Sun, Jul 05, 2020 @ 06:54 GMT

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0919; (P) 1.0957; (R1) 1.1022; More

Intraday bias in EUR/USD remains neutral first. On the upside, break of 1.1008 resistance will extend the corrective pattern from 1.0635 with another rise towards 1.1147 resistance. But upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0870 minor support will turn bias to the downside and target a test on 1.0635 low.

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.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0873; (P) 1.0894; (R1) 1.0917; More

Intraday bias in EUR/USD remains neutral but focus is on 1.1008 resistance with today’s rebound. Break will extend the corrective pattern from 1.0635 with another rise towards 1.1147 resistance. But upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0870 minor support will turn bias to the downside and target a test on 1.0635 low.

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.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0873; (P) 1.0894; (R1) 1.0917; More

EUR/USD still staying in consolidation from 1.0635 and intraday bias remains neutral. Above 1.1008 will bring stronger rise towards 1.1147 resistance. But upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0774 will target a test on 1.0635 low.

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.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0875; (P) 1.0914; (R1) 1.0943; More

Intraday bias in EUR/USD remains neutral and outlook is unchanged. On the downside, break of 1.0774 will target a test on 1.0635 low. On the upside, above 1.1008 will stronger rebound to 1.1147 resistance. After all, price actions from 1.0635 are seen as a consolidation pattern. Upside be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167.

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.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0875; (P) 1.0914; (R1) 1.0943; More

Intraday bias in EUR/USD remains neutral first. On the downside, break of 1.0774 will target a test on 1.0635 low. On the upside, above 1.1008 will stronger rebound to 1.1147 resistance. After all, price actions from 1.0635 are seen as a consolidation pattern. Upside be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167.

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.

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EUR/USD Weekly Outlook

EUR/USD stayed in consolidation from 1.0635 last week and outlook is unchanged. Initial bias remains neutral this week first. On the upside, above 1.1008 will bring another rise. But upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0774 will target a test on 1.0635 low.

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.

In the long term picture, outlook remains bearish for now. EUR/USD is held below decade long trend line that started from 1.6039 (2008 high). It was also rejected by 38.2% retracement of 1.6039 to 1.0339 at 1.2516 before. On break of 1.0339, next target will be 100% projection of 1.3993 to 1.0339 from 1.2555 at 0.8901.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0922; (P) 1.0965; (R1) 1.0993; More

EUR/USD is staying in range of 1.0774/1008 and intraday bias remains neutral at this point. Outlook is unchanged that corrective pattern from 1.0635 is in place. On the upside, above 1.1008 will target 1.1147 resistance. Upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0774 should turn bias back to the downside for retesting 1.0635 low.

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.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0922; (P) 1.0965; (R1) 1.0993; More

EUR/USD retreats again after hitting 1.1008 and intraday bias is turned neutral. Outlook is unchanged that corrective pattern from 1.0635 is in place. On the upside, above 1.1008 will target 1.1147 resistance. Upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0774 should turn bias back to the downside for retesting 1.0635 low.

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.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0932; (P) 1.0966; (R1) 1.1012; More

EUR/USD’s rise resumed after brief retreat and intraday bias is back on the upside. Corrective pattern from 1.0635 is in another rising leg. Break of 1.1019 will target 1.1147 resistance. Upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0774 should turn bias back to the downside for retesting 1.0635 low.

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.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0932; (P) 1.0966; (R1) 1.1012; More

EUR/USD lost momentum after hitting 1.0999, with 4 hour MACD crossed below signal line. Intraday bias is turned neutral first. Outlook is unchanged that corrective pattern from 1.0635 is extending. Further rise might be seen through 1.1019 resistance to 1.1147. But in that case, upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0774 should turn bias back to the downside for retesting 1.0635 low.

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.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0892; (P) 1.0934; (R1) 1.0966; More

EUR/USD’s rise from 1.0774 is still in progress and intraday bias remains on the upside. Corrective pattern from 1.0635 is in another rising leg. Further rally could be seen to 1.1019 resistance and above. But still, upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0774 should turn bias back to the downside for retesting 1.0635 low.

