Daily Pivots: (S1) 1.0082; (P) 1.0141; (R1) 1.0204; More…

EUR/USD’s rebound from 0.9951 is still in progress and intraday bias stays on the upside for 1.0348 support turned resistance. Break there will target channel resistance at 1.0514. On the downside, below 1.0118 minor support will bring retest of 0.9951 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, outlook will stay bearish as long as 1.0773 resistance holds, in case of rebound.

Daily Pivots: (S1) 1.1687; (P) 1.1716; (R1) 1.1772; More…..

Intraday bias in EUR/USD remains neutral at this point. On the downside, break of 1.1612 will extend the fall from 1.2011 short term top to 38.2% retracement of 1.0635 to 1.2011 at 1.1485. However, firm break of 1.1752 will suggest that the corrective pull back has completed. Intraday bias will be turned back to the upside for retesting 1.2011.

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.

Daily Pivots: (S1) 1.2090; (P) 1.2112; (R1) 1.2128; More…..

EUR/USD is still bounded in consolidation from 1.2177 temporary top and intraday bias stays neutral. In case of another retreat, downside should be contained by 1.2003 support to bring another rise. On the upside, break of 1.2177 will target 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452 next.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could 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 1.1602 support holds.

Daily Pivots: (S1) 1.1136; (P) 1.1136; (R1) 1.1191; More…..

EUR/USD’s rise extends further today and it’s now pressing 1.1263 key near term resistance. At long as this resistance holds, outlook will stay bearish. That is, larger down trend from 1.2555 should resume sooner rather than later through 1.1107 low. However, considering bullish convergence condition in daily MACD, firm break of 1.1263 will be an early sign of medium term bottoming. Intraday bias will be turned back to the upside for 1.1448 resistance for confirmation.

In the bigger picture, down trend from 1.2555 (2018 high) is still in progress. Such decline would target 78.6% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.0813 next. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1448 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.1756; (P) 1.1829; (R1) 1.1895; More…..

Intraday bias in EUR/USD remains neutral at this point. Further rise is in favor as long as 1.1711 holds. On the upside, break of 1.1965 will extend the whole rise from 1.0635. However, considering bearish divergence condition in 4 hour MACD, break of 1.1711 should confirm short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.1591).

In the bigger picture, down trend from 1.2555 (2018 high) has completed at 1.0635 already. Rise form 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.

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.

Daily Pivots: (S1) 1.2057; (P) 1.2114; (R1) 1.2168; More…

Intraday bias in EUR/USD remains neutral as it’s still holding above 1.2052 support. On the downside, break of 1.2052 will will resume whole correction from 1.2348. Intraday bias will be turned back to the downside for 61.8% retracement of 1.1602 to 1.2348 at 1.1887. On the upside, though, break of 1.2188 resistance will turn bias back to the upside for retesting 1.2348.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could 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 1.1602 support holds. We’d be alerted to topping sign around 1.2516/55. But sustained break there will carry long term bullish implications.

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.

Daily Pivots: (S1) 1.0422; (P) 1.0511 (R1) 1.0642; More…

Intraday bias in EUR/USD remains neutral for the moment. Outlook will stay bearish as long as 1.0786 resistance holds. Sustained break of 1.0339/48 will resume larger down trend. Next target is long term projection level at 1.0090..

In the bigger picture, focus stays on 1.0339 long term support (2017 low). Decisive break there will resume whole down trend from 1.6039 (2008 high). Next target is 61.8% projection of 1.3993 to 1.0339 from 1.2348 at 1.0090. However, firm break of 1.0805 support turned resistance will delay this bearish case, and bring stronger rebound first.

Daily Pivots: (S1) 0.9759; (P) 0.9805; (R1) 0.9891; More…

Intraday bias in EUR/USD stays neutral as range trading continues. Deeper decline is expected with 0.9998 resistance intact. Below 0.9630 will bring retest of 0.9534 low first. Firm break there will resume larger down trend. However, break of 0.9998 will confirm short term bottoming and turn bias back the upside for stronger rebound.

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 0.9998 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

Daily Pivots: (S1) 0.9833; (P) 0.9894; (R1) 0.9934; More…

Intraday bias in EUR/USD remains neutral for the moment. Further rise is in favor as long as 0.9847 minor support holds. Break of 1.0092 will target 38.2% retracement of 1.1494 to 0.9534 at 1.0283. However, break of 0.9847 will turn bias back to the downside for 0.9534/9630 support zone instead.

In the bigger picture, the case of medium term bottoming at 0.9534 building up, with bullish convergence condition in daily MACD. While it is too early to call for trend reversal, firm break of 0.9998 opens up stronger rebound back to 55 week EMA (now at 1.0630) even as a corrective rise. However, sustained trading back below 55 day EMA (now at 0.9938) will revive medium term bearishness for another fall through 0.9534 low.

Daily Pivots: (S1) 1.1916; (P) 1.1951; (R1) 1.2015; More….

EUR/USD is still staying in range of 1.1834/1989 and intraday bias remains neutral for the moment. On the upside, break of 1.1989 will resume the rebound form 1.1834 for 55 day EMA (now at 1.2039). Sustained trading above 55 day EMA will indicate completion of correction from 1.2348 and bring retest of this high. On the downside, however, break of 1.1834 will extend the correction from 1.2348 to 38.2% retracement of 1.0635 to 1.2348 at 1.1694.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could 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 1.1602 support holds. We’d be alerted to topping sign around 1.2516/55. But sustained break there will carry long term bullish implications.

Daily Pivots: (S1) 1.2078; (P) 1.2105 (R1) 1.2156; More….

