EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0857; (P) 1.0881; (R1) 1.0897; More

Intraday bias in EUR/USD remains on the downside, as fall from 1.0980 short term top is in progress for 55 D EMA (now at 1.0856). Sustained break there will argue that rebound from 1.0694 has completed and bring retest of this low. For now, risk will stay on the downside as long as 1.0980 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0873; (P) 1.0887; (R1) 1.0900; More

No change in EUR/USD and intraday bias stays on the downside. Fall from 1.0980 short term top would target 55 D EMA (now at 1.0856). Sustained break there will argue that rebound from 1.0694 has completed and bring retest of this low. For now, risk will stay on the downside as long as 1.0980 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0873; (P) 1.0887; (R1) 1.0900; More

Intraday bias in EUR/USD remains on the downside for the moment. Fall from 1.0980 short term top would target 55 D EMA (now at 1.0856). Sustained break there will argue that rebound from 1.0694 has completed and bring retest of this low. For now, risk will stay on the downside as long as 1.0980 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Weekly Outlook

EUR/USD’s fall last week indicates short term topping at 1.0980. Initial bias stays on the downside this week for 55 D EMA (now at 1.0853). Sustained break there will argue that rebound from 1.0694 has completed and bring retest of this low. For now, risk will stay on the downside as long as 1.0980 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

In the long term picture, a long term bottom is in place at 0.9534 on bullish convergence condition in M MACD. It’s still early to call for bullish trend reversal with the pair staying inside falling channel in the monthly chart. Nevertheless, sustained trading above 55 M EMA (now at 1.1053) and break of 1.1274 resistance will raise the chance of reversal and target 1.2348 resistance for confirmation.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0858; (P) 1.0907; (R1) 1.0932; More

Intraday bias in EUR/USD remains mildly on the downside at this point. Fall from 1.0980 short term top would target 1.0797 support. Firm break there will argue that rebound from 1.0694 has completed and bring retest of this low. For now, risk will stay on the downside as long as 1.0980 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0858; (P) 1.0907; (R1) 1.0932; More

EUR/USD’s break of 55 4H EMA (now at 1.0900) indicates short term topping at 1.0980. Intraday bias is back on the downside for 1.0797 support. Firm break there will argue that rebound from 1.0694 has completed and bring retest of this low. For now, risk will stay on the downside as long as 1.0980 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0924; (P) 1.0944; (R1) 1.0968; More

Intraday bias in EUR/USD remains neutral for the moment. Further rise is in favor as long as 55 4H EMA (now at 1.0904) holds. Above 1.0980 will resume the rally from 1.0694 to retest 1.1138 high. However, sustained break of the EMA will turn bias to the downside for 1.0797 support instead.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0924; (P) 1.0944; (R1) 1.0968; More

EUR/USD is still capped below 1.0980 resistance despite current recovery. Intraday bias remains neutral first. Further rise is in favor as long as 55 4H EMA (now at 1.0904) holds. Above 1.0980 will resume the rally from 1.0694 to retest 1.1138 high. However, sustained break of the EMA will turn bias to the downside for 1.0797 support instead.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0904; (P) 1.0924; (R1) 1.0946; More

Outlook in EUR/USD is unchanged and intraday bias stays neutral at this point. Further rise is in favor as long as 55 4H EMA (now at 1.0894) holds. Above 1.0980 will resume the rally from 1.0694 to retest 1.1138 high. However, sustained break of the EMA will turn bias to the downside for 1.0797 support instead.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0904; (P) 1.0924; (R1) 1.0946; More

Intraday bias in EUR/USD remains neutral for the moment. Further rise is in favor as long as 55 4H EMA (now at 1.0892) holds. Above 1.0980 will resume the rally from 1.0694 to retest 1.1138 high). However, sustained break of the EMA will turn bias to the downside for 1.0797 support instead.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0911; (P) 1.0929; (R1) 1.0944; More

EUR/USD’s retreat from 1.0980 extends slightly lower today but intraday bias stays neutral first. Further rise would remain in favor as long as 1.0797 support holds. Fall from 1.1138 could have completed at 1.0694, as a correction to rise from 1.0447. Above 1.0980 will resume the rise from 1.0694 to retest 1.1138 high.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0911; (P) 1.0929; (R1) 1.0944; More

Intraday bias in EUR/USD remains neutral as consolidations continue below 1.0980 temporary top. Further rise would remain in favor as long as 1.0797 support holds. Fall from 1.1138 could have completed at 1.0694, as a correction to rise from 1.0447. Above 1.0980 will resume the rise from 1.0694 to retest 1.1138 high.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0911; (P) 1.0946; (R1) 1.0974; More

Intraday bias in EUR/USD is turned neutral with current retreat. Some consolidations would be seen below 1.0980 temporary top first. But further rise would remain in favor as long as 1.0797 support holds. Fall from 1.1138 could have completed at 1.0694, as a correction to rise from 1.0447. Above 1.0980 will resume the rise from 1.0694 to retest 1.1138 high.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0911; (P) 1.0946; (R1) 1.0974; More

Intraday bias is EUR/USD remains on the upside at this point. Fall from 1.1138 could have completed at 1.0694, as a correction to rise from 1.0447. Further rally would be seen to retest 1.1138 next. On the downside, below 1.0867 minor support will turn intraday bias neutral and bring consolidations.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Weekly Outlook

EUR/USD’s rebound from 1.0694 extended to as high as 1.0980 last week. The development suggests that fall from 1.1138 has completed as a correction to rise from 1.0447. Initial bias stays on the upside this week for retesting 1.1138 first. On the downside, below 1.0867 minor support will turn intraday bias neutral and bring consolidations.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

In the long term picture, a long term bottom is in place at 0.9534 on bullish convergence condition in M MACD. It’s still early to call for bullish trend reversal with the pair staying inside falling channel in the monthly chart. Nevertheless, sustained trading above 55 M EMA (now at 1.1055) and break of 1.1274 resistance will raise the chance of reversal and target 1.2348 resistance for confirmation.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0894; (P) 1.0922; (R1) 1.0975; More

EUR/USD’s rally continues in early US session and intraday bias stays on the upside. Current rise from 1.0694 should target a retest on 1.1138 resistance next. On the downside, below 1.0867 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0894; (P) 1.0922; (R1) 1.0975; More

EUR/USD’s rally from 1.0694 resumed after brief retreat and intraday bias is back on the upside. Further rally should be seen to retest 1.1138 resistance next. On the downside, below 1.0867 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0856; (P) 1.0885; (R1) 1.0929; More

Intraday bias in EUR/USD is turned neutral first with current retreat, and some consolidations would be seen below 1.0914 temporary top first. But further rally will remain in favor as long as 1.0795 support holds. Above 1.0914 will resume the rebound from 1.0694 towards 1.1138 resistance next.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0856; (P) 1.0885; (R1) 1.0929; More

EUR/USD’s break of 1.0887 confirms resumption of rebound from 1.0694. Intraday bias is back on the upside for retesting 1.1138 first. Firm break there will resume the rise from 1.0447 to retest 1.1274 high. For now, further rally is in favor as long as 1.0795 support holds, in case of retreat.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0840; (P) 1.0858; (R1) 1.0875; More

Immediate focus is now on 1.0887 resistance in EUR/USD with today’s rally. Firm break there will resume whole rise from 1.0694. Also, sustained trading above 55 D EMA (now at 1.0831) will affirm the case that fall from 1.1138 has completed. In this case, intraday bias will be back on the upside for retesting 1.1138 high. Nevertheless, on the downside, break of 1.0795 minor support will turn bias back to the downside for retesting 1.0694 support.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.