Yesterday's sell-off bottomed at 1.2830 and current rebound should be considered corrective, preceding next slide towards 1.2700 zone. Initial minor resistance is projected at 1.2890, followed by the key area at 1.2950.
The intraday bias is still negative, after the peak at 1.5260, but I favor a reversal above 1.5100 to initiate a break through 1.5202 intraday resistance, en route to 1.5330 target zone. Crucial support on the downside is projected at 1.5025 low.
The downtrend here is absolutely intact and current rebound above 1.2748 low should be considered corrective in nature, preceding next leg downwards, to 1.2700 area. Initial intraday resistance is projected at 1.2820 and crucial on the upside is 1.2890.
The downtrend after 1.3050 high is already over wit the double test of 1.2750 support zone and currently a consolidation pattern is underway with a potential for a test of 1.2900 resistance area. The overall outlook on the senior frames remains bearish, focused on 1.2650 major support.
The bias here remains positive for a break through 1.5260, en route to 1.5330 resistance area. Key intraday support is projected at 1.5165, but only a violation of 1.5110 low would signal a slide a reversal of the sentiment and a slide towards 1.4980.
As expected, the rally from 1.2770 peaked below 1.2890 resistance area and my outlook here is already bearish, for a slide through 1.2840. en route to 1.2750 and 1.2650 later on. Initial resistance is projected at 1.2890, followed by 1.2950.
Yesterday's slide after the unsuccessful test of 1.5260 has bottomed at 1.5075 and current intraday outlook is already bullish, for a rise through 1.5165, en route to 1.5260 high. Initial minor support is projected at 1.5087.
The rise after 1.5073 reversal failed to break through 1.5165 resistance and current intraday bias is negative, as the pair is heading for a test of 1.4980 support area. Due to the consolidation pattern above 1.4830 low on the senior frames, 1.4980 zone is a potential reversal area for one more leg towards 1.5260 hurdle.
Sharp reversal at 1.2743 signals, that the bias here has switched to bullish and probably the whole downtrend from 1.3710 is already over. My outlook is bullish above 1.2890 support, for a break through 1.2950, en route to 1.3050 mark.
Friday's upmove broke through 1.2950 and peaked few pips below 1.3050 major resistance. I favor a corrective pullback towards 1.2900 before the pair gathers momentum for the next upswing towards 1.3160. My intraday outlook is bearish below 1.3040, for 1.2950.
Although the pair hit a new high at 1.3065, I favor a downswing through 1.2990, towards 1.2950 support area, en route to 1.2890. Initial minor intraday resistance is projected at 1.3040.
Every dip here is corrective and the uptrend from 1.2740 is still intact, so my outlook is bullish, for a break through 1.3160, en route to 1.3300-20 resistance area. Initial intraday support is projected at 1.3065, followed by the crucial low at 1.3305.
Current slide from 1.3120 peak broke through the trend line at 1.3070, but until 1.3305 crucial level is intact, the bias here will remain bullish for 1.3160 and 1.3300 major resistance area.
Yesterday's break through 1.5340 led to a new peak at 1.5411 and current slide should be considered corrective as long as it remains limited above 1.5340-50 and the bias remains positive, for another leg upwards, to 1.5500 resistance area.
The recent break below 1.5340 signals, that a top is in place at 1.5410 high and the pair has entered a corrective phase towards 1.5240 and probably to 1.5180 before next leg upwards, to 1.5505. The intraday bias is negative for 1.5240 with a crucial level at 1.5380.
The outlook here remains bearish, for a slide towards 1.2950 support area and initial intraday resistance is projected at 1.3109. Minor intraday support is potted at 1.3020.
The rebound after 1.3000 continues to be corrective in nature, thus preceding next leg downwards, to 1.2950. Crucial resistance on the upside is 1.3110.
Last week's reversal at 1.5367 confirms, that the downtrend from 1.5410 high is still intact and current intraday outlook is negative below 1.5270 resistance, towards 1.5155 support zone.
The expected reversal below 100.00 has been confirmed and the outlook here is negative below 99.02 resistance area, for a slide towards 97.25 zone. Crucial on the upside is 99.46.
Yesterday's low at 98.47 set an end of the slide from 99.87, but I think, that current upmove is still a part of the consolidation pattern below 100.00 resistance area and my outlook is bearish, for a break through 99.20, en route to 98.40.
