Mon, Dec 09, 2019 @ 01:49 GMT

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0823; (P) 1.0863 (R1) 1.0906; More….

With 1.0777 minor support intact, intraday bias remains on the upside for further rally. Rise form 1.0339 is in progress and would extend higher towards 1.1298 resistance. But still, such rally is seen as a corrective move. Hence, we’d pay attention to topping signal above 1.0905 and below 1.1298 key resistance. On the downside, below 1.0777 minor support will turn bias to the downside for 1.0569 support first.

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.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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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

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2335; (P) 1.2383 (R1) 1.2431; More….

EUR/USD’s consolidation from 1.2537 is still in progress and intraday bias remains neutral. As long as 1.2222 support holds, near term outlook remains bullish. On the upside, sustained break of 1.2494/2516 resistance zone will extend recent rally to 100% projection of 1.0569 to 1.2091 from 1.1553 at 1.3075 next. However, break of 1.2222 will indicate rejection from 1.2494/2516, on bearish divergence condition in 4 hour MACD, and turn near term outlook bearish for 1.1915 support first.

In the bigger picture, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. But key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 is looking vulnerable. Sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862. Nonetheless, rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2001; (P) 1.2046 (R1) 1.2079; More

EUR/USD’s retreat from 1.2091 temporary top extends lower today. And intraday bias stays neutral for more corrective trading. Overall, outlook remains bullish as long as 1.1822 support holds. Above 1.2091 will extend larger rise fro 1.0339 and target next key fibonacci level at 1.2516. But considering bearish divergence condition in 4 hour MACD, break of 1.1822 will confirm short term topping and bring deeper fall back to 1.1661 support and below.

In the bigger picture, rise from medium term bottom at 1.0339 is still in progress for 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 fro 1.6039 (2008 high) could resume. Hence, we’d be cautious on strong resistance from 1.2516 to limit upside. But after all, break of 1.1661 is needed to indicate medium term topping. Otherwise, outlook will remain bullish in case of pull back.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2244; (P) 1.2275 (R1) 1.2328; More….

Intraday bias in EUR/USD remains on the upside as medium term rally continues. The pair should target next key fibonacci cluster level at 1.2494/2516. We’d expect strong resistance from there to bring reversal. On the downside, break of 1.2164 support will argue that EUR/USD has topped earlier than expected. In that case, intraday bias will be turned to the downside for 1.1915 support first.

In the bigger picture, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Therefore, in case of further rally, we’d be expect 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 to limit upside and bring reversal. That is also close to 61.8% projection of 1.0569 to 1.2091 from 1.1553 at 1.2494. Break of 1.1553 support will confirm completion of the rise. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1574; (P) 1.1632 (R1) 1.1666; More

EUR/USD dips mildly today but it’s staying above 1.1574 support. Intraday bias remains neutral and more consolidation could be seen. But after all, break of 1.1879 resistance is needed to confirm completion of the decline from 1.2091. Otherwise, near term outlook will stay bearish. Below 1.1574 will target 38.2% retracement of 1.0569 to 1.2091 at 1.1510.

In the bigger picture, rise from 1.0339 medium term bottom is seen as a corrective move for the moment. Therefore, in case of another rally, we’d be cautious on 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 to limit upside and bring reversal. Meanwhile, sustained trading below 55 week EMA will suggest that such medium term rebound is completed and could then bring retest of 1.0339 low.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1922; (P) 1.1945 (R1) 1.1977; More

Breach of 1.1994 minor resistance argues that pull back from 1.2091 has completed. Intraday bias is turned to the upside for 1.2091 first. Break will extend larger rise from 1.0339 and target next key fibonacci level at 1.2516. In any case, outlook will remain bullish as long as 1.1822 support holds. But considering bearish divergence condition in 4 hour MACD, break of 1.1822 will confirm short term topping and bring deeper fall back to 1.1661 support and below.

In the bigger picture, rise from medium term bottom at 1.0339 is still in progress for 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 fro 1.6039 (2008 high) could resume. Hence, we’d be cautious on strong resistance from 1.2516 to limit upside. But after all, break of 1.1661 is needed to indicate medium term topping. Otherwise, outlook will remain bullish in case of pull back.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1775; (P) 1.1810 (R1) 1.1835; More

EUR/USD’s rally is still in progress and intraday bias stays on the upside. Current rise 1.0339 should target 1.2 handle next. Firm break there will pave the way to next key fibonacci level at 1.2516. On the downside, below 1.1722 minor support will turn intraday bias neutral and bring consolidation before staying another rally.

