Mon, May 23, 2022 @ 00:20 GMT

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1359; (P) 1.1392 (R1) 1.1454; More…..

Intraday bias in EUR/USD remains neutral for the moment with focus on 1.1444 resistance. Break there will resume whole rise from 1.0339 low and target 1.1615 resistance next. In case consolidation from 1.1444 extends with another fall, downside should be contained by 1.1291 resistance turned support to bring rally resumption. Meanwhile, break of 1.1291 will turn focus back to 1.1118 support instead.

In the bigger picture, the firm break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1359; (P) 1.1392 (R1) 1.1454; More…..

EUR/USD is staying in range below 1.1444 and intraday bias remains neutral first. In case of another fall, we’d expect downside to be contained by 1.1291 resistance turned support to bring rally resumption. Break of 1.1444 will extend the rise from 1.0339 low to 1.1615 resistance next. Meanwhile, break of 1.1291 will turn focus back to 1.1118 support.

In the bigger picture, the firm break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1319; (P) 1.1344 (R1) 1.1375; More…..

EUR/USD rebounds strongly after drawing support from 4 hour 55 EMA. But it’s staying in range below 1.1444 and intraday bias remains neutral first. In case of another fall, we’d expect downside to be contained by 1.1291 resistance turned support to bring rally resumption. Break of 1.1444 will extend the rise from 1.0339 low to 1.1615 resistance next. Meanwhile, break of 1.1291 will turn focus back to 1.1118 support.

In the bigger picture, the firm break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1319; (P) 1.1344 (R1) 1.1375; More…..

Intraday bias in EUR/USD remains neutral as consolidation from 1.1444 is still in progress. We’d expect downside to be contained by 1.1291 resistance turned support to bring rally resumption. Break of 1.1444 will extend the rise from 1.0339 low to 1.1615 resistance next. Meanwhile, break of 1.1291 will turn focus back to 1.1118 support.

In the bigger picture, the firm break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1327; (P) 1.1352 (R1) 1.1368; More…..

EUR/USD’s pull back from 1.1444 extends lower today. But still, it’s seen as a corrective move and the pair is staying above 1.1291 support. Intraday bias remains neutral first. Break of 1.1444 will extend the rally from 1.0339 low to 1.1615 resistance next. Meanwhile, break of 1.1291 will turn focus back to 1.1118 support.

In the bigger picture, the firm break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1327; (P) 1.1352 (R1) 1.1368; More…..

EUR/USD is staying in consolidation from 1.1444 and intraday bias remains neutral for the moment. Downside of retreat should be contained by 1.1291 support to bring rise resumption. Break of 1.1444 will extend the rally from 1.0339 low to 1.1615 resistance next.

In the bigger picture, the firm break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1336; (P) 1.1381 (R1) 1.1408; More…..

EUR/USD’s retreat from 1.1444 extends lower but it’s staying above 1.1291 support. Intraday bias remains neutral first. More consolidative trading could be seen. But downside should be contained by 1.1291 support to bring rise resumption. Break of 1.1444 will extend the rally from 1.0339 low to 1.1615 resistance next.

In the bigger picture, the firm break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1394; (P) 1.1419 (R1) 1.1447; More…..

EUR/USD’s retreat from 1.1444 is still in progress and intraday bias remains neutral. Deeper fall cannot be ruled out. But downside should be contained by 1.1291 support to bring another rise. Break of 1.1444 will extend the rally from 1.0339 low to 1.1615 resistance next.

In the bigger picture, the firm break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1394; (P) 1.1419 (R1) 1.1447; More…..

Intraday bias in EUR/USD remains neutral for consolidation below 1.1444 temporary top. Downside of retreat should be contained by 1.1291 support to bring another rise. Break of 1.1444 will extend the rally from 1.0339 low to 1.1615 resistance next.

In the bigger picture, the firm break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Weekly Outlook

EUR/USD’s rally resumed last week and powered through 1.1298 resistance to as high as 1.1444. With a temporary top in place, initial bias is neutral this week for consolidation. But downside of retreat should be contained by 1.1291 support to bring another rise. Break of 1.1444 will extend the rally from 1.0339 low to 1.1615 resistance next.

In the bigger picture, the firm break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.

In the long term picture, 1.0339 is now seen as an important bottom as the down trend from 1.6039 (2008 high) could have completed. It’s still early to decide whether price action form 1.0339 is developing into a corrective or impulsive move. But in either case, further rally would be seen to 38.2% retracement of 1.6039 to 1.0339 at 1.2516

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Weekly Chart

EUR/USD Monthly Chart

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1394; (P) 1.1419 (R1) 1.1465; More…..

A temporary top is in place at EUR/USD with 4 hour MACD crossed below signal line. Intraday bias is turned neutral for consolidation. Downside of retreat should be contained by 1.1291 minor support to bring rise resumption. Break of 1.1444 will extend the larger up trend from 1.0339 to 1.1615 medium term resistance next.

In the bigger picture, the break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition is seen in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1394; (P) 1.1419 (R1) 1.1465; More…..

Intraday bias in EUR/USD remains on the upside for the moment. Current rally from 1.0339 should target 1.1615 medium term resistance next. On the downside, below 1.1374 minor support will turn intraday bias neutral and bring retreat. But downside should be contained above 1.1118 support and bring rise resumption.

