Daily Pivots: (S1) 1.1140; (P) 1.1163; (R1) 1.1186; More…..

Intraday bias in EUR/USD remains neutral at this point. Price actions from 1.1111 is a correction pattern and could have completed at 1.1263. Decisive break of 1.1111 will resume larger down trend for 100% projection of 1.1448 to 1.1183 from 1.1324 at 1.1059. Though, on the upside, above 1.1224 minor resistance will turn bias back to the upside to extend the consolidation from 1.1111 first.

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 be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.0916; (P) 1.0947; (R1) 1.0991; More…

Intraday bias in EUR/USD remains neutral as it’s still bounded in range below 1.1011. Strong support from 55 D EMA (now at 1.0838) 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) 1.0366; (P) 1.0428 (R1) 1.0489; More…

EUR/USD is still holding in range above 1.0339/58 support zone and intraday bias remains neutral first. Further decline is expected as long as 1.0614 resistance holds. On the downside, sustained break of 1.0339/48 will resume larger down trend. Next target is long term projection level at 1.0090. On the upside, above 1.0614 will turn bias back to the upside for 1.0786 resistance instead.

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) 1.1415; (P) 1.1449; (R1) 1.1486; More…

Focus stays on 1.1482 resistance in EUR/USD. A medium term bottom could be in place at 1.1120, on bullish convergence condition in daily MACD. Break of 1.1482 resistance will target 38.2% retracement of 1.2348 to 1.1120 at 1.1589 next. Sustained break there will argue that whole fall from 1.2348 has completed too and target 61.8% retracement at 1.1879. On the downside, break of 1.1329 minor support will mix up the outlook and turn intraday bias neutral first.

In the bigger picture, the decline from 1.2348 (2021 high) is seen as a leg inside the range pattern from 1.2555 (2018 high). Sustained trading above 55 week EMA (now at 1.1613) will argue that it has completed and stronger rise would be seen back towards top of the range between 1.2348 and 1.2555. However, 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.

Daily Pivots: (S1) 1.0870; (P) 1.0908; (R1) 1.0960; More…

Intraday bias in EUR/USD stays neutral first as today’s dip is contained by 1.0854 minor support so far. On the downside, break of 1.0854 will bring retest of 1.0764 low first. Break there will resume larger fall from 1.1274 to 1.0609/34 cluster support next. On the upside, however, break of 1.0944 resistance will argue that the corrective fall from 1.1274 has completed with three waves down to 1.0764. Further rally would then be seen to 1.1064 resistance for confirmation.

In the bigger picture, fall from 1.1274 medium term top is seen as a correction to up trend from 0.9534 (2022 low). Deeper decline would be seen to 1.0634 cluster support (38.2% retracement of 0.9534 to 1.1274 at 1.0609). Strong support could be seen there, at least on first attempt, to bring rebound. Yet, medium term outlook will be neutral for now, as long as 1.1274 resistance holds.

Daily Pivots: (S1) 0.9816; (P) 0.9906; (R1) 0.9976; More…

Intraday bias in EUR/USD stays neutral at this point. On the downside, break of 0.9734 minor support will suggest rejection by 55 day EMA, and medium term falling channel. Bias will be turned back to the downside for retesting 0.9534 low and then resume down trend. Nevertheless, considering bullish convergence condition in daily MACD, sustained break of 55 day EMA (now at 1.0019) will raise the chance of medium term bottoming at 0.9534. Further rally should then be seen to 38.2% retracement of 1.1494 to 0.9534 at 1.0283.

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 1.0197 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound.

Daily Pivots: (S1) 1.1417; (P) 1.1466; (R1) 1.1496; More…..

Intraday bias in EUR/USD remains neutral at this point. With 1.1407 minor support intact, further rise is in favor. Rise from 1.1289 is seen as another rising leg in the correction pattern from 1.1215. Above 1.1514 will target 1.1569 resistance and above. On the downside, break of 1.1407 minor support will turn bias back to the downside for 1.1289 support instead.

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) 1.1707; (P) 1.1758; (R1) 1.1783; More…..

Intraday bias in EUR/USD is turned neutral with 4 hour MACD crossed below signal line. Some consolidations could be seen but further rise is in favor as long as 1.1695 minor support holds. Corrective pull back from 1.2011 should have completed at 1.1612. Break of 1.1807 will target a test on 1.2011 high. However, on the downside, below 1.1695 minor support will turn bias to the downside for 1.1612 support. Break will 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) 1.1723; (P) 1.1735; (R1) 1.1747; More..

EUR/USD rebounds notably today and immediate focus is now on 1.1768 minor resistance. Firm break there will confirm short term bottoming and bring stronger rise to 1.1907 resistance. As by then, EUR/USD should have draw strong support from support from 1.1602/1703 support zone. Firm break of 1.1907 should indicate near term bullish reversal. Nevertheless, on the downside, sustained break of 1.1602 will argue that it’s already reversing the trend from 1.1603, and target 61.8% retracement of 1.1603 to 1.2348 at 1.1289.

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) 1.0485; (P) 1.0584; (R1) 1.0648; More…

EUR/USD recovered ahead of 1.0481 resistance turned support but stays below 1.0733 resistance. Intraday bias remains neutral at this point. On the downside, break of 1.0481 will confirm short term topping, on bearish divergence condition in 4 hour MACD. Deeper fall would be seen back to 1.0289 support and below. On the upside, however, firm break of 61.8% projection of 0.9729 to 1.0481 from 1.0289 at 1.0754 will pave the way to 100% projection at 1.1041.

