Daily Pivots: (S1) 1.0957; (P) 1.1005; (R1) 1.1084; More…

Intraday bias in EUR/USD remains cautiously on the downside at this point. Rebound from 1.0635 could have completed at 1.1147 already. Deeper fall is mildly in favor for retesting 1.0635 low. On the upside, however, decisive break of 61.8% retracement of 1.1496 to 1.0635 at 1.1167 will raise the chance of larger trend reversal and turn focus to 1.1496 key resistance.

In the bigger picture, as long as 1.1496 resistance holds, whole down trend from 1.2555 (2018 high) should still be in progress. Next target is 1.0339 (2017 low). However, sustained break of 1.1496 will argue that such down trend has completed. Rise from 1.0635 could then be seen as the third leg of the pattern from 1.0339. In this case, outlook will be turned bullish for retesting 1.2555.

Daily Pivots: (S1) 1.1530; (P) 1.1551; (R1) 1.1589; More…

EUR/USD’s recovery from 1.1512 continues today but outlook is unchanged. Intraday bias stays neutral first. Further decline is in favor as long as 1.1615 minor resistance holds. Break of 1.1512 will extend the pattern from 1.2348 to 61.8% projection of 1.1908 to 1.1523 from 1.1691 at 1.1453. Break will pave the way to 100% projection at 1.1306. On the upside, though, above 1.1615 minor resistance will dampen the bearish case and turn bias back to the upside for 1.1691 resistance.

In the bigger picture, price actions from 1.2348 should at least be a correction to rise from 1.0635 (2020 low). As long as 1.1908 resistance holds, deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289. Nevertheless break of 1.1908 resistance will revive medium term bullishness and turn focus back to 1.2348 high.

Daily Pivots: (S1) 1.1053; (P) 1.1089; (R1) 1.1111; More…

EUR/USD is staying above 1.1039 support and intraday bias remains neutral first. Also further rise is mildly in favor. On the upside, above 1.1199 will turn bias back to the upside for 100% projection of 1.0879 to 1.1179 from 1.0981 at 1.1281 next. However, break of 1.1039 will turn focus back to 1.0981 support instead.

In the bigger picture, 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.

Daily Pivots: (S1) 1.0506; (P) 1.0549 (R1) 1.0604; More…

Intraday bias in EUR/USD remains neutral and outlook is unchanged. In case of another recovery, upside should be limited by 1.0756 support turned resistance to bring fall resumption. On the downside, firm break of 1.0470 will resume larger down trend to 161.8% projection of 1.1494 to 1.0805 from 1.1184 at 1.0069.

In the bigger picture, the decline from 1.2348 (2021 high) is expected to continue as long as 1.1185 support turned resistance holds. The break of 1.0635 (2020 low) now raises the chance that it’s resuming long term down trend from 1.6039 (2008 high). Retest of 1.0339 (2017 low) low should be seen next. Decisive break there will confirm this bearish case.

Daily Pivots: (S1) 1.0823; (P) 1.0870; (R1) 1.0908; More…

EUR/USD is staying in consolidation below 1.0972 and intraday bias stays neutral. With 1.0787 support intact, further rally is expected. On the upside, above 1.0972 will resume the rally from 1.0515 to retest 01.1032 high. Firm break there will resume larger up trend from 0.9534. However, break of 1.0787 will turn bias back to the downside for 1.0711 support instead.

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) 1.1734; (P) 1.1763; (R1) 1.1796; More…..

EUR/USD dips notably in early US session but it’s staying in tight range of 1.1723/1814. Intraday bias stays neutral at this point. On the downside, break of 1.1723 minor support will suggest rejection by 38.2% retracement of 1.2555 to 1.1300 at 1.1779. In such case, intraday bias will be turned back to the downside for 1.1525 support. However, sustained break of 1.1779 will pave the way to 100% projection of 1.1300 to 1.1733 from 1.1525 at 1.1958.