In the bigger picture, the break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition is seen in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1315; (P) 1.1352 (R1) 1.1414; More…..

Intraday bias in EUR/USD remains on the upside for the moment. Current rally from 1.0339 should target 1.1615 medium term resistance next. On the downside, below 1.1348 minor support will turn intraday bias neutral and bring retreat. But downside should be contained above 1.1118 support and bring rise resumption.

In the bigger picture, the break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition is seen in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1315; (P) 1.1352 (R1) 1.1414; More….

EUR/USD’s rally resumed after brief retreat and reaches as high as 1.1432 so far. Intraday bias is back on the upside. Current rally from 1.0339 should target 1.1615 medium term resistance next. On the downside, below 1.1348 minor support will turn intraday bias neutral and bring retreat. But downside should be contained above 1.1118 support and bring rise resumption.

In the bigger picture, the break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition is seen in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1227; (P) 1.1288 (R1) 1.1398; More….

EUR/USD surges to as high as 1.1387 today but retreats sharply since then. A temporary top should be in place and intraday bias is turned neutral for consolidation first. Downside of retreat is expected to be contained well above 1.1118 support to bring rally resumption. Above 1.1387 will extend the larger rally to 1.1615 resistance next. However, break of 1.1118 will now confirm short term topping and bring deeper pull back.

In the bigger picture, the break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition is seen in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as 1.1118 support holds.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1227; (P) 1.1288 (R1) 1.1398; More….

EUR/USD surges to as high as 1.1355 as larger rally from 1.0339 resumed. Break of 1.1298 resistance carries larger bullish implication. Intraday bias stays on the upside for 1.1615 resistance next. On the downside, below 1.1274 minor support will turn bias neutral and bring retreat. But pull back should be contained above 1.1118 support to bring rise resumption.

In the bigger picture, the break of 1.1298 resistance further affirm medium term reversal. That is an important bottom was formed at 1.0339 on bullish convergence condition is seen in weekly MACD. Further rise would be seen to 55 month EMA (now at 1.1776). Sustained break there will pave the way to 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 next. This will now remain the favored case as long as .1118 support holds.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1162; (P) 1.1190 (R1) 1.1210; More….

EUR/USD rises sharply today with focus on 1.1298 key resistance. Decisive break there will carry larger bullish implication and extend the up trend from 1.0339 to 1.1615 resistance next. On the downside, break of 1.1109 support will indicate short term topping and rejection from 1.1298. In such case, intraday bias will be turned to the downside for 1.0838 support.

In the bigger picture, the case for medium term reversal continues to build up with EUR/USD staying far above 55 week EMA (now at 1.0941). Also, bullish convergence condition is seen in weekly MACD. Focus will now be on 1.1298 key resistance. Rejection from there will maintain medium term bearishness and would extend the whole down trend from 1.6039 (2008 high). However, firm break of 1.1298 will indicate reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1162; (P) 1.1190 (R1) 1.1210; More….

Intraday bias in EUR/USD remains neutral for the moment as it’s still bounded in range of 1.1109/1295. With 1.1109 support intact, there is no indication of reversal yet. Decisive break of 1.1298 key resistance will carry larger bullish implication and target 1.1615 resistance next. On the downside, break of 1.1109 support will indicate short term topping and rejection from 1.1298. In such case, intraday bias will be turned to the downside for 1.0838 support.

In the bigger picture, the case for medium term reversal continues to build up with EUR/USD staying far above 55 week EMA (now at 1.0941). Also, bullish convergence condition is seen in weekly MACD. Focus will now be on 1.1298 key resistance. Rejection from there will maintain medium term bearishness and would extend the whole down trend from 1.6039 (2008 high). However, firm break of 1.1298 will indicate reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1156; (P) 1.1182 (R1) 1.1219; More….

The consolidation from 1.1295 is still in progress and intraday bias in EUR/USD remains neutral. With 1.1109 support intact, there is no indication of reversal yet. Decisive break of 1.1298 key resistance will carry larger bullish implication and target 1.1615 resistance next. On the downside, break of 1.1109 support will indicate short term topping and rejection from 1.1298. In such case, intraday bias will be turned to the downside for 1.0838 support.

In the bigger picture, the case for medium term reversal continues to build up with EUR/USD staying far above 55 week EMA (now at 1.0941). Also, bullish convergence condition is seen in weekly MACD. Focus will now be on 1.1298 key resistance. Rejection from there will maintain medium term bearishness and would extend the whole down trend from 1.6039 (2008 high). However, firm break of 1.1298 will indicate reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1156; (P) 1.1182 (R1) 1.1219; More….

Intraday bias in EUR/USD remains neutral as it’s still bounded in sideway trading in range of 1.1109/1295. With 1.1109 support intact, there is no indication of reversal yet. Decisive break of 1.1298 key resistance will carry larger bullish implication and target 1.1615 resistance next. On the downside, break of 1.1109 support will indicate short term topping and rejection from 1.1298. In such case, intraday bias will be turned to the downside for 1.0838 support.

In the bigger picture, the case for medium term reversal continues to build up with EUR/USD staying far above 55 week EMA (now at 1.0941). Also, bullish convergence condition is seen in weekly MACD. Focus will now be on 1.1298 key resistance. Rejection from there will maintain medium term bearishness and would extend the whole down trend from 1.6039 (2008 high). However, firm break of 1.1298 will indicate reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart