Weekly Outlook

EUR/USD’s decline last week suggests that corrective rebound from 1.0879 has completed at 1.1175. Initial bias stays on the downside this week for retesting 1.0879 first. Break will resume larger down trend from 1.2555. On the upside, though, above 1.1092 minor resistance will turn intraday bias neutral first.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. in case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

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. A break of 1.0039 low will remain in favor as long as 55 month EMA (now at 1.1587) holds.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1027; (P) 1.1059; (R1) 1.1083; More

EUR/USD’s fall continues today and intraday bias stays on the downside. Corrective rebound from 1.0879 should have completed at 1.1179. Deeper fall would be seen back to 1.0879 low. On the upside, though, above 1.1092 minor resistance will turn intraday bias neutral first. Further break of 1.1179 will resume the rise to 1.1412 key resistance next.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. Hence, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1027; (P) 1.1059; (R1) 1.1083; More

Intraday bias in EUR/USD remains mildly on the downside at this point. Corrective rebound from 1.0879 should have completed at 1.1179. Deeper fall would be seen back to 1.0879 low. On the upside, though, above 1.1092 minor resistance will turn intraday bias neutral first. Further break of 1.1179 will resume the rise to 1.1412 key resistance next.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. Hence, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1057; (P) 1.1075; (R1) 1.1085; More

With 1.1092 minor resistance intact, intraday bias in EUR/USD remains mildly on the downside. Corrective rebound from 1.0879 should have completed at 1.1179. Deeper fall would be seen back to 1.0879 low. On the upside, though, above 1.1092 minor resistance will turn intraday bias neutral first. Further break of 1.1179 will resume the rise to 1.1412 key resistance next.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. Hence, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1057; (P) 1.1075; (R1) 1.1085; More

Break of 1.1062 support suggests completion of corrective rebound from 1.0879. Intraday bias in EUR/USD is turned back to the downside for retesting 1.0879 low next. On the upside, though, above 1.1092 minor resistance will turn intraday bias neutral first. Further break of 1.1179 will resume the rise to 1.1412 key resistance next.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. Hence, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1045; (P) 1.1093; (R1) 1.1121; More

Focus remains on 1.1062 support in EUR/USD. Break there will suggest completion of whole rebound from 1.0879. Intraday bias will be turned back to the downside for retesting this low. On the upside, break of 1.1179 will resume the rise to 1.1412 key resistance next.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. Hence, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1045; (P) 1.1093; (R1) 1.1121; More

Focus is EUR/USD is now back on 1.1062 support. Break there will suggest completion of whole rebound from 1.0879. Intraday bias will be turned back to the downside for retesting this low. On the upside, break of 1.1179 will resume the rise to 1.1412 key resistance next.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. Hence, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1111; (P) 1.1143; (R1) 1.1161; More

EUR/USD drops notably today but stays above 1.1062 support. Intraday bias remains neutral first. Further rise is mildly in favor as long as 1.1062 support holds. On the upside, break of 1.1179 will resume the rebound from 1.0879 to 1.1412 key resistance. However, break of 1.1062 will argue that rebound from 1.0879 has completed. Intraday bias will be turned back to the downside for retesting 1.0879.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. Hence, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1111; (P) 1.1143; (R1) 1.1161; More

Intraday bias in EUR/USD remains neutral as consolidation from 1.1179 is extending. With 1.1062 minor support intact, further rise is expected in the pair. On the upside break of 1.1179 will resume the rebound from 1.0879 to 1.1412 key resistance. However, break of 1.1062 will argue that rebound from 1.0879 has completed. Intraday bias will be turned back to the downside for retesting 1.0879.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. Hence, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1139; (P) 1.1155; (R1) 1.1183; More

EUR/USD is staying in consolidation from 1.1179 and intraday bias remains neutral first. With 1.1062 minor support intact, further rise is expected in the pair. On the upside break of 1.1179 will resume the rebound from 1.0879 to 1.1412 key resistance. However, break of 1.1062 will argue that rebound from 1.0879 has completed. Intraday bias will be turned back to the downside for retesting 1.0879.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. Hence, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

- advertisement -
- advertisement -