In the bigger picture, a medium term bottom should be in place at 1.1300, on bullish convergence condition in daily MACD and some consolidations would be seen. But still, note that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. That carries some long term bearish implications. Thus, we’d expect fall from 1.2555 high to resume after consolidation completes. Below 1.1300 should send EUR/USD through 61.8% retracement of 1.0339 to 1.2555 at 1.1186. And, in that case, EUR/USD would head to retest 1.0339 (2017 low).

Daily Pivots: (S1) 1.0702; (P) 1.0771; (R1) 1.0828; More…

Intraday bias in EUR/USD remains neutral for the moment. Strong rebound from current level, followed by break of 1.0929 will reaffirm near term bullishness, and extend the rise from to retest 1.1032 high. Firm break there will resume larger up trend from 0.9534 to 1.1273 fibonacci level next. However, sustained trading below 4 hour 55 EMA (now at 1.0740) will likely extend the corrective pattern from 1.1032 and bring deeper decline back towards 1.0515.

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 1.0623) 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 solidity the case of bullish trend reversal and target 1.2348 resistance next (2021 high).

Daily Pivots: (S1) 1.1259; (P) 1.1282; (R1) 1.1299; More……

Intraday bias in EUR/USD remains neutral for the moment. With 1.1251 minor support intact, further rise is still mildly in favor. On the upside, above 1.1347 will target 1.1448 key resistance next. Decisive break there will carry larger bullish implications. On the downside, break of 1.1251 minor support will suggest that recovery from 1.1107 has completed. Intraday bias will be turned back to the downside for retesting 1.1107 low.

In the bigger picture, current development argues that a medium term bottom could be in place at 1.1107, on bullish convergence condition in daily MACD. Decisive break of 1.1448 resistance would confirm this case. And stronger rebound would be seen to 38.2% retracement of 1.2555 to 1.1107 at 1.1660. At this point, it’s early to judge whether rise from 1.1107 is a corrective move or the start of an medium term up trend. We’d look at the structure of the rebound to decide later. But in any case, for now, risk will remain on the upside as long as 1.1107 low holds.

Daily Pivots: (S1) 1.1173; (P) 1.1213 (R1) 1.1251; More…..

No change in EUR/USD’s outlook as it’s staying in range of 1.1111/1264. Intraday bias remains neutral and more consolidation could be seen. But still outlook will remain bearish as long as 1.1324 resistance holds. Larger down trend is expected to resume sooner or later. On the downside, break of 1.1111 low will target 100% projection of 1.1569 to 1.1176 from 1.1448 at 1.1105 next. However, firm break of 1.1324 will be an early sign of larger trend reversal. In such case, further rise would be seen back to 1.1448 resistance for confirmation.

In the bigger picture, down trend from 1.2555 (2018 high) is still in progress. Current fall should now target 78.6% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.0813. Sustained break there will pave the way to retest 1.0339. On the downside, break of 1.1448 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.0920; (P) 1.0953; (R1) 1.0975; More…

Intraday bias in EUR/USD remains neutral as consolidation from 1.1008 is still extending. Further rally is expected as long as 1.0722 support holds. On the upside, break of 1.1016 will resume the whole rise from 1.0447 to retest 1.1274 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 1.0722 support will argue that the third leg has already started for 1.0447 and below.

Daily Pivots: (S1) 1.1068; (P) 1.1083; (R1) 1.1093; More…

Intraday bias in EUR/USD remains neutral with focus on 1.1051. Break will target 1.1026 low and below. On the upside, in case of another recovery, upside should be limited by 1.1249 resistance to bring down trend resumption. 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) 1.0752; (P) 1.0811; (R1) 1.0846; More…

EUR/USD’s rally resumes by taking out 1.0873 temporary top. Intraday bias is back on the upside. Current rise from 0.9534 should target 61.8% projection of 0.9630 to 1.0733 from 1.0482 at 1.1164 next. On the downside, below 1.0765 minor support will turn intraday bias neutral again. But outlook will stay bullish as long as 1.0482 support holds.

