Yesterday's several tests of 1.2885 area failed and current intraday bias is positive above 1.2916 support, struggling below 1.2950 dynamic resistance. I expect a break through the descending trend line to initiate a rise for through 1.3022 crucial level, en route to 1.3170 high.
Today's slide to 1.2946 within the corrective pattern below 1.2983 was a retest of the already broken descending trend line from 1.3139 peak and my outlook here is bullish, for a test and later on a break through 1.3022 crucial area, en rote to 1.3085 and 1.3170. Initial support is projected at 1.2967 and crucial on the downside is 1.2946 low.
Yesterday's precise test of 1.3022 crucial level failed and the sell-off which followed broke below 1.2946 intraday low. The bias is negative below 1.2950 resistance, for a continuation of the downtrend towards 1.2885, en route to 1.2805. Crucial on the upside is 1.2970.
The recent slide below 1.2924 clearly signals, that a downtrend is on the run, targeting 1.2802 low, en route to 1.2750. Key resistance on the upside is 1.2924 static level.
On your chart there is a clear slide from 1.2952 to 1.2837 apprx., which means depreciation of the EURO and USD value going up, confirming my forecasts from the prevoius days.
The downtrend here is intact and after a brief corrective rebound above 1.5997 static support, the slide has been renewed, targeting 1.5910 low. Initial resistance is projected at 1.6005, followed by the crucial 1.6040.
The bias here continues to be bearish below 1.2816 resistance level, and the focus is still set on 1.2740 support. Crucial on the upside is 1.2843 high and a violation of that level will initiate a rise for a test of 1.2924 major resistance.
Although there is an intraday impulse after the recent break above 1.2820, the pair is still struggling below 1.2885 resistance and the downtrend from 1.3139 remains intact. My outlook here is bearish, for a break through 1.2820, en route to 1.2690.
Current rebound above 1.2718 low is by all means a corrective one and the downtrend from 1.3139 is still intact. My outlook here is negative, for a slide towards 1.2650 major support area. Crucial on the upside remains 1.2875.
Yesterday's upswing to 79.64 was in fact a test of 79.77 resistance area and my outlook here is already negative, for a slide towards 78.90. A break below the latter will set the focus on 77.90.
The recent break above 79.60 resistance clearly signals, that an uptrend is underway an my outlook here is bullish, towards 80.66 peak. Initial support is projected at 79.60.
The outlook here remains positive after the break above 80.60 an my outlook is bullish, for a rise towards 81.80. Initial support is projected at 80.60 and crucial on the downside is 80.30.
Current intraday bias is positive against 1.5847 low, for a test at 1.5910-17 resistance area. I favor a reversal below 1.5917 to initiate another downswing, for a test of 1.5750 major support.
The recent break above 81.50 signals, that the consolidation pattern below the mentioned level is already over and the bias is positive, for an upmove towards 83.10 resistance area. Initial intraday support is projected at 81.50 and crucial on the downside is 81.14.
