Daily Pivots: (S1) 1.1180; (P) 1.1234; (R1) 1.1266; More……

EUR/USD recovers mildly today but stays below 1.1268 minor resistance. Intraday bias stays on the downside and further fall could be seen to 1.1107 low. We’d be cautious on strong support from there to bring rebound. On the upside, above 1.1268 minor resistance will turn bias back to the upside for 1.1347 again.

In the bigger picture, considering bullish convergence condition in daily and weekly MACD, a medium term bottom could be in place at 1.1107 after hitting 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186. Hence, for now, risk will stay on the upside as long as 1.1107 low holds. Break of 1.12347 will extend the rebound towards 38.2% retracement of 1.2555 to 1.1107 at 1.1660. However, sustained break of 1.1107 will confirm resumption of down trend from 1.2555.

Daily Pivots: (S1) 0.9930; (P) 0.9964; (R1) 1.0001; 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) 1.2099; (P) 1.2114; (R1) 1.2135; More…

EUR/USD’s fall from 1.2265 is still in progress for 1.1985 support. Break there will confirm that consolidation pattern from 1.2348 has started the third leg. Deeper fall would then be seen back to 1.1703 support. On the upside, above 1.2217 minor resistance will turn bias back to the upside for 1.2265 and above.

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) 1.1074; (P) 1.1109; (R1) 1.1159; More…

Intraday bias in EUR/USD remains on the downside for the moment. Current fall is part of the down trend from 1.2348. Next target is 61.8% projection of 1.2265 to 1.1120 from 1.1494 at 1.0786. On the upside, break of 1.1273 resistance is needed to be the first sign of bottoming. Otherwise, outlook stays bearish in case of recovery.

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 extend range trading first.

Daily Pivots: (S1) 1.1339; (P) 1.1356; (R1) 1.1377; More…..

EUR/USD continues to lose downside momentum as seen in 4 hour MACD. But further decline is expected with 1.1391 minor resistance intact, to 1.1307 support. The corrective rise from 1.1215 should have completed at 1.1569. Break of 1.1307 should resume larger down trend through 1.1215 low. On the upside, above 1.1391 minor resistance will turn intraday bias neutral again.

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) 1.0684; (P) 1.0703; (R1) 1.0731; More…

Intraday bias in EUR/USD stays neutral as sideway trading continues. 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 to 55 D EMA (now at 1.0820).

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) 1.1566; (P) 1.1605; (R1) 1.1644; More…..

Intraday bias in EUR/USD remains neutral at this point and outlook is unchanged. Rebound from 1.1300 could extend with another rise. But upside should be limited by 38.2% retracement of 1.2555 to 1.1300 at 1.1779, at least on first attempt. On the downside, break of 1.1525 will indicate completion of the rebound and turn bias to the downside for retesting 1.1300 low. Overall, price actions from 1.1300 are forming a corrective pattern, that could extend for a while before completion.

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) 1.1764; (P) 1.1807; (R1) 1.1830; More…..

Intraday bias in EUR/USD stays neutral as sideway trading continues. As long as 1.1711 support holds, further rise is mildly in favor. 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 1.1561).

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) 1.1133; (P) 1.1152; (R1) 1.1189; More…

EUR/USD is losing some upside momentum but intraday bias stays on the upside with 1.1114 minor support intact. Current rise from 1.0879 is in progress for 1.1412 key resistance next. On the downside, below 1.1114 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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) 1.1312; (P) 1.1338; (R1) 1.1387; More…

No change in EUR/USD’s outlook as range trading continues. On the upside, sustained trading above 55 day EMA (now at 1.1385) will bring stronger rise back to 1.1663 support turned resistance. On the downside, break of 1.1185 will resume larger decline from 1.2348. Next target is 161.8% projection of 1.2265 to 1.1663 from 1.1908 at 1.0934.

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) 1.1012; (P) 1.1026; (R1) 1.1044; More…

Intraday bias in EUR/USD remains neutral first. Upside of recovery should be limited by 1.1085 support turned resistance. On the downside, decisive break of 1.0981 support should confirm completion of corrective rise from 1.0879 at 1.1239. Further fall should then be seen to retest 1.0879 low.

