Daily Pivots: (S1) 1.2146; (P) 1.2179; (R1) 1.2233; More….

EUR/USD rises to as high as 1.2249 so far and intraday bias remains on the upside. Current rise from 1.0635 should target 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452 next. On the downside, break of 1.2058 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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. We’d be alerted to topping sign around 1.2516/55. But sustained break there will carry long term bullish implications.

Daily Pivots: (S1) 1.0871; (P) 1.0925; (R1) 1.0955; More…

Intraday bias in EUR/USD remains neutral first. Another rise is mildly in favor as long as 1.0833 minor support holds. Corrective pattern from 1.0635 is in its third leg. Above 1.1019 will target 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 1.0833 will turn bias back to the downside for 1.0727 support and then 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.

Daily Pivots: (S1) 1.1718; (P) 1.1744; (R1) 1.1771; More…..

Intraday bias in EUR/USD remains neutral first. On the upside, break of 1.1769 will argue that corrective pull back has completed. Intraday bias will be turned back to the upside for retesting 1.2011. On the downside, break of 1.1612 will extend the fall from 1.2011 short term top to 38.2% retracement of 1.0635 to 1.2011 at 1.1485 instead.

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) 1.2173; (P) 1.2207 (R1) 1.2227; More….

EUR/USD’s break of 1.2205 key support is taken as a tentative sign of trend reversal, after being rejected by 1.2516 key fibonacci level. Intraday bias is now on the downside. Sustained trading below 1.2205 will confirm and target 38.2% retracement of 1.0339 to 1.2555 at 1.1708. On the upside, above 1.2354 minor resistance will dampen this bearish case and bring retest of 1.2555 high instead.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.5553 support will add more medium term bearishness. 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 breached 1.1523 to 1.1512 last week, but quickly recovered. Initial bias is neutral this week first. Further is in favor as long as 1.1615 minor resistance holds. Break of 1.1512 will extend the pattern from 1.2348 to 61.8% projection of 1.1908 to 1.1523 from 1.1691 at 1.1453. Break will pave the way to 100% projection at 1.1306. On the upside, though, above 1.1615 minor resistance will dampen the bearish case and turn bias back to the upside for 1.1691 resistance.

In the bigger picture, price actions from 1.2348 should at least be a correction to rise from 1.0635 (2020 low). As long as 1.1908 resistance holds, deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289. Nevertheless break of 1.1908 resistance will revive medium term bullishness and turn focus back to 1.2348 high.

In the long term picture, EUR/USD has possibly failed 1.2555 cluster resistance (38.2% retracement of 1.6039 to 1.0339 at 1.2516) already. Long term outlook will remain neutral as sideway pattern from 1.0339 (2017 low) is extending with another medium term fall. For now, we’d hold back from assessing the chance of downside breakout, and monitor the momentum of the decline from 1.2348 first.

Daily Pivots: (S1) 1.0840; (P) 1.0858; (R1) 1.0875; More…

Immediate focus is now on 1.0887 resistance in EUR/USD with today’s rally. Firm break there will resume whole rise from 1.0694. Also, sustained trading above 55 D EMA (now at 1.0831) will affirm the case that fall from 1.1138 has completed. In this case, intraday bias will be back on the upside for retesting 1.1138 high. Nevertheless, on the downside, break of 1.0795 minor support will turn bias back to the downside for retesting 1.0694 support.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

Daily Pivots: (S1) 1.1290; (P) 1.1338; (R1) 1.1366; More…

EUR/USD’s fall accelerates to as low as 1.1262 so far today and intraday bias stays on the downside. Sustained break of 1.1289 long term fibonacci level will carry larger bearish implication. Next target will be 161.8% projection of 1.1908 to 1.1523 from 1.1691 at 1.1068. On the upside, above 1.1384 minor resistance will turn intraday bias neutral first. But outlook will remain bearish as long as 1.1523 support turned resistance holds.

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) 1.0681; (P) 1.0732 (R1) 1.0786; More…

Intraday bias in EUR/USD remains neutral for the moment. On the upside, break of 1.0786, and sustained trading above 55 day EMA (now at 1.0757) will target 1.0935 resistance next. On the downside, however, break of 1.641 minor support will indicate rejection by 55 day EMA, and turn bias back to the downside for retesting 1.0348 low 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 medium term corrective rebound first.

Daily Pivots: (S1) 1.0588; (P) 1.0632; (R1) 1.0656; More…

No change in EUR/USD’s outlook as consolidation is extending. Further rally is expected as long as 1.0481 resistance turned support holds. 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. However, firm break of 1.0481 will confirm short term topping and bring deeper fall to 1.0289 support.

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.

EUR/USD rebounded further to 1.0693 last week but was rejected by 55 D EMA and retreated. Initial bias stays neutral this week first. On the downside, break of 1.0522 support will turn bias back to the downside for retesting 1.0447 low. Break there will resume larger fall from 1.1274. On the other hand, strong bounce from current level, followed by break above 1.0693, rebound from 1.0447 to 1.0764 cluster resistance (38.2% retracement of 1.1274 to 1.0447 at 1.0763).

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 1.0668) holds, in case of rebound.

In the long term picture, there is no clear sign of trend reversal yet. That is, down trend from 1.6039 (2008 high) might still be in progress. Rejection by 55 M EMA (now at 1.1087) will retain long term bearishness, for another fall through 0.9534 at a later stage.

