Thu, Oct 22, 2020 @ 04:20 GMT

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1776; (P) 1.1808; (R1) 1.1857; More…..

Intraday bas in EUR/USD stays on the upside at this point. rebound form 1.1612 is still in progress for retesting 1.2011 high. Strong break there would resume larger rally from 1.0635. On the downside, break of 1.1759 minor support will turn intraday bias neutral again first.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1776; (P) 1.1808; (R1) 1.1857; More…..

EUR/USD’s break of 1.1830 resistance suggests resumption of rebound from 1.1612. Intraday bias is back on the upside and further rise would be seen to retest 1.2011 high. We’d be cautious on strong resistance from 1.2011 to limit upside, to bring another falling leg to extend a consolidation pattern. But strong break there would resume larger rally from 1.0635. On the downside, break of 1.1759 minor support will turn intraday bias neutral again first.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1718; (P) 1.1756; (R1) 1.1809; More…..

EUR/USD rises further today and intraday bias stays on the upside for 1.1830 minor resistance first. Break will pave the way for retesting 1.2011. On the downside, below 1.1688 should extend the correction from 1.2011 through 1.1612 to 38.2% retracement of 1.0635 to 1.2011 at 1.1485.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1718; (P) 1.1756; (R1) 1.1809; More…..

Intraday bias in EUR/USD is mildly on the upside for 1.1830 minor resistance first. Break will pave the way for retesting 1.2011. On the downside, below 1.1688 should extend the correction from 1.2011 through 1.1612 to 38.2% retracement of 1.0635 to 1.2011 at 1.1485.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1692; (P) 1.1719; (R1) 1.1744; More…..

EUR/USD’s break of 1.1771 minor resistance dampens the original bearish view and suggests that rebound from 1.1612 hasn’t completed yet. Intraday bias is back on the upside for 1.1830 first. Break will pave the way for retesting 1.2011. On the downside, below 1.1688 should extend the correction from 1.2011 through 1.1612 to 38.2% retracement of 1.0635 to 1.2011 at 1.1485.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1692; (P) 1.1719; (R1) 1.1744; More…..

Intraday bias in EUR/USD stays neutral for some consolidations. With 1.1771 resistance intact, another fall is in favor in EUR/USD. Break of 1.1688 will target 1.1612 support. Break there will confirm resumption of corrective decline from 1.2011, and target 38.2% retracement of 1.0635 to 1.2011 at 1.1485. On the upside, break of 1.1771 will turn bias back to the upside for 1.1830 resistance first.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Weekly Outlook

EUR/USD’s fall last week suggests that recovery from 1.1612 has completed at 1.1830. More importantly, corrective decline from 1.2011 might not be finished yet. But as a temporary low was in place at 1.1688, initial bias is neutral this week first. On the downside, break of 1.1688 will target 1.1612 support. Break will confirm this case and target 38.2% retracement of 1.0635 to 1.2011 at 1.1485. On the upside, break of 1.1771 will turn bias back to the upside for 1.1830 resistance first.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

In the long term picture, the strong break of 55 month EMA is taken as a sign of long term trend reversal. Immediate focus will be on decade long trend line resistance (now at 1.1647). Sustained trading above there will add more credence to the case that down trend from 1.6039 (2008 high) has finished at 1.0339. Further break of 1.2555 cluster resistance (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ) will confirm and target 61.8% retracement at 1.3862 and above.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1679; (P) 1.1718; (R1) 1.1748; More…..

Intraday bias in EUR/USD is turned neutral with today’s recovery. Further decline is expected with 1.1771 minor resistance intact. Below 1.1688 will target 1.1612 support first. Break will resume whole corrective fall from 1.2011. Next target is 38.2% retracement of 1.0635 to 1.2011 at 1.1485. Though, break of 1.1771 will turn bias back to the upside for 1.1830 resistance first.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1679; (P) 1.1718; (R1) 1.1748; More…..

Intraday bias in EUR/USD remains mildly on the downside for 1.1612 support. Break there will resume whole corrective fall from 1.2011. Next target is 38.2% retracement of 1.0635 to 1.2011 at 1.1485. On the upside, break of 1.1771 minor resistance will mix up the near term outlook again and turn bias neutral again.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1721; (P) 1.1746; (R1) 1.1772; More…..

EUR/USD’s decline today should confirm completion of recovery from 1.1612 at 1.1830. Intraday bias is back on the downside, for 1.1612 support. Break will resume corrective fall from 1.2011, for 38.2% retracement of 1.0635 to 1.2011 at 1.1485. On the upside, break of 1.1771 minor resistance will mix up the near term outlook again and turn bias neutral again.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1721; (P) 1.1746; (R1) 1.1772; More…..

