Daily Pivots: (S1) 1.1075; (P) 1.1119; (R1) 1.1145; More…

EUR/USD is staying in consolidation from 1.1026. Intraday bias remains neutral first the moment. In case of stronger rise, upside should be limited by 1.1249 resistance to bring down trend resumption. Break of 1.1051 will target 1.1026 low and below. However, sustained break of 1.1249 will have 55 day EMA taken out too. Stronger rise should then be seen to 1.1412 key resistance.

In the bigger picture, down trend from 1.2555 (2018 high) is in progress and extending. Prior rejection of 55 week EMA also maintained bearishness. Further fall should be seen to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Decisive break there will target 1.0339 (2017 low). On the upside, break of 1.1412 resistance is needed to indicate medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.2093; (P) 1.2153; (R1) 1.2189; More…

EUR/USD recovers after hitting 1.2103 but stays below 1.2265 resistance. Intraday bias remains neutral first. On the upside, break of 1.2265 will resume the rise from 1.1703 to retest 1.2348 high. On the downside, firm break of 1.1985 support should confirm that consolidation pattern from 1.2348 has started the third leg. Deeper fall would then be seen back to 1.1703 support.

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. Reaction from 1.2555 should reveal underlying long term momentum in the pair.

Daily Pivots: (S1) 1.1788; (P) 1.1816; (R1) 1.1838; More…

Intraday bias in EUR/USD remains on the upside despite some loss of upside momentum. Rise from 1.1663 short term bottom is on track to 1.1907 resistance first. Decisive break there will indicate that fall from 1.2265, as well as the consolidation pattern from 1.2348, have completed. Near term outlook will be turned bullish for 1.2265/2348 resistance. On the downside, break of 1.1734 will turn bias back to the downside for 1.1602/63 support zone 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 remains in favors long as 1.1602 support holds, to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). However sustained break of 1.1602 will argue that the rise from 1.0635 is over, and turn medium term outlook bearish again. Deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289 and below.

Daily Pivots: (S1) 1.0588; (P) 1.0611; (R1) 1.0643; More…

EUR/USD’s rebound from 1.0447 continues and the break of 1.0616 confirms short term bottoming. intraday bias is back on the upside for 1.0764 cluster resistance (38.2% retracement of 1.1274 to 1.0447 at 1.0763). On the downside, though, break of 1.0518 will bring retest of 1.0447 low instead.

In the bigger picture, fall from 1.1274 medium term top could still be a correction to rise from 0.9534 (2022 low). But chance of a complete trend reversal is rising. In either case, current fall should target 61.8% retracement of 0.9534 to 1.1274 at 1.0199 next. For now, risk will stay on the downside as long as 55 D EMA (now at 1.0719) holds, in case of rebound.

Daily Pivots: (S1) 1.1264; (P) 1.1304; (R1) 1.1332; More…..

Intraday bias in EUR/USD remains on the downside for 1.1215 support. Decisive break there will resume larger down trend for 1.1186 fibonacci level next. On the upside, above 1.1383 minor resistance will turn intraday bias back to the upside for 1.1499 resistance. Firm break there will indicate near term reversal and turn outlook bullish for 1.1814 key resistance.

In the bigger picture, down trend from 1.2555 medium term top has just resumed 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. On the upside, break of 1.1814 resistance is now needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of strong rebound.

Daily Pivots: (S1) 1.1824; (P) 1.1862; (R1) 1.1884; More…..

Intraday bias in EUR/USD remains neutral for the moment. Further rise is mildly in favor with 1.1754 support intact. On the upside, break of 1.2011 will resume whole rise form 1.0635. Nevertheless, on the downside, firm break of 1.1754 will turn bias to the downside for 38.2% retracement of 1.0635 to 1.2011 at 1.1485, to correct the rise from 1.6035.

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) 1.1045; (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.

Daily Pivots: (S1) 0.9930; (P) 0.9964; (R1) 1.0001; More…

Intraday bias in EUR/USD stays neutral for consolidation below 1.0092. 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) 1.0878; (P) 1.0938; (R1) 1.0976; More…

EUR/USD recovered after trying to draw support from 1.0908 and intraday bias stays neutral first. On the upside, firm break of 1.1094 will resume larger up trend to 1.1273 fibonacci level. However, considering bearish divergence condition in 4H MACD, sustained break of 1.0908 support will indicate short term topping and turn bias back to the downside. Further break of 1.0830 will target 1.0515 key support level.

In the bigger picture, rise from 0.9534 (2022 low) is in progress for 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. Sustained break there will solidify the case of bullish trend reversal and target 1.2348 resistance next (2021 high). This will now remain the favored case as long as 1.0515 support holds, even in case of deeper pull back.

Daily Pivots: (S1) 1.2120; (P) 1.2151; (R1) 1.2178; More….

EUR/USD edged higher to 1.2181 but quickly retreated. Intraday bias remains neutral first and some more consolidation could be seen. Downside should be contained by 1.1985 support to bring another rise. On the upside, break of 1.2181 will resume the rally from 1.1703 for retesting 1.2242/2348 resistance zone. Decisive break there will resume larger up trend for 1.2555 key resistance zone 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. Reaction from 1.2555 should reveal underlying long term momentum in the pair.

Daily Pivots: (S1) 1.0792; (P) 1.0864 (R1) 1.0904; More…

Range trading continues in EUR/USD and intraday bias remains neutral. On the downside, firm break o 1.0756 will resume larger down trend. Next target is 100% projection of 1.1494 to 1.0805 from 1.1184 at 1.0495. On the upside, firm break of 1.0935 resistance should confirm short term bottoming at 1.0756. Intraday bias will be back on the upside for 1.1184 structural resistance next.

