Daily Pivots: (S1) 1.1289; (P) 1.1357; (R1) 1.1418; More…
Intraday bias in EUR/USD remains neutral for consolidations below 1.1472 temporary top. Downside should be contained above 1.0912 support to bring another rise. On the upside, break of 1.1472 will target 161.8% projection of 1.0358 to 1.0953 from 1.0731 at 1.1694.
In the bigger picture, rise from 0.9534 long term bottom could be correcting the multi-decade downtrend or the start of a long term up trend. In either case, further rise should be seen to 100% projection of 0.9534 to 1.1274 from 1.0176 at 1.1916. This will now remain the favored case as long as 55 W EMA (now at 1.0745) holds.
