EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1027; (P) 1.1052 (R1) 1.1075; More

Intraday bias in EUR/USD remains neutral for the moment. Further rise is mildly in favor as long as 1.0943 support holds. Above 1.1184 will target 38.2% retracement of 1.2265 to 1.0805 at 1.1363. However, break of 1.0943 will revive near term bearishness and bring retest of 1.0805 low first.

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.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1611; (P) 1.1665 (R1) 1.1712; More…..

EUR/USD’s rebound from 1.1509 extends higher today. But after all it’s seen as a correction. Hence, in case of further rally, we’d expect strong resistance from 1.1822/1995 resistance zone to limit upside and bring fall resumption eventually. On the downside, below 1.1617 minor support will bring retest of 1.1509 low first. Break will resume the decline from 1.2555 and target 50% retracement of 1.0339 to 1.2555 at 1.1447. Break will target 61.8% retracement at 1.1186 next.

In the bigger picture, current development suggests that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won’t consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0921; (P) 1.0952; (R1) 1.0988; More

Intraday bias in EUR/USD remains neutral as consolidation from 1.1075 is extending. Outlook remains bullish with 1.0830 support intact. On the upside, break of 1.1075 will will resume larger up trend to 1.1273 fibonacci level. Break there will target 61.8% projection of 0.9534 to 1.1032 from 1.0515 at 1.1441. However, firm break of 1.0830 will confirm short term topping and bring deeper decline to 1.0711 support instead.

In the bigger picture, rise from 0.9534 (2022 low) is in progress for 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 (2021 high). This will now remain the favored case as long as 1.0515 support holds, even in case of deeper pull back.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0896; (P) 1.0945; (R1) 1.0989; More

Range trading continues in EUR/USD and intraday bias remains neutral first. As long as 1.1120 support turned resistance holds, larger down trend from 1.1494 is still expected to continue. 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 confirm short term bottoming, at least, and bring stronger rebound back towards 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.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0905; (P) 1.0957; (R1) 1.1044; More

Intraday bias in EUR/USD stays on the upside for 1.1016 resistance. Decisive break there will will confirm resumption of whole rally from 1.0447. Further rally should then be seen to retest 1.1274 high. On the downside, below 1.0914 minor support will turn intraday bias neutral first. But outlook will stay cautiously bullish as long as 1.0722 support holds.

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 55 D EMA will argue that the third leg has already started for 1.0447 and below.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0993; (P) 1.1031; (R1) 1.1084; More

Intraday bias in EUR/USD remains on the upside for the moment. Up trend from 0.9534 is in progress for 1.1273 fibonacci level. Break there will target 61.8% projection of 0.9534 to 1.1032 from 1.0515 at 1.1441. On the downside, below 1.0972 support will turn intraday bias neutral and bring consolidations first. But near term outlook will stay bullish as long as 1.0830 support holds.

In the bigger picture, rise from 0.9534 (2022 low) is in progress for 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 (2021 high). This will now remain the favored case as long as 1.0515 support holds, even in case of deeper pull back.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2068; (P) 1.2080; (R1) 1.2103; More….

EUR/USD is staying in consolidation from 1.2116 temporary top and intraday bias remains neutral first. Further rise is expected with 1.1992 support intact. Break of 1.2116 will resume the rise from 1.1703 for retesting 1.2242/2348 resistance zone. On the downside, though, break of 1.1992, will turn bias to the downside for deeper pull back.

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. However, sustained break of 1.1602 will argue that whole rise from 1.10635 has completed. Deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2156; (P) 1.2179; (R1) 1.2213; More

Intraday bias in EUR/USD remains neutral as consolidation from 1.2265 is still extending. On the upside, above 1.2265 will resume the rise from 1.1703 to retest 1.2348 high. On the downside, below 1.2103 will target 1.1985 support. Break there will confirm that consolidation pattern from 1.2348 has started the third leg. Deeper fall would then be seen back to 1.1703 support.

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.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1265; (P) 1.1306; (R1) 1.1333; More

Range trading continues in EUR/USD and intraday bias remains neutral. Downside breakout is mildly in favor with 1.1382 minor resistance intact. On the downside, break of 1.1185 will resume larger fall from 1.2348. Next target is 161.8% projection of 1.2265 to 1.1663 from 1.1908 at 1.0934. On the upside, however, firm break of 1.1382 resistance should confirm short term bottoming at 1.1186. Intraday bias will be turned back to the upside for 55 day EMA (now at 1.1462).

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.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1876; (P) 1.1901; (R1) 1.1942; More….