In the bigger picture, the decline from 1.2348 (2021 high) is expected to continue as long as 1.1494 resistance holds. Firm break of 1.0635 (2020 low) will raise the chance of long term down trend resumption and target a retest on 1.0339 (2017 low) next. Nevertheless, break of 1.1494 will maintain medium term neutral outlook, and extending term range trading first.

Daily Pivots: (S1) 1.1532; (P) 1.1589 (R1) 1.1646; More…..

Intraday bias in EUR/USD remains neutral as more consolidative could be seen. But in case of another recovery, upside should be limited below 1.1851 resistance to bring fall resumption. Firm break of 1.1509 will resume larger decline from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Daily Pivots: (S1) 1.0595; (P) 1.0625; (R1) 1.0648; More…

Intraday bias in EUR/USD remains neutral for consolidations above 1.0601 temporary low. While stronger recovery cannot be ruled out, upside should be limited by 1.0723 support turned resistance. On the downside, break of 1.0601 will resume the decline from 1.1138 to 100% projection of 1.1138 to 1.0694 from 1.0980 at 1.0536 next.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Current fall from 1.1138 is seen as the third leg. While deeper decline is would be seen to 1.0447 and possibly below. Strong support should emerge from 61.8% retracement of 0.9534 to 1.1274 at 1.0199 to complete the correction.

Daily Pivots: (S1) 1.1768; (P) 1.1796; (R1) 1.1828; More…

Intraday bias in EUR/USD stays mildly on the downside at this point. Decline from 1.2265, as the third leg of correction from 1.2348, would target 1.1703 support. On the upside, though, break of 1.1880 will indicate short term bottoming and turn bias back to the upside for stronger rebound to 1.1974 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 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. Reaction from 1.2555 should reveal underlying long term momentum in the pair. However sustained break of 1.1602 will argue that the rise from 1.0635 is over, and turn medium term outlook bearish again.

Daily Pivots: (S1) 1.2142; (P) 1.2194; (R1) 1.2227; More….

EUR/USD is staying in consolidation from 1.2244 and intraday bias remains neutral. Further rise is expected as long as 1.2050 support holds. On the upside, break of 1.2244 will target a test on 1.2348 high. Decisive break there should confirm resumption of up trend from 1.0635. Next target is 1.2555 key long term resistance zone. However, break of 1.2050 will delay the bullish case. Intraday bias will be turned back to the downside to extend the consolidation pattern from 1.2348 with another falling leg.

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. Reaction from 1.2555 should reveal underlying long term momentum in the pair.

Daily Pivots: (S1) 1.1218; (P) 1.1340; (R1) 1.1405; More…

EUR/USD is staying in consolidation from 1.1496 and intraday bias remains neutral. Further rise is in favor as long as 1.1095 support holds. Sustained break of 1.1496 will pave the way to next fibonacci level at 1.1876. However, break of 1.1096 will turn bias back to the downside for retesting 1.0777 low.

In the bigger picture, a medium term bottom should have formed at 1.0777 after drawing support from 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break of 38.2% retracement of 1.2555 to 1.0777 at 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876. Rejection by 1.1456 will suggests that price actions from 1.0777 are merely a correction. Another fall below 1.0777 low would be seen at a later stage in this case.

Daily Pivots: (S1) 1.0850; (P) 1.0888; (R1) 1.0910; More…

EUR/USD drops to as low as 1.0865 so far and intraday bias stays on the downside. Break of 1.0879 support indicates medium term down trend resumption. Next near term target is 161.8% projection of 1.1172 to 1.0992 from 1.1095 at 1.0804. On the upside, above 1.0925 minor resistance will turn intraday bias neutral and bring consolidations first. But recovery should be limited by 1.0992 support turned resistance to bring fall resumption.

In the bigger picture, the break of 1.0879 low indicates resumption of whole down trend from 1.2555 (2018 high). Sustained break of 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813 will pave the way to retest 1.0339 low. For now, outlook will remain bearish as long as 1.1239 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.0811; (P) 1.0869; (R1) 1.0900; More…

Intraday bias in EUR/USD remains neutral as consolidation from 1.0929 is extending, but further rally is in favor with 1.0711 support intact. On the upside, break of 1.0929 will resume the rally from 1.0515 to retest 1.1032 high. Decisive break there will resume larger up trend from 0.9534 to 1.1273 fibonacci level next. On the downside, though, break of 1.0711 will turn bias to the downside to extend the corrective pattern from 1.1032 with another decline.

In the bigger picture, rise from 0.9534 (2022 low) is in progress with 38.2% retracement of 0.9534 to 1.1032 at 1.0460 intact. The strong support from 55 week EMA (now at 1.0625) was also a medium term bullish sign. Next target is 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. Sustained break there will solidify the case of bullish trend reversal and target 1.2348 resistance next (2021 high).

Daily Pivots: (S1) 1.0883; (P) 1.0928; (R1) 1.0957; More…

Intraday bias in EUR/USD remains neutral as range trading continues. Strong support from 55 D EMA (now at 1.0850) retains near term bullishness. Break of 1.1011 will resume the rally from 1.0634 and target 1.1094 resistance. Decisive break there will resume larger up trend from 0.9534.

In the bigger picture, as long as 1.0515 support holds, rise from 0.9534 (2022 low) would still extend higher. Sustained 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 (2021 high).

Daily Pivots: (S1) 1.2148; (P) 1.2194; (R1) 1.2227; More….

Intraday bias in EUR/USD remains neutral and further rise is expected with 1.2050 support intact. On the upside, break of 1.2244 will resume the rise from 1.1703 to retest 1.2348 high. However, break of 1.2050 will delay the bullish case. Intraday bias will be turned back to the downside to extend the consolidation pattern from 1.2348 with another falling leg.

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. Reaction from 1.2555 should reveal underlying long term momentum in the pair.