vThe ratio of long to short positions in the EURUSD stands at -1.80 as nearly 64% of traders are short. Yesterday, the ratio was at -1.61 as 62% of open positions were short. In detail, long positions are 8.3% lower than yesterday and 1.5% weaker since last week. download 5000 backlinks
Yesterday's sell-off bottomed at 1.5648 and although there are no clear sign of a reversal yet, I continue to think, that an uptrend is about to emerge from current levels, for a break through 1.5770 resistance area, towards 1.5930 high.
At last the pair broke through 1.3321 high, which is a clear signal, that the consolidation pattern below this level is already over and the bias is undoubtedly bullish for 1.3450, en route to 1.3540. Initial support is projected at 1.3340 and crucial on the downside is yesterday's retest of 1.3270 support.
The impulsive rise after the test of 79.86 looks like an exhaustion, final phase of the whole uptrend from 76.01, so my outlook is bearish for a break through 80.40 and most importantly below 79.86, en route to 78.20. The intraday bias is negative already, aiming at 80.40 with a crucial resistance at 81.35.
Yesterday's intraday slide bottomed at 1.3389 and I think, that it was the final leg of the consolidation pattern below 1.3487. Current outlook is bullish, for a break through 1.3487 towards 1.3610. Initial minor support is projected at 1.3438 and crucial on the downside is 1.3389 low.
Yesterday's rise peaked at 1.5993 and current pullback is to be considered corrective in nature, preceding next leg upwards, to 1.6035, en route to 1.6120. Initial intraday support is projected at 1.5899 and crucial on the downside is 1.5800.
The slide from 1.3487 "double top" formation has shown an obvious strength and this downtrend is still intact, consolidating above the 1.3160 dynamic support. Although the uptrend from 1.2624 on the 4h. chart is still intact, I favor a continuation of the current sell, for a break through 1.3160, towards 1.2975 low. Major resistance on the upside is projected at 1.3280 and crucial area is 1.3330.
Current minor consolidation pattern above 80.58 low precedes next sell-off for a tighter test of 80.01 support area. Initial intraday key level is projected at 81.15.
Yesterday's rise after the break above 1.3160 resistance managed to test precisely 1.3285 area and current slide is probably corrective, preceding next leg upwards, to 1.3330-50. The intraday bias is negative below 1.3250 resistance, for 1.3184. Major support on the downside is 1.3160.
Friday's break below 1.3160 static support signals, that the consolidation pattern above 1.3100 is already over with the recent peak at 1.3290 and the downtrend is renewed, towards 1.2975. The intraday bias is slightly positive, but I expect current rebound to be limited below 1.3160 intraday resistance, before next leg downwards. Crucial on the upside is 1.3210.
The bullish outlook remains absolutely intact and with today's low at 81.99 the corrective pattern below 82.64 is complete, setting the focus at 83.45 target zone. The intraday bias is positive as well and major support on the downside continues to be 81.90.
The rebound above 1.5602 low resulted in a test of 1.5750 resistance area and current intraday bias is positive as well, heading for a second test of the mentioned area. I favor a reversal below 1.5750-60 zone for a sell-off through 1.5650, en route to 1.5501.
There is an already confirmed reversal at 1.3003and the intraday outlook is slightly positive for a test of 1.3090 resistance area. The outlook on the senior frames remains bearish for a break through 1.3003, towards 1.2860 support zone and crucial on the 1h. chart is 1.3190. I expect current rebound to be capped at 1.3130 for next leg downwards, to 1.2860.
Yesterday's rise peaked at 1.3120 and this was a test of 1.3130 resistance area. My outlook continues to be bearish, for a break through 1.3040 intraday support , towards 1.2975, en route to 1.2860. Major resistance on the upside remains 1.3030 and crucial level is 1.3190.
Friday's break above 1.3130 resistance area confirmed a reversal at 1.3003 and current bias is positive above 1.3130 support, for a rise towards 1.3290 high. Major support on the downside is 1.3130 and crucial is 1.3050.
Yesterday's peak at 1.3266 was a test of 1.3290 resistance area and I favor a reversal for a slide towards 1.3100 support area. Initial intraday support is projected at 1.3190 and crucial on the upside is 1.3240.
Although the intraday bias is still positive above 1.3245 support, I do expect a reversal below 1.3290 major resistance, for a break through 1.3215, en route to 1.3100.
Yesterday's sell-off bottomed at 1.3175 and current rebound should be considered corrective, preceding next slide towards 1.3090. Initial resistance is projected at 1.3250 and major level on the upside is 1.3290.
The recent low at 1.3133 was the final of the whole slide from 1.3284 and current bias is positive, for a rise towards 1.3360. Initial support is projected at 1.3250 and crucial area is projected at 1.3210.
The bias here is positive after yesterday's break above 1.3290 resistance, but I am tempted to expect a reversal for a slide through 1.3290, towards 1.3190 , en route to 1.3100. Initial resistance on the upside is 1.3360, followed by the major one at 1.3487 and key support is projected at 1.3290.
