Daily Pivots: (S1) 1.0990; (P) 1.1014; (R1) 1.1059; More…

EUR/USD’s rebound from 1.0926 extends higher today. But it’s staying well below 1.1164 resistance and further decline is still in favor. Break of 1.0926 will resume lager down trend from 1.2555. However, firm break of 1.1164 will turn near term outlook bullish for 1.1412 key resistance.

In the bigger picture, down trend from 1.2555 (2018 high) is in progress and extending. 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) 1.2279; (P) 1.2314; (R1) 1.2362; More…

Intraday bias in EUR/USD remains on the upside and current rise should target 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452 next. On the downside, below 1.2214 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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) 0.9892; (P) 0.9918; (R1) 0.9958; More…

EUR/USD is losing some downside momentum but further fall is still expected as long as 1.0078 resistance holds. Decisive break of 61.8% projection of 1.0773 to 0.9951 from 1.0368 at 0.9860 should prompt downside acceleration to 100% projection at 0.9546. On the upside, however, firm break of 1.0078 will indicate short term bottoming, and turn bias back to the upside for 1.0368 resistance instead.

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 1.0368 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 1.0849; (P) 1.0903; (R1) 1.0958; More…

EUR/USD’s recovery from 1.0805 extends higher today but outlook is unchanged. Intraday bias stays neutral first. While stronger recovery cannot be ruled out, upside should be limited by 1.1120 support turned resistance to bring down trend resumption. On the downside, firm break of 61.8% projection of 1.2265 to 1.1120 from 1.1494 at 1.0786 will pave they way to 100% projection at 1.0349 next. However, strong break of 1.1120 will bring stronger rebound back to 1.1494 structural resistance instead.

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) 1.0682; (P) 1.0731; (R1) 1.0756; More…

EUR/USD dips notably today but stays above 1.0634 support. Intraday bias remains neutral first. 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 1.0829).

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) 1.1749; (P) 1.1777; (R1) 1.1824; More…

Intraday bias in EUR/USD remains mildly on the upside at this point. Rebound from 1.1705 short term bottom is in progress for 1.1907 resistance. Firm break there will suggest that fall from 1.2265, as well as consolidation pattern from 1.2348, have completed. Near term outlook will be turned bullish for retesting 1.2265/2348 resistance zone. However, below 1.1705 will turn focus back to 1.1602/1703 key support zone again.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally remains in favors long as 1.1602 support holds, to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). Reaction from 1.2555 should reveal underlying long term momentum in the pair. However sustained break of 1.1602 will argue that the rise from 1.0635 is over, and turn medium term outlook bearish again.

Daily Pivots: (S1) 1.0548; (P) 1.0583; (R1) 1.0607; More…

EUR/USD dips notably after rejection by 55 4H EMA, but stays above 1.0487 support. Intraday bias remains neutral for the moment. Stronger recovery cannot be ruled out. But near term outlook will stay bearish as long as 1.0764 support turned resistance holds. Break of 1.0487 will resume the fall from 1.1274 to 1.0199 fibonacci level.

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 1.0786) holds, in case of rebound.

Daily Pivots: (S1) 1.1199; (P) 1.1238; (R1) 1.1266; More…

Intraday bias in EUR/USD is turned neutral again first. On the downside, break of 1.1202 minor support will indicate rejection by 1.1273 fibonacci level. Intraday bias will be back on the downside for deeper pull back to 55 4H EMA (now at 1.1119) and possibly below. Nevertheless, sustained break of 1.1273 will extend larger up trend to 161.8% projection of 1.0634 to 1.1011 from 1.0832 at 1.1442 next.

In the bigger picture, as rise from 0.9534 extends, focus is now on 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. Sustained break there will solidify the case of bullish trend reversal and target 1.2348 resistance next. Meanwhile, outlook will continue to stay bullish as long as 1.0832 support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.1337; (P) 1.1375; (R1) 1.1405; More……

Intraday bias in EUR/USD remains neutral for the moment. With 1.1317 minor support intact, another rise remains in favor. On the upside, break of 100% projection of 1.1107 to 1.1347 from 1.1181 at 1.1142 will pave the way to 161.8% projection at 1.1569 next. However, firm break of 1.1317 will be an early sign of completion of rise from 1.1107. Intraday bias will be turned back to the downside for 1.1181 support instead.

In the bigger picture, considering bullish convergence condition in daily and weekly MACD, a medium term bottom should be in place at 1.1107 after hitting 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186. Further rise should be seen to 38.2% retracement of 1.2555 to 1.1107 at 1.1660. Reactions from there could indicate whether rebound from 1.1107 is a corrective rise or reversing medium term trend.

Daily Pivots: (S1) 1.0365; (P) 1.0393 (R1) 1.0435; More…

EUR/USD is staying in consolidation above 1.0339 long term support. Intraday bias remains neutral for the moment. Outlook also stays bearish as long as 1.0641 resistance holds. Decisive break of 1.0339 will carry larger bearish implication and target 161.8% projection of 1.1494 to 1.0805 from 1.1184 at 1.0069. Nevertheless, break of 1.0641 will indicate short term bottoming and turn bias back to the upside for rebound.