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.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0892; (P) 1.0934; (R1) 1.0966; More

Intraday bias in EUR/USD remains mildly on the upside at this point. Corrective pattern from 1.0635 is in another rising leg. Further rise could be seen to 1.1019 resistance and above. But still, upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0774 should turn bias back to the downside for retesting 1.0635 low.

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.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0836; (P) 1.0881; (R1) 1.0963; More

Intraday bias in EUR/USD remains mildly on the upside at this point. Corrective pattern from 1.0635 is in another rising leg. Further rise could be seen to 1.1019 resistance and above. But still, upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0774 should turn bias back to the downside for retesting 1.0635 low.

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.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0836; (P) 1.0881; (R1) 1.0963; More

Intraday bias in EUR/USD is turned to the upside with break of 1.0895 minor resistance. Further rise would be seen to 1.1019 and above as corrective pattern from 1.0635 extends with another up leg. But still, upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0774 should turn bias back to the downside for retesting 1.0635 low.

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.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0789; (P) 1.0820; (R1) 1.0850; More

EUR/USD recovers today but stays below 1.0895 minor resistance. Intraday bias remains neutral first. Outlook is unchanged and corrective pattern from 1.0635 could extend further. On the upside, above 1.0895 minor resistance will turn bias to the upside for 1.1019 resistance. But overall, upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0727 will target a test on 1.0635 low.

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.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0789; (P) 1.0820; (R1) 1.0850; More

Intraday bias in EUR/USD remains neutral as range trading consolidations. Corrective pattern from 1.0635 could extend further. On the upside, above 1.0895 minor resistance will turn bias to the upside for 1.1019 resistance. But overall, upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0727 will target a test on 1.0635 low.

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.

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EUR/USD Weekly Outlook

EUR/USD stayed in tight range last week and outlook is unchanged. Initial bias remains neutral first. Corrective pattern from 1.0635 could extend further. On the upside, above 1.0895 minor resistance will turn bias to the upside for 1.1019 resistance. But overall, upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0727 will target a test on 1.0635 low.

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.

In the long term picture, outlook remains bearish for now. EUR/USD is held below decade long trend line that started from 1.6039 (2008 high). It was also rejected by 38.2% retracement of 1.6039 to 1.0339 at 1.2516 before. On break of 1.0339, next target will be 100% projection of 1.3993 to 1.0339 from 1.2555 at 0.8901.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0777; (P) 1.0800; (R1) 1.0826; More

Intraday bias in EUR/USD stays neutral at this point. Price actions from 1.0635 are seen as a corrective pattern. On the downside, break of 1.0727 support will raise the chance that the correction is completed. Intraday bias will be turned to the downside for retesting 1.0635 low. On the upside, above 1.0895 will turn bias to the upside for 1.1019 resistance to extend the pattern. But in that case, upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167.

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.

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0777; (P) 1.0800; (R1) 1.0826; More

Intraday bias in EUR/USD remains neutral first. Intraday bias remains neutral first. Price actions from 1.0635 are seen as a corrective pattern. On the downside, break of 1.0727 support will raise the chance that the correction is completed. Intraday bias will be turned to the downside for retesting 1.0635 low. On the upside, above 1.0895 will turn bias to the upside for 1.1019 resistance to extend the pattern. But in that case, upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167.

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.

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0788; (P) 1.0843; (R1) 1.0873; More

EUR/USD drops mildly today but stays in familiar range. Intraday bias remains neutral first. Price actions from 1.0635 are seen as a corrective pattern. On the downside, break of 1.0727 support will raise the chance that the correction is completed. Intraday bias will be turned to the downside for retesting 1.0635 low. On the upside, above 1.0895 will turn bias to the upside for 1.1019 resistance to extend the pattern. But in that case, upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167.

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.

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