Intraday bias in EUR/USD remains neutral at this point. On the upside, break of 1.1830 will resume the rebound from 1.1612 to retest 1.2011 high. On the downside, through, break of 1.1719 will suggest that correction from 1.2011 is extending with another leg. Intraday bias will be turned back to the downside for 1.1612 and below.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1713; (P) 1.1764; (R1) 1.1798; More…..

Despite breaching 1.1732 support to 1.1719, EUR/USD quickly recovered and intraday bias stays neutral first. On the upside, break of 1.1830 will resume the rebound from 1.1612 to retest 1.2011 high. On the downside, through, break of 1.1719 will suggest that correction from 1.2011 is extending with another leg. Intraday bias will be turned back to the downside for 1.1612 and below.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1713; (P) 1.1764; (R1) 1.1798; More…..

Intraday bias in EUR/USD remains neutral for the moment. As long as 1.1732 minor support holds, another rise is still mildly in favor. Break of 1.1830 will extend the rebound form 1.1612 to retest 1.2011 high. However, break of 1.1732 will suggest that correction from 1.2011 is extending with another leg. Intraday bias will be turned back to the downside for 1.1612 and below.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1791; (P) 1.1810; (R1) 1.1834; More…..

Intraday bias in EUR/USD is turned neutral with today’s retreat. Further rise will remain mildly in favor as long as 1.1732 minor support holds. Above 1.1830 will target a test on 1.2011 high. Firm break of 1.2011 high will confirm resumption of rally from 1.0635 and target 61.8% projection of 1.0635 to 1.2011 from 1.1612 at 1.2462. On the downside, break of 1.1732 minor support will dampen this bullish view and turn focus back to 1.1612 support instead.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1791; (P) 1.1810; (R1) 1.1834; More…..

Further rise is still expected in EUR/USD as long as 1.1732 minor support holds. Firm break of 1.2011 high will confirm resumption of rally from 1.0635 and target 61.8% projection of 1.0635 to 1.2011 from 1.1612 at 1.2462. On the downside, break of 1.1732 minor support will dampen this bullish view and turn focus back to 1.1612 support instead.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1779; (P) 1.1805; (R1) 1.1856; More…..

Intraday bias in EUR/USD remains on the upside for retesting 1.2011 high. Firm break there will confirm resumption of rally from 1.0635 and target 61.8% projection of 1.0635 to 1.2011 from 1.1612 at 1.2462. On the downside, break of 1.1732 minor support will dampen this bullish view and turn focus back to 1.1612 support instead.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Weekly Outlook

EUR/USD’s rebound extended higher last week after some brief consolidations. The development further affirm the case that corrective pull back from 1.2011 has completed at 1.1612 already. Initial bias stays on the upside this week for retesting 1.2011 resistance first. Break will resume whole rally from 1.0635 and target 61.8% projection of 1.0635 to 1.2011 from 1.1612 at 1.2462. On the downside, break of 1.1732 minor support will dampen this bullish view and turn focus back to 1.1612 support instead.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

In the long term picture, the strong break of 55 month EMA is taken as a sign of long term trend reversal. Immediate focus will be on decade long trend line resistance (now at 1.1650). Sustained trading above there will add more credence to the case that down trend from 1.6039 (2008 high) has finished at 1.0339. Further break of 1.2555 cluster resistance (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ) will confirm and target 61.8% retracement at 1.3862 and above.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1734; (P) 1.1758; (R1) 1.1783; More…..

EUR/USD’s rebound form 1.1612 resumes by taking out 1.1807 temporary top. Intraday bias is back on the upside for retesting 1.2011 high. Break there will resume larger rally from 1.0635. On the downside, break of 1.1732 minor support is needed to indicate completion of the rebound. Otherwise, outlook will stays mildly bullish in case of retreat.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1734; (P) 1.1758; (R1) 1.1783; More…..

Intraday bias in EUR/USD remains neutral as consolidation continues below 1.1807 temporary top. Another rise is still in favor with 1.1695 support intact. Break of 1.1807 will resume the rebound from 1.1612 to retest 1.2011 high. On the downside, break of 1.1695 will likely resume the correction from 1.2011 to 38.2% retracement of 1.0635 to 1.2011 at 1.1485.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1732; (P) 1.1757; (R1) 1.1789; More…..

EUR/USD dips mildly today but stays above 1.1695 minor support, intraday bias remains neutral for the moment. Another rise is still in favor. Break of 1.1807 will resume the rebound from 1.1612 to retest 1.2011 high. On the downside, break of 1.1695 will likely resume the correction from 1.2011 to 38.2% retracement of 1.0635 to 1.2011 at 1.1485.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

- advertisement -
- advertisement -