The impulsive rise from 1.5563 led to new peak at 1.5718 and current pullback should be considered corrective, preceding another leg upwards, to 1.5800 area.
Yesterday's rise broke through 1.1216 peak and managed a precise test of 1.1295 resistance zone. The overall outlook remains positive, for further rise towards 1.1465. Key support on the downside is 1.1216 and this area should provide a reliable base for the next upswing.
Yesterday's break through 1.1500 area led to fast rise to 1.1720 resistance and currently the trading is already in a consolidation mode, struggling above 1.1498 support. I favor a break through the latter to initiate another corrective leg towards 1.1296 zone. Initial intraday support lies at 1.1400.
A reversal has been confirmed at yesterday's peak at 1.5822 and my outlook is already negative, for a break through 1.5630 crucial low, en route to 1.5540 support zone. Initial intraday resistance lies at 1.5720.
The upmove is still on track and while the 120.30 crucial support is intact, there will be a risk of a tight test at 122.30 resistance zone. Minor intraday resistance lies at 121.85.
My outlook here remains positive, for a break through 1.1308 resistance area, towards 1.1400, en route to 1.1565. Key support on the downside is 1.1180 low.
The break through 119.70 confirmed a reversal at 120.60 and the bias is bearish, for a slide towards 118.40. Initial intraday resistance lies at 119.70.
The downtrend reached a local low at 1.5170 support zone and current rebound will seek a test of 1.5330 resistance area. The latter is crucial for the whole slide since 1.5820 high.
A reversal has been confirmed at 1.5170 low and the outlook is bullish, for a rise towards 1.5450, en route to 1.5630 area. Initial intraday support lies at 1.5330, followed by 1.5220.
The consolidation pattern below 1.5415 is still underway and the static support at 1.5330 should provide a reliable base for another upswing towards 1.5630.
The break through 1.1225 confirms the positive bias and the outlook here remains bullish, for a violation of 1.1330 resistance, en route to 1.1408 area. Initial support lies at 1.1230, followed by the crucial low at 1.1170.
Yesterday's slide from 1.1372 signals a minor reversal and the intraday bias is negative below 1.1330, for another corrective dip towards 1.1230 support zone.
The fluctuations due to the highly anticipated FOMC meeting later today led to an already confirmed local bottom at 1.1212. Despite the typical uncertainty, surrounding fundamental events of such magnitude, the technical bias here is already bullish, for a break through 1.1325 static resistance, en route to 1.1565. Minor intraday support lies at 1.1265.
The reversal at 121.00 signals, that the uptrend from 119.39 is complete and my outlook is already bearish, for a break through the mentioned low, en route to 118.50. Key intraday resistance lies at 120.35.
The recent break through 1.1370 signals, that a top is in place at 1.1460 and the bias is already bearish, for a slide towards 1.1210 area. Initial resistance lies at 1.1330-50 zone and crucial on the upside is 1.1387.
The downtrend here remains intact and with the intraday resistance at 1.1212 the outlook is bearish, for another leg downwards, to 1.1086 low. Crucial on the upside is 1.1265 area.
The overall downtrend remains intact, with a risk of further depreciation towards 1.1012 area. Initial intraday resistance lies at 1.1150, followed by the crucial zone at 1.1212.