Intraday bias in EUR/USD stays mildly on the upside for the moment. Rebound from 1.1703 would extend to 1.1988 resistance. Firm break there will add to the case that whole correction from 1.2348 has completed. Further rally would then be seen to 1.2242 resistance for confirmation. On the downside, however, break of 1.1821 minor support will turn bias back to the downside for 38.2% retracement of 1.0635 to 1.2348 at 1.1694 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 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. However, sustained break of 1.1602 will argue that whole rise from 1.10635 has completed. Deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0944; (P) 1.1019; (R1) 1.1149; More

Intraday bias in EUR/USD remains neutral at this point. As long as 1.1120 support turned resistance holds, larger down trend from 1.1494 is still expected to continue. 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 confirm short term bottoming, at least, and bring stronger rebound back towards 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.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1042; (P) 1.1069; (R1) 1.1086; More

EUR/USD lost upside momentum again after hitting 1.1097. Intraday bias is turned neutral first. On the downside, break of 1.1053 minor support will suggests that rebound from 1.0989 has completed. Intraday bias will be turned back to the downside for 1.0989 support. Break will resume the decline from 1.1175 for retesting 1.0879 low. On the upside, above 1.1097 will extend the rebound to retest 1.1175 resistance.

In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. in case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.2125; (P) 1.2149; (R1) 1.2194; More

Intraday bias in EUR/USD remains on the upside at this point. Rebound form 1.2052 short term bottom should target a test on 1.2348 high. However, decisive break of 1.2052 will resume the correction from 1.2348. Intraday bias will be turned to the downside for 61.8% retracement of 1.1602 to 1.2348 at 1.1887.

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.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.2088; (P) 1.2115; (R1) 1.2149; More

Intraday bias in EUR/USD remains neutral for the moment. On the downside, firm break of 1.2052 will will resume whole correction from 1.2348. Intraday bias will be turned back to the downside for 61.8% retracement of 1.1602 to 1.2348 at 1.1887. On the upside, though, break of 1.2188 resistance will turn bias back to the upside for retesting 1.2348.

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.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0957; (P) 1.0980; (R1) 1.1008; More

Range trading continues in EUR/USD and intraday bias stays neutral at this point. Further fall is expected as long as 1.1148 resistance holds. Below 1.0942 will target 1.0832 support next. Nevertheless, break of 1.1148 will argue that the decline has completed and bring retest of 1.1274 high.

In the bigger picture, a medium term top could be formed at 1.1274, after failing to break through 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 decisively, on bearish divergence condition in D MACD. Sustained trading below 55 D EMA (now at 1.0963) will bring deeper correction to 1.0634 cluster support (38.2% retracement of 0.9534 to 1.1274 at 1.0609). Strong support could be seen there, at least on first attempt, to set the range for consolidation.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1984; (P) 1.2026; (R1) 1.2059; More….

Intraday bias in EUR/USD remains neutral and more consolidation could be seen below 1.2079 temporary top. But further rally is expected with 1.1941 minor support intact. As noted before, correction from 1.2348 should have completed with three waves down to 1.1703. Break of 1.2079 will target 1.2442/2348 resistance zone. However, break of 1.1941 will argue that the rebound from 1.1703 has completed, and turn bias back to the downside for this support.

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. However, sustained break of 1.1602 will argue that whole rise from 1.10635 has completed. Deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1283; (P) 1.1343; (R1) 1.1380; More…..

EUR/USD is staying in range of 1.1267/1472 and intraday bias remains neutral. As long as 1.1472 resistance holds, deeper decline is expected in the pair. On the downside, break of 1.1267 will target 1.1215 low first. Firm break there will resume larger down trend from 1.2555 for 1.1186 fibonacci level next. However, considering bullish convergence condition in daily MACD, firm break of 1.1472 will be suggest medium term bottoming and turn outlook bullish for 1.1814 resistance instead.

In the bigger picture, as long as 1.1814 resistance holds, down trend down trend from 1.2555 medium term top is still in progress and should target 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. However, break of 1.1814 will confirm completion of such down trend and turn medium term outlook bullish.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.2182; (P) 1.2233; (R1) 1.2273; More

Intraday bias in EUR/USD remains on the downside at this point. Corrective fall from 1.2348 short term top is in progress for 1.2058 cluster support (38.2% retracement of 1.1602 to 1.2348 at 1.2063). Strong support should be seen there to contain downside to bring rebound. On the upside, break of 1.2284 minor resistance will bring retest of 1.2348.

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.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0885; (P) 1.0926; (R1) 1.0951; More

A temporary top was formed at 1.0964 in EUR/USD after hitting 61.8% retracement of 1.1274 to 1.0447 at 1.0958. Intraday bias is turned neutral for some consolidations first. Downside of retreat should be contained by 1.0823 support to bring another rally. On the upside, sustained trading above 1.0958 will pave the way to retest 1.1274 high.

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 tentatively seen as the second leg. Hence while further rally could be seen, upside should be limited by 1.1274 to bring the third leg of the pattern.

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1156; (P) 1.1187; (R1) 1.1204; More…..

Intraday bias in EUR/USD remains on the downside for 1.1111 low. Firm break there will resume larger down trend from 1.2555. Next target will be 100% projection of 1.1569 to 1.1176 from 1.1448 at 1.1105 next. On the upside, above 1.1187 minor resistance will turn intraday bias neutral for more consolidation. But in case of another recovery, upside should be limited below 1.1324 resistance to bring down trend resumption eventually.

In the bigger picture, down trend from 1.2555 (2018 high) has just resumed. Current fall should now target 78.6% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) 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.