The EURUSD had a significant bearish momentum yesterday broke below the range area as you can see on my daily chart below. The bias is bearish in nearest term testing 1.2175 support area. Immediate resistance is seen around 1.2300/30 region. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear.
My major technical outlook remains bullish but a clear break and daily close below 1.2175 could trigger a deeper bearish correction testing the trend line support. On the upside, we need a clear break above 1.2537 to resume the major bullish trend.
The EURUSD was indecisive yesterday. The bias remains bearish in nearest term testing 1.2175 region as a part of the bearish correction scenario after failed to break above 1.2537 and fell below the range area as you can see on my daily chart below. A clear break and daily/weekly close below 1.2175 could trigger further bearish pressure testing the trend line support next week.
Immediate resistance is seen around 1.2300/30 area. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. My major bullish outlook remains valid but need a clear break above 1.2537 to resume the major bullish trend.
The EURUSD had a bearish momentum last week bottomed at 1.2204. The bias is bearish in nearest term testing 1.2175 support area. Immediate resistance is seen around 1.2330. A clear break above that area could lead price to neutral zone in nearest term testing 1.2400 area but key resistance is seen around 1.2537.
On the downside, a clear break below 1.2175 would expose the trend line support region. As long as stay above the trend line support my major bullish outlook remains valid but need a clear break above 1.2537 to resume the major bullish trend.
The EURUSD continued its bullish momentum yesterday, broke above 1.2330 resistance, topped at 1.2370 and hit 1.2385 earlier today in Asian session. The bias remains bullish in nearest term testing 1.2450 – 1.2475 area.
Immediate support is seen around 1.2330. A clear break back below that area could lead price to neutral zone in nearest term but would keep the bearish correction phase alive and kicking testing 1.2280 area. On the upside, a clear break and daily close above 1.2475 would retest 1.2537 key resistance which need to be clearly broken to the upside to resume the major bullish trend.
The EURUSD continued its bearish momentum yesterday bottomed at 1.2186 and hit 1.2182 earlier today in Asian session. The bias remains bearish in nearest term testing 1.2175. A clear break below that area could trigger further bearish pressure testing the trend line support and 1.2090 region which is a good place to buy with a tight stop loss as a clear break below the trend line support would invalidate the major bullish trend.
Immediate resistance is seen around 1.2260. A clear break and daily close above that area could lead price to neutral zone in nearest term testing 1.2320/60 region but as long as stay below 1.2537 the bearish correction phase should remain valid.
The EURUSD had a bullish momentum yesterday topped at 1.2272 and hit 1.2279 earlier today in Asian session after failed to make a clear break below 1.2175 support area as you can see on my daily chart below. The bias is bullish in nearest term testing 1.2360 region but as long as stay below 1.2537 price is still in a valid bearish correction phase.
Immediate support is seen around 1.2225. A clear break below that area could lead price to neutral zone in nearest term retesting 1.2175 support area. On the upside, a clear break and daily/weekly close above 1.2360 would retest 1.2537 key resistance next week.
The EURUSD attempted to push lower last week slipped below 1.2175 but whipsawed to the upside and closed higher at 1.2317. My major bullish outlook remains valid, but as long as stay below 1.2537 price is still in a bearish correction/consolidation phase. The bias is neutral in nearest term.
Immediate resistance is seen around 1.2360. A clear break and daily close above that area could trigger further bullish pressure testing 1.2435 region before retesting 1.2537. Immediate support is seen around 1.2270. A clear break and daily close below that area could trigger further bearish pressure retesting 1.2175 area. Fundamental focus will be on the ECB press conference on Thursday and US NFP number on Friday.
The EURUSD was indecisive yesterday. Price attempted to push lower bottomed at 1.2268 but whipsawed to the upside, closed higher at 1.2334 and hit 1.2362 earlier today in Asian session. The bias is bullish in nearest term especially if price able to make a clear break above 1.2360 testing 1.2435 area.
Immediate support is seen around 1.2325. A clear break below that area could lead price to neutral zone in nearest term retesting 1.2268 region. On the upside, a clear break and daily close above 1.2435 would retest 1.2537 key resistance. Overall I remain bullish but need a clear break above 1.2537 to potentially end the current bearish correction phase. Fundamental focus will be on the ECB press conference on Thursday and US NFP number on Friday.
The EURUSD had another indecisive movement last week. Price attempted to push higher topped at 1.2445 but whipsawed to the downside and closed lower at 1.2303. The bias is neutral in nearest term probably with a little bearish bias. Immediate support is seen around 1.2270. A clear break below that area could trigger further bearish pressure testing 1.2175 and the trend line support area.
Immediate resistance is seen around 1.2360. A clear break above that area could trigger further bullish pressure retesting 1.2445 region. My major bullish outlook remains valid but price has been trapped between 1.2537 – 1.2175 range area for eight weeks now and we need a clear break from that range area to see clearer direction.
The EURUSD had a bullish momentum yesterday topped at 1.2407. Price broke above the upper line of the rising wedge formation as you can see on my H1 chart below, which invalidates the rising wedge bearish scenario. The bias is bullish in nearest term retesting 1.2445 resistance area. Immediate support is seen around 1.2360.
A clear break below that area could lead price to neutral zone in nearest term testing 1.2315/00 region. On the upside, a clear break and daily close above 1.2445 would retest 1.2537 key resistance which need to be clearly broken to the upside to end the bearish correction/consolidation phase and resume the major bullish trend.
