EUR/USD Daily Outlook

Intraday bias in EUR/USD remains neutral for the moment. Consolidation from 1.2069 might extend and below 1.1822 will bring deeper fall. But after all, there is no clear sign of trend reversal yet. Outlook will remain bullish as long as 1.1661 holds. Break of 1.2069 will extend larger rise from 1.0339 to next key fibonacci level at 1.2516. Nonetheless, break of 1.1661 will bring much lengthier consolidation first.

EUR/USD Weekly Outlook

EUR/USD jumped to 1.2069 last week but retreated sharply since then. The rebound from 1.1822 was short lived as the pair turned southward again. Initial bias is neutral this week first as consolidation from 1.2069 could extend. Below 1.1822 will bring deeper fall. But after all, there is no clear sign of trend reversal yet. Outlook will remain bullish as long as 1.1661 holds. Break of 1.2069 will extend larger rise from 1.0339 to next key fibonacci level at 1.2516. Nonetheless, break of 1.1661 will bring much lengthier consolidation first.

EUR/USD Mid-Day Outlook

EUR/USD’s strong rebound suggests that pull back from 1.2069 has completed at 1.1822 already. Intraday bias is turned back to the upside for retesting. 1.2069 first. Break there will resume medium term rise from 1.0339 and should target next key fibonacci level at 1.2516. On the downside, below 1.1878 minor support will extend the correction from 1.2069 with another fall. But downside should be contained well above 1.1661 support to bring rally resumption.

EUR/USD Daily Outlook

Intraday bias in EUR/USD remains neutral for the moment. While the pull back from 1.2069 is deep, it’s held well above 1.1661 support. Thus, near term outlook remains bullish and further rise is expected. Above 1.1928 minor resistance will turn intraday bias back to the upside for retesting 1.2069 high first. Decisive break there will resume whole up trend from 1.0339. This will remain the preferred case as long as 1.1661 holds. However, firm break of 1.1661 will confirm short term topping and bring deeper pull back.

EUR/USD Mid-Day Outlook

EUR/USD’s pull back from 1.2069 extends to as low as 1.1822 so far today but it’s staying well above 1.1661 support. That is, near term outlook remains bullish as further rise is still expected. Above 1.1928 minor resistance will turn intraday bias back to the upside for retesting 1.2069 high first. Decisive break there will resume whole up trend from 1.0339. This will remain the preferred case as long as 1.1661 holds. However, firm break of 1.1661 will confirm short term topping and bring deeper pull back.

EUR/USD Daily Outlook

Intraday bias in EUR/USD remains neutral as the corrective pattern from 1.2069 is unfolding. While deeper fall cannot be ruled out, downside should be contained well above 1.1661 support to bring rise resumption. Above 1.2069 will extend the whole rally from 1.0339 to 61.8% projection of 1.1118 to 1.1908 from 1.1661 at 1.2149 first. Break there will target 100% projection at 1.2451 next.

EUR/USD Mid-Day Outlook

Retreat from 1.2069 extends lower today and deeper fall could be seen to 4 hour 55 EMA (now at 1.1866). But downside should be contained well above 1.1661 support to bring rise resumption. Above 1.2069 will extend the whole rally from 1.0339 to 61.8% projection of 1.1118 to 1.1908 from 1.1661 at 1.2149 first. Break there will target 100% projection at 1.2451 next.

EUR/USD Daily Outlook

A temporary top is in place at 1.2069 and intraday bias is turned neutral first. Some consolidations would be seen but downside should be contained well above 1.1661 support to bring rise resumption. Above 1.2069 will extend the whole rally from 1.0339 to 61.8% projection of 1.1118 to 1.1908 from 1.1661 at 1.2149 first. Break there will target 100% projection at 1.2451 next.