Daily Pivots: (S1) 1.0422; (P) 1.0511 (R1) 1.0642; More…

Intraday bias in EUR/USD is turned neutral first as it recovered ahead of 1.0339/48 support zone. Outlook will stay bearish as long as 1.0786 resistance holds. 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) 1.1627; (P) 1.1654; (R1) 1.1692; More…..

Intraday bias in EUR/USD remains neutral for consolidation above 1.1612 temporary low. But further fall is expected as long as 1.1752 support turned resistance holds. Break of 1.1612 will resume the decline from 1.2011 short term top to 38.2% retracement of 1.0635 to 1.2011 at 1.1485. However, firm break of 1.1752 will suggest that the corrective pull back has completed. Intraday bias will be turned back to the upside for retesting 1.2011.

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) 1.1924; (P) 1.1944; (R1) 1.1979; More…..

Intraday bias in EUR/USD stays on the upside for 1.2011 high first. Decisive break there will resume whole rally from 1.0635 low. Next target is 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452. On the downside, below 1.1914 minor support will turn intraday bias neutral first. Further break of 1.1800 support will turn bias to the downside, to extend the consolidation pattern from 1.2011 with another falling leg.

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 1.1422 resistance turned support holds.

Daily Pivots: (S1) 1.1741; (P) 1.1800; (R1) 1.1890; More…..

EUR/USD’s rally continues today and hits as high as 1.1890 so far. Break of 1.1880 resistance adds to the bullish case that consolidation from 1.2011 has completed at 1.1602. Intraday bias remains on the upside for 1.2011 and break will resume larger rally from 1.0635. On the downside, though, below 1.1791 minor support will mix up the outlook and turn intraday bias neutral first.

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 1.1422 resistance turned support holds.

Daily Pivots: (S1) 1.0916; (P) 1.0944; (R1) 1.0969; More…

A temporary top is in place at 1.0969 with current retreat and intraday bias in EUR/USD is turned neutral first. Some consolidations could be seen. But further rally is expected as long as 1.0803 support holds. On the upside, above 1.0969 will resume the rise from 1.0634 to retest 1.1094 high. Decisive break there will confirm resumption of whole up trend from 0.9534. However, firm break of 1.0803 will extend the corrective pattern from 1.1094 with another falling leg, targeting 1.0634 and below.

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) 1.0995; (P) 1.1009; (R1) 1.1035; More…

EUR/USD is still bounded in consolidation from 1.0926 and intraday bias remains neutral. In case of another recovery, upside should be limited by 1.1164 resistance. On the downside, sustained break of 1.0926 will resume lager down trend from 1.2555 for 1.0813 fibonacci level next. However, decisive break of 1.1164 will be an early indication of larger reversal and target 1.1249 resistance.

In the bigger picture, down trend from 1.2555 (2018 high) is in progress. 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.

Daily Pivots: (S1) 1.1757; (P) 1.1786 (R1) 1.1800; More….

EUR/USD drops to as low as 1.1729 so far today and focus in now on 1.1712 near term support. Decisive break there will indicate that rebound from 1.1553 has completed at 1.1960. In that case, deeper fall would be seen to retest 1.1553 low. Meanwhile, with 1.1712 support intact, break of 1.1814 will retain near term bullishness. And in that case, intraday bias will be turned back to the upside for 1.1960. Break will target 1.2091 high.

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.

Daily Pivots: (S1) 1.2135; (P) 1.2186 (R1) 1.2213; More….

EUR/USD dropped to as low as 1.2159 so far and focus is now on 1.2154 key support. Decisive break there should confirm the bearish case of medium term reversal. In addition, the break of 100% projection of 1.2475 to 1.2214 from 1.2413 will indicate downside acceleration. In that case, EUR/USD should target 161.8% projection at 1.1991 next. In case of recovery, outlook will remain bearish as long as 1.2244 minor resistance holds. And further decline is still expected. However, break of 1.2244 will indicate strong support from 1.2154 and turn intraday bias back to the upside for 1.2413, to extend recent range trading.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Firm break of 1.2154 support will confirm rejection by this fibonacci level. And in that case, a medium term top is at least formed at 1.2555. EUR/USD should then head back to 38.2% retracement of 1.0339 to 1.2555 at 1.1708 first. We’ll look at the structure and momentum of such decline before decision if it’s an impulsive or corrective move.

Daily Pivots: (S1) 1.0914; (P) 1.0968; (R1) 1.0998; More…

EUR/USD breached 1.0926 low but quickly recovered. Intraday bias remains neutral first. On the downside, decisive break of 1.0926 will confirm resumption of larger down trend from 1.2555 for 1.0813 fibonacci level next. In case of another rise, upside should be limited by 1.1164 resistance to bring down trend resumption eventually.

In the bigger picture, down trend from 1.2555 (2018 high) is in progress. 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.

Daily Pivots: (S1) 1.1211; (P) 1.1237; (R1) 1.1251; More…..

EUR/USD weakens notably after rejection by 1.1264 resistance, but stays in consolidation from 1.1111. Intraday bias remains neutral and outlook is unchanged. In case of another rise, upside should be limited well below 1.1324 resistance to bring fall resumption. On the downside, below 1.1173 minor support will turn bias to the downside for 1.1111 low. Break will extend down trend to 100% projection of 1.1448 to 1.1183 from 1.1324 at 1.1059. Break will target 161.8% projection at 1.0895.

In the bigger picture, down trend from 1.2555 (2018 high) has just resumed. 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186 was also taken out. Current fall should now target 78.6% retracement at 1.0813. Sustained break there will pave the way to retest 1.0339. On the downside, 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.