Daily Pivots: (S1) 1.1016; (P) 1.1129; (R1) 1.1315; More…
Intraday bias in EUR/USD Is back on the upside with break of 1.1145. Also, the break of 1.1274 indicates large up trend resumption. Further rise should be seen to 161.8% projection of 1.0358 to 1.0953 from 1.0731 at 1.1694. For now, near term outlook will remain bullish case long as 1.0912 support holds, in case of retreat.
In the bigger picture, break of 1.1274 (2024 high) indicates resumption of whole up trend from 0.9534 (2022 low). Next target is 100% projection of 0.9534 to 1.1274 from 1.0176 at 1.1916. Also, that will send EUR/USD through the multi-decade channel resistance will carries larger bullish implication. This will now be the favored case as long as 55 D EMA (now at 1.0745) holds.
