Yesterday's test of 1.6000 resistance area failed and current intraday bias is already negative below 1.5945 zone. I expect a break through 1.5900 key support to unleash a sell-off for 1.5750 area.
I think, that the break below 1.3290 support marks a top set at 1.3386 and current bias is negative, for a slide towards 1.3190, en route to 1.3005. Crucial on the upside is 1.3374.
The recent break below 1.3250 crucial level confirms a "double top" formation at 1.3385, thus a final of the whole uptrend since 1.3005 low. The outlook is negative, for a continuation of the sell-off towards 1.30+. Minor initial support is seen at 1.3130 and first resistance on the upside is 1.3215, followed by 1.3250.
The outlook here continues to be negative and current rebound above 1.5831 should be considered corrective in nature, preceding next leg downwards, toward 1.5750 support area. Major resistance on the upside is still 1.5935-50.
The intraday test of 1.3110 resistance failed and although current bias is neutral within the 1.3033-1.3110 range, my outlook is bearish, for a break on the downside, towards 1.2867 support. An eventual violation of 1.3110 resistance will set the focus at 1.3180 area.
After precisely testing the 81.80 resistance area, the pair is ready for a slide towards 80.60 reversal area. The intraday outlook is bearish with an initial resistance at 81.80. Crucial on the upside is still 82.56.
The corrective pattern above 1.3030 is still on the run and as the intraday bias is positive above 1.3090 support, I expect a final leg upwards, for a test of 1.3190-3210 resistance before reversal and a sell-off below 1.30. Initial target on the downside is 1.2860.
With the recent break below 1.3101 the downtrend has been renewed, aiming at 1.2867 support area. Initial intraday resistance is seen at 1.3030, followed by the crucial area at 1.3100. My outlook is bearish, for a break through 1.2975, towards 1.2867.
A reversal has been confirmed at 1.2996 and current outlook is bullish, for a break through 1.3148, towards 1.3210, en route to 1.3387 high. Initial intraday support is projected at 1.3090.
The recent break above 81.20 states, that a bottom is in place at 80.29 and my outlook is bullish, for a break through 81.90 resistance, en route to 83.38 and 84.17. Key initial support is projected at 81.10-20.
The rise from 1.5817 filled my target at 1.6060 and the outlook here remains bullish for a continuation of the uptrend towards 1.6160. Initial intraday support is projected at 1.6040 and crucial on the minute frames is 1.6016, as a violation of that level will provoke a deeper slide for a test of 1.5965 break-out area.
Still in the consolidation pattern above 81.10 and the pair is currently capped at 81.80 resistance area. My outlook remains positive, for a break through 81.90, towards 83.40.
I think, that the recent slide from to 1.3103 was the first part of the consolidation pattern below 1.3227 and currently the second is about to be completed, for a final downward leg, preceding a substantial rise towards 1.3300. Initial minor resistance is projected at 1.3185 and first support is 1.3060.
Yesterday's low at 1.3148 set the final of the whole consolidation pattern below 1.3227 and the uptrend is renewed, targeting 1.3300 dynamic resistance. Key intraday support is 1.3180.
The upmove here is absolutely intact, aiming at 1.3300 dynamic resistance, and I favor a reversal around the mentioned area to initiate a slide towards 1.30+ support zone. Crucial for the current rise is 1.3215 support.
The outlook here remains positive, targeting 1.6350 area and initial support on the downside can be spotted at 1.6250. Only a violation of the latter will signal a larger corrective phase above 1.6190 major support.
Obviously a larger consolidation pattern is underway after yesterday's break below 1.6250, but I expect 1.6190 support area to provide a reliable base for the next leg upwards, to 1.6410. Crucial on the downside is 1.6150.
Although the pair is still struggling above 1.6190 support and the mentioned level is intact, my outlook is bearish, for a break below yesterday's low, towards 1.6070 major support area. Initial resistance on the upside is projected at 1.6250.
The sell-off from 1.3230 marked a local low at 1.3122 and current rebound above that level is corrective, preceding next slide towards 1.3060. Crucial resistance on the upside is 1.3205 area.