In the bigger picture, an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Sustained break of 55 month EMA (now at 1.1760) will pave the way to key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. While rise from 1.0339 is strong, there is no confirmation that it’s developing into a long term up trend yet. Hence, we’ll be cautious on strong resistance from 1.2516 to limit upside. But for now, medium term outlook will remain bullish as long as 1.1295 support holds, in case of pull back.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1935; (P) 1.1956 (R1) 1.1987; More

EUR/USD is staying in consolidation below 1.2091 and intraday bias remains neutral first. Overall, outlook remains bullish as long as 1.1822 support holds. Above 1.2091 will extend larger rise from 1.0339 and target next key fibonacci level at 1.2516. But considering bearish divergence condition in 4 hour MACD, break of 1.1822 will confirm short term topping and bring deeper fall back to 1.1661 support and below.

In the bigger picture, rise from medium term bottom at 1.0339 is still in progress for 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 fro 1.6039 (2008 high) could resume. Hence, we’d be cautious on strong resistance from 1.2516 to limit upside. But after all, break of 1.1661 is needed to indicate medium term topping. Otherwise, outlook will remain bullish in case of pull back.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2326; (P) 1.2370 (R1) 1.2452; More….

With 1.2322 minor support intact, intraday bias in EUR/USD remains on the upside. Current rally should target next key fibonacci cluster level at 1.2494/2516. At this point, we’d still expect strong resistance from there to limit upside and bring reversal. On the downside, below 1.2322 minor support will turn intraday bias neutral first.

In the bigger picture, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Therefore, in case of further rally, we’d be expect 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 to limit upside and bring reversal. That is also close to 61.8% projection of 1.0569 to 1.2091 from 1.1553 at 1.2494. Break of 1.1553 support will confirm completion of the rise. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0865; (P) 1.0900 (R1) 1.0919; More….

EUR/USD recovers strongly today after being supported above 4 hour 55 EMA. But it’s staying below 1.0949 temporary low. Intraday bias remains neutral for the moment. At this point, further rise is still in favor as long as 1.0851 minor support holds. However, choppy rebound from 1.0339 is seen as a correction. Hence we’d look for topping again on next rise. Meanwhile, on the downside, break of 1.0777 will turn turn bias to the downside for 1.0851 support first.

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.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1141; (P) 1.1154 (R1) 1.1182; More….

Intraday bias in EUR/USD remains neutral as it’s still bounded in range of 1.1109/1295. On the upside, 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 1.0932). 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

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0646; (P) 1.0662 (R1) 1.0688; More….

Intraday bias in EUR/USD remains neutral for consolidation above 1.0635 temporary low. Recovery should be limited by 1.0772 resistance and bring another fall. As noted before, corrective rise from 1.0339 is completed at 1.0905. And more importantly, larger down trend is probably resuming. Below 1.0635 will turn bias back to the downside for 1.0494. Break will confirm this bearish case and target 1.0339 low. However, above 1.0772 will delay this bearish case and bring another rise back to 1.0905 first.

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.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.2315; (P) 1.2374 (R1) 1.2436; More….

EUR/USD is still staying in consolidation below 1.2537 and intraday bias remains neutral. As long as 1.2222 support holds, further rise is in favor. Sustained break of 1.2494/2516 will target 100% projection of 1.0569 to 1.2091 from 1.1553 at 1.3075 next. However, break of 1.2222 will indicate rejection from 1.2494/2516, on bearish divergence condition in 4 hour MACD, and turn near term outlook bearish for 1.1915 support first.

In the bigger picture, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. But key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 is looking vulnerable. Sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862. Nonetheless, rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1806; (P) 1.1863 (R1) 1.1899; More….

EUR/USD’s pull back from 1.1960 extends lower but it’s kept well above 1.1712 support so far. As long as 1.1712 support holds, rise from 1.1553 is expected to continue. Above 1.1960 will target 1.2091 high first. Break there will resume medium term up trend from 1.0339 and target 61.8% projection of 1.0569 to 1.2091 from 1.1553 at 1.2494, which is close to 1.2516 long term fibonacci level. We’d expect strong resistance from there to bring reversal. On the downside, break of 1.1712 will indicate completion of the rise from 1.1553 and turn near term outlook bearish.