In the bigger picture, break of medium term channel support suggests downside acceleration. Current decline from 1.2348 (2021 high) is probably resuming long term down trend from 1.6039 (2008 high). Decisive break of 1.0339 will confirm this bearish case. Next target is 61.8% projection of 1.3993 to 1.0339 from 1.2348 at 1.0090. This will now remain the favored case as long as 1.0805 support turned resistance holds.

Daily Pivots: (S1) 1.1810; (P) 1.1838; (R1) 1.1888; More…..

Intraday bias in EUR/USD remains neutral at this point and some consolidations could be seen. Further rise remains in favor though. Break of 1.1880 will target a test on 1.2011 high. On the downside, though, break of 1.1688 will likely extend the corrective pattern from 1.2011 with another leg. Intraday bias will be turned back the downside for 1.1612 and below.

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) 1.1243; (P) 1.1286; (R1) 1.1366; More…

EUR/USD is staying in consolidation from 1.1185 and intraday bias remains neutral. Further decline is still in favor as long as 1.1373 resistance holds. Break of 1.1185 will target 161.8% projection of 1.1908 to 1.1523 from 1.1691 at 1.1068 next. However, firm break of 1.1373 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

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) 1.1886; (P) 1.1938; (R1) 1.1969; More….

Intraday bias in EUR/USD remains neutral at this point as range trading continues. On the upside, break of 1.1989 will resume the rebound form 1.1834 for 55 day EMA (now at 1.2033). Sustained trading above 55 day EMA will indicate completion of correction from 1.2348 and bring retest of this high. On the downside, however, break of 1.1834 will extend the correction from 1.2348 to 38.2% retracement of 1.0635 to 1.2348 at 1.1694.

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) 1.0639; (P) 1.0669; (R1) 1.0724; More…

Intraday bias in EUR/USD remains neutral at this point, and risk stays on the downside as long as 1.0803 resistance holds. Below 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) 1.0922; (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.

Daily Pivots: (S1) 1.1830; (P) 1.1857; (R1) 1.1876; More…

Some jitter is seen in EUR/USD in early US session. But intraday bias stays on the downside with 1.1883 minor resistance intact. Fall from 1.2263, as the third leg of the consolidation pattern from 1.2348, should target 1.1703 support. On the upside, above 1.1883 minor resistance will turn intraday bias neutral first. But break of 1.1974 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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. However sustained break of 1.1602 will argue that the rise from 1.0635 is over, and turn medium term outlook bearish again.

Daily Pivots: (S1) 1.0851; (P) 1.0875; (R1) 1.0917; More…

EUR/USD is still bounded in range of 1.0834/1011 despite today’s rally attempt. Intraday bias stays neutral, but further rise is in favor. On the upside, break of 1.1011 will resume the rise from 1.0634 and target 1.1094 resistance. Decisive break there will resume larger up trend from 0.9534 to 1.1273 fibonacci level. However, firm break of 1.0834 will turn bias to the downside for 1.0634 support instead.

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) 1.0568; (P) 1.0774; (R1) 1.0894; More…

Intraday bias in EUR/USD remains on the downside at this point. Prior break of 1.0777 low suggests that medium term down trend might be resuming. Sustained trading below 1.0777 will pave the way to 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. On the upside, though, break of 1.1045 resistance will indicate short term bottoming and turn bias to the upside for rebound.

In the bigger picture, rebound from 1.0777 low faced heavy rejection from 38.2% retracement of 1.2555 to 1.0777 at 1.1456, as well as 55 month EMA. The development argues that price actions from 1.0777 medium term pattern were just correcting the down trend from 1.2555 (2018 high). Further decline is in favor to retest 1.0339 (2017 low). Nevertheless, sustained break of 1.1456 will raise the chance of medium term bullish reversal and target 61.8% retracement at 1.1876.

Daily Pivots: (S1) 1.1282; (P) 1.1336; (R1) 1.1364; More…

EUR/USD recovers notably after initial dip today, but stays well inside range of 1.1265/1482. Intraday bias remains neutral and outlook is unchanged. On the upside, firm break of 1.1482 will target 38.2% retracement of 1.2348 to 1.1120 at 1.1589 next. Sustained break there will argue that whole fall from 1.2348 has completed too and target 61.8% retracement at 1.1879. On the downside, however, break of 1.1265 support will dampen this bullish view and bring retest of 1.1120 low instead.

In the bigger picture, the decline from 1.2348 (2021 high) is seen as a leg inside the range pattern from 1.2555 (2018 high). Sustained trading above 55 week EMA (now at 1.1593) will argue that it has completed and stronger rise would be seen back towards top of the range between 1.2348 and 1.2555. However, 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.

Daily Pivots: (S1) 1.0845; (P) 1.0868 (R1) 1.0900; More…

Intraday bias in EUR/USD remains neutral for the moment. But further fall is expected with 1.0987 resistance intact. On the downside, decisive break of 1.0805 low will resume larger down trend. Next target is 61.8% projection of 1.1494 to 1.0805 from 1.1184 at 1.0758, and then 100% projection at 1.0495. On the upside, above 1.0987 minor resistance will turn bias back to the upside for 1.1184 resistance instead.

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 extending term range trading first.