Daily Pivots: (S1) 1.1643; (P) 1.1680; (R1) 1.1709; More…..

EUR/USD is still staying in range below 1.1733 and intraday bias remains neutral. Rebound from 1.1300 is seen as a corrective move. In case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.1300 at 1.1779 to bring near term reversal. On the downside, break of 1.1617 minor support will turn bias back to the downside. Further break of 1.1525 support will indicate completion of this corrective rebound from 1.1300. However, firm break of 1.1779 will extend the rise to 100% projection of 1.1300 to 1.1733 from 1.1525 at 1.1958.

In the bigger picture, a medium term bottom should be in place at 1.1300, on bullish convergence condition in daily MACD and some consolidations would be seen. But still, note that EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. That carries some long term bearish implications. Thus, we’d expect fall from 1.2555 high to resume after consolidation completes. Below 1.1300 should send EUR/USD through 61.8% retracement of 1.0339 to 1.2555 at 1.1186. And, in that case, EUR/USD would head to retest 1.0339 (2017 low).

Daily Pivots: (S1) 1.1125; (P) 1.1141; (R1) 1.1154; More…

After dipping to 1.1101, EUR/USD drew support from 1.1107 low and recovered. With break of 1.1158 minor resistance, intraday bias is turned neutral first. Stronger recovery could be seen. But for now, break of 1.1282 resistance is needed to confirm completion of fall from 1.1412. Otherwise, another decline will remain mildly in favor. Though, firm break of 1.1282 will bring stronger rise to 1.1412 resistance.

In the bigger picture, on the one hand, 1.1107 is seen as a medium term bottom on bullish convergence condition in weekly MACD. On the other hand, rejection by 55 week EMA retains medium term bearishness. Outlook stays neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

Daily Pivots: (S1) 1.2085; (P) 1.2115; (R1) 1.2148; More…

Intraday bias in EUR/USD remains neutral as range trading continues. On the upside, break of 1.2168 will resume the rebound form 1.1951 for retesting 1.2348 high. on the downside, break of 1.1951 will extend the correction from 1.2348 with another fall.

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) 1.2025; (P) 1.2045; (R1) 1.2071; More…

Intraday bias in EUR/USD remains on the upside at this point. Corrective fall from 1.2348 should have completed with three waves down to 1.1951. Break of 1.2188 resistance will bring retest of 1.2348 high. On the downside, though, break of 1.1951 support will resume the correction 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 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) 1.1103; (P) 1.1145; (R1) 1.1190; More…

EUR/USD is staying in range above 1.1101 and intraday bias remains neutral first. As long as 1.1282 resistance holds, further decline is expected. Sustained break of 1.1107 low will resume larger down trend from 1.2555. Though, firm break of 1.1282 will bring stronger rise to 1.1412 resistance.

In the bigger picture, on the one hand, 1.1107 is seen as a medium term bottom on bullish convergence condition in weekly MACD. On the other hand, rejection by 55 week EMA retains medium term bearishness. Outlook stays neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

Daily Pivots: (S1) 1.2013; (P) 1.2046; (R1) 1.2070; More….

Intraday bias in EUR/USD remains mildly on the upside at this point. Correction from 1.2348 should have completed with three waves down to 1.1703. Further rise should be seen to 1.2442/2348 resistance zone. For now, further rally will remain in favor as long as 1.1941 support holds, 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. 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.

Daily Pivots: (S1) 1.1556; (P) 1.1583; (R1) 1.1603; More…

EUR/USD’s fall is still in progress and intraday bias remains on the downside. It’s now in a deeper correction to whole rise from 1.0634. Next target is 1.1289 medium term fibonacci level. On the upside, above 1.1608 minor resistance will turn intraday bias neutral and bring consolidations first. But risk will stay on the downside as long as 1.1908 resistance holds.

In the bigger picture, sustained break of 1.1602 will argue that rise from 1.0635 (2020 low) has completed at 1.2348. Deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289. Note also that the firm break of 55 week EMA (1.1830) also carries medium term bearish implication. Firm break of 1.1289 will pave the way to retest 1.0635 low. On the upside, though, break of 1.1908 resistance will revive medium term bullishness and turn focus back to 1.2348 high.

Daily Pivots: (S1) 1.0921; (P) 1.0942; (R1) 1.0980; More…

Intraday bias in EUR/USD remains neutral at this point. Consolidation from 1.0879 might extend. But outlook remains bearish as long as 1.1109 resistance holds. Medium term down trend is expected to continue and break of 1.0879 will target 1.0813 fibonacci level next.

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 confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.0850; (P) 1.0874; (R1) 1.0913; More…

Intraday bias in EUR/USD is turned neutral first but further rally is expected with 1.0765 support intact. Break of 1.0925 will resume the rally from 0.9534 to 61.8% projection of 0.9630 to 1.0733 from 1.0482 at 1.1164 next. On the downside, though, break of 1.0765 support should now indicate short term topping, and turn bias back to the downside for 55 day EMA (now at 1.0557).