Intraday bias in EUR/USD remains neutral for consolidation above 1.2054 temporary low. In case of stronger recovery upside should be limited by 1.2214 support turned resistance to bring another decline. Below 1.2054 will target 161.8% projection of 1.2475 to 1.2214 from 1.2413 at 1.1991 first. Break will target 200% projection at 1.1891.

In the bigger picture, current decline and firm break of 1.2154 support confirms rejection by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. A medium term top should be in place at 1.2555 and deeper decline would be seen back to 38.2% retracement of 1.0339 to 1.2555 at 1.1708 first. We’ll look at the structure and momentum of such decline before decision if it’s an impulsive or corrective move.

Daily Pivots: (S1) 1.1047; (P) 1.1077; (R1) 1.1115; More…

EUR/USD falls sharply after rejection by 1.1146 resistance and immediate focus is now on 1.1011 resistance turned support. Decisive break there will argue that larger correction is underway. Deeper fall would then be seen to 1.0832 support next. Nevertheless, rebound from current level, followed by firm break of 1.1146, will bring retest of 1.1274 high instead.

In the bigger picture, rise from 0.9534 is still expected to continue as long as 1.1011 resistance turned support holds. Decisive break of 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 will solidify the case of bullish trend reversal and target 1.2348 resistance next. However, firm break of 1.1011 will indicate rejection by 1.1273 and raise the chance of reversal. Deeper fall would be seen back to 1.0634 support first.

Daily Pivots: (S1) 1.1233; (P) 1.1288; (R1) 1.1315; More…..

EUR/USD dipped to 1.1249 earlier today but quickly recovered, with 4 hour MACD crossed above signal line again. Intraday bias turned neutral first. Further decline is still expected with 1.1341 minor resistance intact. We’d holding on to the view that consolidation from 1.1215 has completed. Below 1.1249 will target 1.1215 first. Break will resume larger down trend from 1.2555 to 1.1186 fibonacci level. However, considering bullish convergence condition in 4 hour MACD, break of 1.1341 resistance will dampen out view and suggest short term bottoming. Intraday bias will be turned back to the upside to extend the consolidation from 1.1215 with another rising leg.

In the bigger picture, as long as 1.1814 resistance holds, down trend down trend from 1.2555 medium term top is still in progress and should target 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. However, break of 1.1814 will confirm completion of such down trend and turn medium term outlook bullish.

Daily Pivots: (S1) 1.1264; (P) 1.1288; (R1) 1.1309; More…

Intraday bias in EUR/USD stays neutral for the moment. On the upside, firm break of 1.1382 resistance should confirm short term bottoming at 1.1186. Intraday bias will be turned back to the upside for 55 day EMA (now at 1.1480). On the downside, break of 1.1185 will resume larger fall from 1.2348.

In the bigger picture, there are various ways of interpreting the fall from 1.2348 (2021 high). It could be a correction to rise from 1.0635 (2020 low), the fourth leg of a sideway pattern from 1.0339 (2017 low), or resuming long term down trend. In any case, outlook will now stay bearish as long as 1.1703 support turned resistance holds. Sustained break of 61.8% retracement of 1.0635 to 1.2348 at 1.1289 would pave the way back to 1.0635.

Daily Pivots: (S1) 1.1165; (P) 1.1207; (R1) 1.1274; More…

Intraday bias in EUR/USD remains neutral for consolidation above 1.1120 temporary low. Further fall is expected as long as 1.1299 minor resistance holds. On the downside, break of 1.1120 will resume larger down trend to 61.8% projection of 1.1908 to 1.1185 from 1.1482 at 1.1035. Break will target 100% projection at 1.0759. However, break of 1.1299 minor resistance will bring stronger rebound back towards 1.1482 structural resistance.

In the bigger picture, the strength of the the decline from 1.2348 (2021 high) suggests that it’s not a corrective move. But still, it could be the fourth leg of a sideway pattern from 1.0339 (2017 low), or resuming long term down trend. In any case, outlook will now stay bearish as long as 1.1482 resistance holds. Next target would be 1.0635 low.

Daily Pivots: (S1) 1.0768; (P) 1.0808; (R1) 1.0838; More…

EUR/USD’s fall from 1.1016 is still in progress and intraday bias stays on the downside. Sustained break of 55 D EMA (now at 1.0770) will pave the way to retest 1.0447 support. On the upside, above 1.0846 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.1016 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 tentatively seen as the second leg. Hence while further rally could be seen, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 55 D EMA will argue that the third leg has already started for 1.0447 and below.

Daily Pivots: (S1) 1.1292; (P) 1.1315; (R1) 1.1353; More…..

EUR/USD retreats mildly after hitting 1.1338 but downside is contained by 4 hour 55 EMA. Outlook is unchanged so far as rebound from 1.1176 is seen as a corrective move. In case of another rise, upside should be limited well below 1.1419 resistance to bring fall resumption. On the downside, break of 1.1176 will extend the down trend from 1.2555 and target 100% projection of 1.1814 to 1.1215 from 1.1569 at 1.0970 next.

In the bigger picture, down trend from 1.2555 medium term top is still in progress. Bearishness is affirmed by sustained trading below falling 55 week EMA. 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 is met. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1569 resistance will now indicate completion of such down trend and turn medium term outlook bullish.

Daily Pivots: (S1) 1.2063; (P) 1.2090; (R1) 1.2119; More….

No change in EUR/USD’s outlook as further rise is expected with 1.1992 minor support intact. Current rally from 1.1703 should target a test on 1.2242/2348 resistance zone. Decisive break there will resume larger up trend from 1.0635. On the downside, though, break of 1.1992, will turn bias to the downside for deeper pull back.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could 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 1.1602 support holds. However, sustained break of 1.1602 will argue that whole rise from 1.10635 has completed. Deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289.