In the bigger picture, current development suggests that the rally from 0.9534 low (2022 low) is a medium term up trend rather than a correction. Further rally is in favor to 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 next. This will remain the favored case as long as 1.0482 support holds.

Daily Pivots: (S1) 1.1577; (P) 1.1597; (R1) 1.1630; More…

EUR/USD is still bounded in consolidation from 1.1523 and intraday bias remains neutral at this point. Further decline is expected as long as 1.1691 resistance holds. On the downside, break of 1.1523 will resume the fall from 1.2265, and that from 1.2348 too, for long term fibonacci level at 1.1289 next. However, firm break of 1.1691 will indicate short term bottoming and turn bias back to the upside for stronger rebound, towards 1.1908 resistance.

In the bigger picture, price actions from 1.2348 should at least be a correction to rise from 1.0635 (2020 low). As long as 1.1908 resistance holds, deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289. Nevertheless break of 1.1908 resistance will revive medium term bullishness and turn focus back to 1.2348 high.

Daily Pivots: (S1) 1.0682; (P) 1.0731; (R1) 1.0756; More…

Intraday bias in EUR/USD remains neutral for the moment. On the downside, break of 1.0634 will resume the corrective decline from 1.1094. Deeper fall should then be seen to 1.0515 cluster support, 38.2% retracement of 0.9534 to 1.1094 at 1.0498. On the upside, however, above 1.0778 will resume the rebound from 1.0634 short term bottom to 55 D EMA (now at 1.0829).

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) 1.0368; (P) 1.0438 (R1) 1.0517; More…

Intraday bias in EUR/USD is back on the downside for retesting 1.0339 low. Decisive break there will resume larger down trend. Next target is long term projection level at 1.0090. On the upside, above 1.0506 minor resistance will delay the bearish case and turn intraday bias neutral again.

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) 1.1631; (P) 1.1648 (R1) 1.1675; More…..

EUR/USD is still bounded in consolidation from 1.1509 and intraday bias stays neutral. In case of stronger recovery, upside should be limited by 1.1851 resistance to bring fall resumption eventually. On the downside, decisive break of 1.1507 low will resume larger down trend from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447.

In the bigger picture, 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) 1.0893; (P) 1.0926; (R1) 1.0943; More…

EUR/USD’s decline from 1.1239 is still in progress and intraday bias stays on the downside for 1.0879 low. Firm break there will resume larger down trend for 1.0813 fibonacci level next. On the upside, above 1.0957 minor resistance will turn intraday bias neutral first. But recovery should be limited by 1.0992 support turned resistance to bring fall resumption.

In the bigger picture, rebound from 1.0879 is seen as a corrective that might have completed after rejection by 55 week EMA. Break of 1.0879 will resume the down trend from 1.2555 (2018 high) for 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break there will pave the way to retest 1.0339 low. For now, this will remain the favored case as long as 1.1239 resistance holds.

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.

Daily Pivots: (S1) 1.2008; (P) 1.2026; (R1) 1.2053; More….

EUR/USD is staying in range below 1.2079 temporary top and intraday bias stays neutral first. Further rally is expected with 1.1941 minor support intact. As noted before, correction from 1.2348 should have completed with three waves down to 1.1703. Break of 1.2079 will target 1.2442/2348 resistance zone. However, break of 1.1941 will argue that the rebound from 1.1703 has completed, and turn bias back to the downside for this 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. 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.

Daily Pivots: (S1) 1.0937; (P) 1.0968; (R1) 1.0995; More…

Intraday bias in EUR/USD remains neutral for the moment and consolidation from 1.0879 temporary low might extend. But near term outlook remains bearish as long as 1.1109 resistance holds. Medium term down trend is expected to continue and break of 1.0879 will target 1.0813 fibonacci level next.

In the bigger picture, down trend from 1.2555 (2018 high) is in progress. 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 confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.