Daily pivots: (S1) 1.1180; (P) 1.1219; (R1) 1.1271; More …
Intraday bias in EUR / USD becomes neutral with the 4 hour MACD crossing below the signal line. Further increase will remain mild in favor as long as 1,1115 support holds. Breaks of 1.1257 will target a test of 1.1496 key resistance next. A fixed breach that will result in greater bullish consequences. On the downside, through a rupture of 1.1115 minor support, the case will revive that price action from 1.0635 is only a corrective pattern. Intraday bias will return to the downside of 1,1008 support.
In the bigger picture, as long as 1,146 resistance holds, there should continue to be a downward trend from 1.2555 (high 2018). The next target is 1.0339 (low in 2017). However, a sustained break of 1.1496 would argue that such a downtrend has ended. Increase from 1.0635 could then be seen as the third leg of the pattern from 1.0339. In this case, the prospect will be turned to re-test of 1.2555.
