The EURUSD was indecisive yesterday. The bias is neutral in nearest term. There are no changes in my technical outlook on daily chart as price is still moving back and forth inside a 360-pip range area between 1.2537 – 1.2175. On H1 chart as you can see on my H1 chart below, price is still moving above the EMA 200 and a trend line support suggests a bullish bias. Price slipped above the bearish channel earlier today, support the bullish bias.
Immediate support is seen around 1.2346 (yesterday’s low and H1 EMA 200). A clear break below that area would erase the H1 time frame bullish bias testing 1.2300 or lower. Immediate resistance is seen around 1.2445. A clear break and daily close above that area would retest 1.2537 key resistance which need to be clearly broken to the upside to resume the major bullish trend.
The EURUSD had a significant bearish momentum yesterday fell below the trend line support and H1 EMA 200 as you can see on my H1 chart below. The bias is bearish in nearest term testing 1.2250 support area. A clear break below that area would expose 1.2175 key support and the major trend line support area which is a good place to buy with a tight stop loss as a clear break below 1.2175 would invalidate my major bullish trend.
Immediate resistance is seen around 1.2335/50 region. A clear break above that area could lead price to neutral zone in nearest term testing 1.2400 area.
The EURUSD had another indecisive movement last week. Price attempted to push higher topped at 1.2412 but closed lower at 1.2287. My major bullish outlook remains valid, but we have a clear bearish structure on H1 chart triggered by the appearance of the double top formation, followed by the break below the trend line support and the H1 EMA 200 last week. The bias is bearish in nearest term testing 1.2250. A clear break below that area would expose 1.2175 key support and the major trend line support which is a good place to buy with a tight stop loss as a clear break below the major trend line support would invalidate my major bullish outlook.
Immediate resistance is seen around 1.2295. A clear break above that area could lead price to neutral zone in nearest term but as long as stay below 1.2335 the overall H1 time frame bias remains bearish.
The EURUSD had a bullish momentum yesterday topped at 1.2358. The bias is bullish in nearest term. Price is moving back above the H1 EMA 200 suggests a potential bullish scenario testing the trend line resistance as you can see on my H1 chart below located around 1.2380 region which is a good place to sell with a tight stop loss as a clear break above the trend line resistance would retest 1.2445 region.
Immediate support is seen around 1.2310. A clear break below that area would retest 1.2250 support area but key support remains at 1.2175 and the major trend line support. My major bullish scenario remains valid but from a daily chart perspective price is still trapped inside a 360-pip range area between 1.2175 – 1.2537 for almost 10 weeks now.
The EURUSD failed to continue its bullish momentum yesterday bottomed at 1.2238. The bias is bearish in nearest term testing the major trend line support and 1.2175 key support which is a good place to buy with a tight stop loss as a clear break below 1.2175 would invalidate the major bullish trend.
Immediate resistance is seen around 1.2310. A clear break back above that area could lead price to neutral zone in nearest term but only a violation to the trend line resistance would erase the H1 time frame overall bearish corrective bias.
The EURUSD had a bullish momentum yesterday topped at 1.2349 and hit 1.2368 earlier today in Asian session. Price slipped above the trend line resistance following a break above the H1 EMA 200 as you can see on my H1 chart below suggests a potential bullish outlook. The bias is bullish in nearest term testing 1.2445 region.
Immediate support is seen around 1.2310 area. A clear break back below that area could lead price to neutral zone in nearest term but would keep the H1 chart bearish bias alive and kicking retesting 1.2250 but key resistance remains at the major trend line support and 1.2175 area. On the upside, a clear break above 1.2445 would retest 1.2537 key resistance.
The EURUSD attempted to push higher yesterday, topped at 1.2387, slipped above the trend line resistance but whipsawed to the downside and closed lower back below the trend line resistance as you can see on my H1 chart below. This fact creates a false breakout bearish scenario but we need a consistent movement back below the H1 EMA 200 (1.2320) to send the pair lower testing 1.2285 – 1.2240 before testing the major trend line support and 1.2175 key support area.
Immediate resistance is seen around 1.2387. A clear break and daily/weekly close above that area would expose 1.2445 – 1.2537 region next week.
The EURUSD had another indecisive movement last week. Price has been moving sideways inside a 360-pip range area between 1.2537 – 1.2175 for 10 weeks now. The bias is neutral in nearest term. From another technical perspective as you can see on my H1 chart below, we have some tops printed after price move above the EMA 200 just to send price back below the EMA 200 (and the way around). This is a normal situation in a choppy/trendless market condition. Now price has formed another potential top at 1.2385 region (blue rectangle number four on my chart below) suggests another potential downside pullback.
Immediate support is seen around 1.2350 followed by 1.2300. On the upside, a clear break above 1.2385 would expose 1.2445 region but key resistance remains at 1.2537. My major outlook remains bullish.
The EURUSD had a bullish momentum yesterday, broke above 1.2385 resistance area as you can see on my H4 chart below, topped at 1.2462. The bias is bullish in nearest term retesting 1.2537 key resistance which need to be clearly broken to the upside to resume the major bullish scenario.
Immediate support is seen around 1.2385. A clear break back below that area could lead price to neutral zone in nearest term testing 1.2350 or lower. On the upside, a clear break and daily close above 1.2537 would expose 1.2600/25 region. Overall I remain bullish.
The EURUSD failed to continue its bullish momentum yesterday, slipped below 1.2385 but still unable to move consistently below that support and hit 1.2419 earlier today in Asian session. The bias is neutral in nearest term. Immediate support remains around 1.2385. A clear break below that area could trigger further bearish pressure testing 1.2350 – 1.2300 region.
Immediate resistance is seen around 1.2440 followed by 1.2475 but key resistance remains at 1.2537 region which need to be clearly broken to the upside to end the current consolidation phase and resume the major bullish scenario.