In the bigger picture, focus stays on 38.2% retracement of 1.2348 (2021 high) to 0.9534 at 1.0609. Rejection by 1.0609 will suggest that price actions from 0.9534 medium term bottom are developing into a corrective pattern. Thus, medium bearishness is retained for another fall through 0.9534 at a later stage. However, sustained break of 1.0609 will raise the chance of trend reversal and target 61.8% retracement at 1.1273.

Daily Pivots: (S1) 1.0544; (P) 1.0587 (R1) 1.0669; More…

EUR/USD is still bounded in consolidation from 1.0470 and intraday bias remains neutral. Another recovery could still be seen. But upside should be limited by 1.0756 support turned resistance to bring fall resumption. Break of 1.0470 will resume larger down trend and target 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) 1.0382; (P) 1.0434 (R1) 1.0470; More…

Intraday bias in EUR/USD remains neutral for the moment. Risk stays on the downside as long as 1.0786 resistance holds. Below 1.0396 will target 1.0339 long term support. Decisive break there 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) 1.0491; (P) 1.0548 (R1) 1.0627; More…

Intraday bias in EUR/USD remains neutral as range trading continues. Further fall is in favor with 1.0786 resistance intact. On the downside, 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) 1.0476; (P) 1.0528 (R1) 1.0574; More…

Sideway trading continues in EUR/USD and intraday bias remains neutral. Further fall is in favor with 1.0786 resistance intact. On the downside, 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) 1.0135; (P) 1.0204; (R1) 1.0252; More…

EUR/USD’s rebound from 0.9951 resumes after brief retreat. Intraday bias is back on the upside for 1.0348 1.0348 support turned resistance, and then channel resistance at 1.0514. Nevertheless, break of 1.0118 minor support will argue that larger down trend is ready to resume, and should bring retest of 0.9951 low first.

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) 1.1582; (P) 1.1709 (R1) 1.1779; More…

EUR/USD dives to as low as 1.1624 so far today. The break of 1.1669 support confirms resumption of whole fall from 1.2091. Intraday bias is back on the downside for 38.2% retracement of 1.0569 to 1.2091 at 1.1510 next. At this point, such decline is still viewed as a correction. Hence, we’d expect strong support from 1.1510 to bring rebound, at least during first attempt. However, firm break there will bring deeper decline to 61.8% retracement at 1.1150. On the upside, above 1.1724 support turned resistance will turn intraday bias neutral first. But near term outlook will remain bearish as long as 1.1879 resistance holds.

In the bigger picture, rise from medium term bottom at 1.0339 is not finished yet. It’s expected to continue after pull back from 1.2091 completes. And, next target will be 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. However, it should be noted that there is no confirmation of trend reversal yet. That is, such rebound from 1.0399 could be a correction. And the long term fall from 1.6039 (2008 high) could resume. Hence, we’d be cautious on strong resistance from 1.2516 to limit upside.

Daily Pivots: (S1) 1.0645; (P) 1.0683; (R1) 1.0712; More…

EUR/USD’s corrective fall from 1.1032 resumed by breaking through 1.0654. Intraday bias is back on the downside for 38.2% retracement of 0.9534 to 1.1032 at 1.0463. Strong support should be seen around there to bring rebound, at least on first attempt. But break of 1.0803 is need to indicate completion of the correction. Otherwise, risk will stay on the downside in case of recovery.

In the bigger picture, the rally from 0.9534 low (2022 low) is a medium term up trend rather than a correction. Further rise 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.

EUR/USD’s fall from 1.0905 extended to as low as 1.0580 last week. The development affirmed the case that corrective rise from 1.0339 is finished after being rejected by 55 week EMA. And, the larger down trend is likely ready to resume. Deeper fall is expected in near term and break of 1.0494 support should confirm this bearish case.

Initial bias in EUR/USD remains on the downside this week for 1.0494 support. Break should confirm completion of the corrective rise from 1.0339. And, larger down trend is likely resuming in this case. Break of 1.0339 will confirm down trend resumption and target 100% projection of 1.1298 to 1.0339 from 1.0905 at 0.9946. On the upside, break of 1.0688 resistance will delay the bearish case and turn focus back to 1.0905 resistance instead.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate term reversal. this would also be supported by sustained trading above 55 week EMA.

In the long term picture, the down trend from 1.6039 (2008 high) is still in progress and there is no clear sign of completion. We’d expect more downside towards 0.8223 (2000 low) as long as 1.1298 resistance holds. However, firm break of 1.1298 should now confirm long term reversal.

Daily Pivots: (S1) 1.2174; (P) 1.2200; (R1) 1.2237; More…

EUR/USD drops mildly today but intraday bias remains neutral first. On the upside, above 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) 1.1174; (P) 1.1202; (R1) 1.1243; More…

No change in EUR/USD’s outlook and intraday bias remains neutral first. With 1.1282 intact, further decline is expected. Break of 1.1133 minor support will turn intraday bias back to the downside for 1.1026. Break of 1.1026 will extend the downtrend from 1.2555. Though, break of 1.1282 will turn focus back to 1.1412 resistance next.

In the bigger picture, current development suggests that down trend from 1.2555 (2018) 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.