Daily Pivots: (S1) 1.0802; (P) 1.0839; (R1) 1.0872; More…
Intraday bias in EUR/USD is turned neutral first with current retreat. Some consolidations would be seen below 1.0887 temporary top. Downside should be contained by 55 4H EMA (now at 1.0682) to bring another rally. Above 1.0887 will resume the rise from 1.0176 to 161.8% projection of 1.0176 to 1.0531 from 1.0358 at 1.0932. Firm break there will pave the way back to 1.1274 key resistance next.
In the bigger picture, the strong break of 55 W EMA (now at 1.0675) suggests that fall from 1.1274 (2024 high) has completed as a three wave correction to 1.0176. Rise from 0.9534 is still intact, and might be ready to resume. Decisive break of 1.1274 will target 100% projection of 0.9534 to 1.1274 from 1.0176 at 1.1916. Also, that will send EUR/USD through a multi-decade channel resistance will carries larger bullish implication. This will now be the favored case as long as 1.0531 resistance turned support holds.
 to bring another rally. Above 1.0887 will resume the rise from 1.0176 to 161.8% projection of 1.0176 to 1.0531 from 1.0358 at 1.0932. Firm break there will pave the way back to 1.1274 key resistance next.){kind=link}