In the bigger picture, rise from 1.0339 medium term bottom is seen as a corrective move for the moment. Therefore, in case of another rally, we’d be expect 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 to limit upside and bring reversal. Meanwhile, sustained trading below 55 week EMA (now at 1.1393) will suggest that such medium term rebound is completed and could then bring retest of 1.0339 low.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1792; (P) 1.1834 (R1) 1.1868; More….

EUR/USD’s pull back from 1.1960 continues today but it’s staying well above 1.1712 support so far. Intraday bias remains neutral first and another rise is still mildly in favor. On the upside, break of 1.1960 will resume the rise from 1.1553 and target 1.2091 high first. Break there will resume medium term up trend from 1.0339 and target 61.8% projection of 1.0569 to 1.2091 from 1.1553 at 1.2494, which is close to 1.2516 long term fibonacci level. We’d expect strong resistance from there to bring reversal. On the downside, break of 1.1712 will indicate completion of the rise from 1.1553 and turn near term outlook bearish.

In the bigger picture, rise from 1.0339 medium term bottom is seen as a corrective move for the moment. Therefore, in case of another rally, we’d be expect 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 to limit upside and bring reversal. Meanwhile, sustained trading below 55 week EMA (now at 1.1393) will suggest that such medium term rebound is completed and could then bring retest of 1.0339 low.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2315; (P) 1.2374 (R1) 1.2436; More….

EUR/USD weakens mildly in early US session. But after all, it’s staying in consolidation pattern from 1.2537 and intraday bias remains neutral. As long as 1.2222 support holds, further rise is in favor. Sustained break of 1.2494/2516 will target 100% projection of 1.0569 to 1.2091 from 1.1553 at 1.3075 next. However, break of 1.2222 will indicate rejection from 1.2494/2516, on bearish divergence condition in 4 hour MACD, and turn near term outlook bearish for 1.1915 support first.

In the bigger picture, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. But key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 is looking vulnerable. Sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862. Nonetheless, rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1577; (P) 1.1594 (R1) 1.1610; More

Intraday bias in EUR/USD is turned neutral first with current recovery. Overall, with 1.1689 resistance intact, fall from 1.2091 is in progress for 38.2% retracement of 1.0569 to 1.2091 at 1.1510. We’d be cautious on strong support from there to bring rebound. But sustained break of 1.1510 will pave the way to next support zone at 1.1118/1267. On the upside, break of 1.1689 resistance is needed to confirm short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, rise from 1.0339 medium term bottom is seen as a corrective move for the moment. Therefore, in case of another rally, we’d be cautious on 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 to limit upside and bring reversal. Meanwhile, sustained trading below 55 week EMA will suggest that such medium term rebound is completed and could then bring retest of 1.0339 low.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0528; (P) 1.0572 (R1) 1.0619; More…..

EUR/USD extends the post-ECB rally today and breaches 1.0630 resistance again. The development suggests that pull back from 1.0828 has completed at 1.0493 already. More importantly, corrective rise from 1.0339 is possibly still in progress for another rising leg. Intraday bias is mildly on the upside for 1.0678 resistance first. Break will send EUR/USD through 1.0828 resistance.

In the bigger picture, whole down trend from 1.6039 (2008 high) is in progress. Such down trend is expected to extend to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. On the upside, break of 1.1298 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1834; (P) 1.1863 (R1) 1.1897; More

EUR/USD is staying in consolidation below 1.1908 temporary top. Intraday bias stays neutral at this point. Another rise is expected as long as 1.1722 support holds. Above 1.1908 will target 1.2 psychological level. Considering bearish divergence condition in 4 hour MACD, we’ll be cautious on topping around there to bring correction. On the downside, break of 1.1722 will indicate short term topping and bring deeper pull back to 55 day EMA (now at 1.1414).

In the bigger picture, an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Sustained break of 55 month EMA (now at 1.1760) will pave the way to key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. While rise from 1.0339 is strong, there is no confirmation that it’s developing into a long term up trend yet. Hence, we’ll be cautious on strong resistance from 1.2516 to limit upside. But for now, medium term outlook will remain bullish as long as 1.1295 support holds, in case of pull back.

EUR/USD 4 Hours Chart

EUR/USD Daily Chart

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