In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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) 1.1252; (P) 1.1312; (R1) 1.1343; More….

EUR/USD’s sharp retreat dampens the original bullish case and intraday bias is turned neutral first. On the upside, above 1.1370 will target 1.1422 high. Break will resume larger rise form 1.0635 to 1.1496 key resistance. However, on the downside, break of 1.1258 minor support will turn bias back to the downside, to extend the consolidation to 38.2% retracement of 1.0635 to 1.1422 at 1.1121.

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) 1.0623; (P) 1.0661; (R1) 1.0683; More…

Outlook in EUR/USD remains unchanged. Intraday bias remains neutral and further decline is in favor with 1.0803 resistance intact. On the downside, break of 1.0610 will resume the corrective fall from 1.1032 and 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.

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.

Daily Pivots: (S1) 1.1631; (P) 1.1648 (R1) 1.1675; More…..

Intraday bias in EUR/USD remains neutral as sideway consolidation from 1.1509 is still in progress. In case of another 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) 1.0949; (P) 1.0995; (R1) 1.1056; More…

Range trading continues in EUR/USD and intraday bias stays neutral. On the downside, break of 1.0911 will resume the decline from 1.1274 to 1.0832 support. Sustained trading below there will target 1.0609/34 cluster support. However, firm break of 1.1046 minor resistance will argue that pull back from 1.1274 has completed, and bring stronger rebound.

In the bigger picture, a medium term top could be formed at 1.1274, after failing to break through 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 decisively, on bearish divergence condition in D MACD. Sustained trading below 55 D EMA (now at 1.0966) will bring deeper correction 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 set the range for consolidation.

Daily Pivots: (S1) 1.0513; (P) 1.0556; (R1) 1.0630; More…

EUR/USD is staying in consolidation from 1.0447 and intraday bias remains neutral at this point. On the upside, firm break of 1.0616 resistance will confirm short term bottoming, and turn bias back to the upside for stronger rebound. Nevertheless, rejection by 1.0616 will retain near term bearishness. Break of 1.0447 will resume the fall from 1.1274 to 1.0199 fibonacci level next.

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 1.0730) holds, in case of rebound.

Daily Pivots: (S1) 1.0135; (P) 1.0204; (R1) 1.0252; More…

EUR/USD quickly retreated after edging 1.0277 and intraday bias is turned neutral again. On the upside, above 1.0277 will resume the rebound from 0.9951 to 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) 1.1250; (P) 1.1268; (R1) 1.1280; More…..

With sharp retreat and 4 hour MACD crossed below signal line, intraday bias in EUR/USD is turned neutral first. ON the upside, above 1.1286 will extend the rise from 1.1183 for 55 day EMA (now at 1.1309) first. Break will target 1.1448 resistance next. For now, we’d expect strong resistance between 1.1448/1569 to limit upside. On the downside, decisive break of 1.1176 will resume the down trend from 1.2555.

In the bigger picture, medium term weakness was revived as the weak rebound from 1.1176 was rejected well below 55 week EMA and failed to sustain above 55 day EMA. Focus is back on 1.1176 low, with 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186. Decisive break there will resume whole down trend from 1.2555. Such decline target 1.0339 low next. On the upside, firm break of 1.1569 resistance is needed to be the first sign of medium term bottoming. Otherwise, downside breakout will be in favor.

Daily Pivots: (S1) 1.1296; (P) 1.1321; (R1) 1.1350; More…

Outlook is EUR/USD is unchanged and intraday bias remains neutral first. Price action from 1.1185 are seen as corrective move. Break of 1.1284 will argue that larger down trend from 1.2348 is ready to resume. Intraday bias will be back on the downside for retesting 1.1185 low first. Also, in case of another rise, upside should be limited by 38.2% retracement of 1.2265 to 1.1185 at 1.1598 eventually.

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) 1.0702; (P) 1.0771; (R1) 1.0828; More…

EUR/USD is gyrating in tight range today and intraday bias remains neutral. 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 1.0742) 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).