In the bigger picture, current development suggests that 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) 1.0581; (P) 1.0623; (R1) 1.0646; More…

EUR/USD’s corrective fall from 1.1032 resumed by breaking 1.0610 temporary low. Intraday bias is back on the downside. Further decline should be seen to 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. On the upside, above 1.0703 minor resistance will turn intraday bias neutral first. But risk will continue to stay on the downside as long as 1.0803 resistance holds.

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) 1.0593; (P) 1.0642; (R1) 1.0719; More…

Intraday bias in EUR/USD stays mildly on the upside for the moment. Corrective decline from 1.1032 should have completed with three waves down to 1.0532 already. Further rise should be seen to 1.0803 resistance first. Firm break there will pave the way to retest 1.1032 high. For now, risk will stay mildly on the upside as long as 1.0532 support holds, in case of retreat.

In the bigger picture, as long as 1.0482 support holds, rise from 0.9534 (2022 low) should continue to 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. However, sustained break of 1.0482 will bring deeper fall to 61.8% retracement of 0.9534 to 1.1032 at 1.0106, even as a corrective pull back.

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.

Daily Pivots: (S1) 1.0739; (P) 1.0794; (R1) 1.0824; More…

Intraday bias in EUR/USD is turned neutral first with today’s recovery. But further decline will remain in favor as long as 1.0903 resistance holds. Fall from 1.1094 is seen as a correction to whole up trend from 0.9534. Below 1.0759 will resume the decline to 1.0515 cluster support, 38.2% retracement of 0.9534 to 1.1094 at 1.0498. On the upside, though, firm break of 1.0903 will bring stronger rebound back to retest 1.1094 high 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) 1.1628; (P) 1.1694; (R1) 1.1737; More…..

EUR/USD’s break of 1.1688 support suggests that recovery from 1.1612 has completed at 1.1880. Corrective fall from 1.2011 is likely resuming. Intraday bias is back on the upside for for 1.1612 support first. break will confirm and target 38.2% retracement of 1.0635 to 1.2011 at 1.1485. On the upside, above 1.1758 minor resistance will mix up the near term 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) 0.9821; (P) 0.9860; (R1) 0.9913; More…

Intraday bias in EUR/USD stays neutral at this point. And further decline will remain in favor with 0.9998 resistance intact. On the downside, break of 0.9630 bring retest of 0.9534 first. Firm break there will resume larger down trend. However, break of 0.9998 resistance will resume the rise from 0.9534, and carry larger bullish implications.

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, break of 0.9998 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even with strong rebound. However, considering bullish convergence condition in daily MACD, firm break of 0.9998 will confirm medium term bottoming, and bring further rise back to 1.0368 resistance first.

Daily Pivots: (S1) 1.0503; (P) 1.0542; (R1) 1.0577; More…

Range trading continues in EUR/USD and intraday bias remains neutral. On the downside, break of 1.0442 support will indicate rejection by 1.0609 fibonacci level. Bias will be back on the downside for 1.0222 support and below. However, firm break of 1.0594/0609 resistance zone will carry larger bullish implication. Next near term target is 61.8% projection of 0.9729 to 1.0481 from 1.0222 at 1.0687, and then 100% projection at 1.0974.

In the bigger picture, focus is now 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.

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.

Daily Pivots: (S1) 1.1431; (P) 1.1446; (R1) 1.1460; More…

Intraday bias in EUR/USD stays on the downside at this point. Current decline from 1.2265 is in progress. Next target is 100% projection 1.1908 to 1.1523 from 1.1691  at 1.1306, which is close to long term fibonacci level at 1.1289. We’d pay attention to bottoming signal there. On the upside, above 1.1512 minor resistance will turn intraday bias neutral first. But overall near term outlook will stay bearish as long as 1.1691 resistance holds, even in case of strong 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 could pave the way back to 1.0635.

Daily Pivots: (S1) 1.0703; (P) 1.0730; (R1) 1.0743; More…

Intraday bias in EUR/USD is turned neutral with current retreat, and some consolidations could be seen. But further rally is in favor as long as 55 4H EMA (now at 1.0637) holds. Decisive break of 1.0764 cluster resistance (38.2% retracement of 1.1274 to 1.0447 at 1.0763) will extend the rise from 1.0447 to 61.8% retracement at 1.0958 next. However, sustained break of 55 4H EMA will argue that the rebound has completed, and target 1.0515 support, and then 1.0447 low.

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.

Daily Pivots: (S1) 1.0855; (P) 1.0929; (R1) 1.0970; More…

Intraday bias in EUR/USD remains neutral at this point. Consolidation from 1.1016 could extend further and deeper retreat cannot be ruled out. But further rally is expected as long as 1.0722 support holds. On the upside, break of 1.1016 will resume the whole rise from 1.0447 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 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 1.0722 support will argue that the third leg has already started for 1.0447 and below.