After reaching an 8-month high right above 1.33, the pair retraced all its intraday gains and found solid support at 1.3187. Short-term scenario implies we might witness some serious sell-offs. However, only a break and consolidation below the critical 1.3185 would be considered a trend reversal signal. On the longer run, the bigger frames show EUR/USD is still under the control of the bulls.
The break above the critical 84.20 is yet another confirmation of the USD/JPY uptrend. In case of a break of the 85.60 resistance, the next target would be 87.12.
After reaching an 8-month high right above 1.33, the pair retraced all its intraday gains and found solid support at 1.3187. Short-term scenario implies we might witness some serious sell-offs. However, only a break and consolidation below the critical 1.3185 would be considered a trend reversal signal. On the longer run, the bigger frames show EUR/USD is still under the control of the bulls.
After breaking beyond 1.3125 resistance level the pair entered a prolonged consolidation pattern below 1.3310 and the bias on the senior frames is absolutely positive, pointing towards 1.3490, en route to 1.40. The intraday outlook is bullish as well, supported at 1.3220 and I favor a break through 1.3310 to initiate a rise for 1.3490. Major key support on the downside is 1.3125 area.
The bias remains positive as the uptrend is absolutely intact, targeting 89.01 resistance area. Initial intraday support is projected at 87.84, followed by the key level around 87.37. Crucial on the downside is 86.77 low.
The downtrend from 1.3310 is already over with last week's low at 1.2997 and the intraday outlook is positive, for a rise towards 1.3125 resistance area. Major support below the dynamic projection at 1.2960 is seen at 1.2880.
Yesterday's slide below 87.63 dynamic support signals, that a larger consolidation pattern is underway and my outlook here is negative, for a break through 87.30 area, en route to 86.50 support. Crucial on the upside is 87.95.
The bias here remains positive for a break through 88.40 high, en route to 89.01 resistance area. Crucial on the downside from an intraday point of view is 87.71.
Yesterday's impulsive rise broke through 1.3175 resistance area and the pair is currently consolidating below 1.3310 highs. Current corrective pattern should be limited above 1.3175 support, before next leg upwards, toward 1.3490 area. Minor intraday support is seen at 1.3250 and crucial on the downside is 1.3130 break-out area.
Friday's break beyond 1.3310 highs signals, that the uptrend has been renewed, targeting new highs above 1.3500. The intraday bias however is negative and I expect a corrective slide towards 1.3300 support area.
Current rebound after 1.6031 low is by all means corrective in nature, so my outlook here is negative, for a sell-off below 1.6095 resistance, towards 1.5940 area.
Yesterday's break below 1.3310 support area signals a deeper correction towards 1.3175-3200 area before renewal of the general uptrend. The intraday outlook is negative below 1.3315, for a slide towards 1.3200.
Today's break above 1.3317 resistance area signals, that a bottom is in place at 1.3251 and my outlook is positive for a rise towards 1.3404, en route to 1.35+. Initial support is seen at 1.3315 area and crucial on the downside is 1.3270.
The uptrend here is absolutely intact and current pullback below 90.20 peak should be considered corrective in nature, preceding next wave upwards, to 91.80. Initial intraday support is projected at 89.55.
Friday's sell-off reached a local low at 1.5840 and I expect a corrective rebound towards 1.5960 resistance area. Initial major support is projected at 1.5825.
The downtrend here remains intact and the outlook is bearish, for a slide towards 1.5760 static support. A reversal around the mentioned area will initiate a rebound towards 1.5960 break-out level.
Yesterday's break above 88.90 resistance area signals, that a bottom is in place at 88.03 and current intraday bias is positive, for a rise towards 90.22 high, en route to 91.50. Initial support is projected at 88.90.
