EUR/USD Daily Outlook – ActionForex

Daily Pivots: (S1) 1.1532; (P) 1.1565; (R1) 1.1605; More….

Intraday bias in EUR/USD remains neutral at this point. With 1.1666 cluster resistance (38.2% retracement of 1.2081 to 1.1408 at 1.1665) intact, further decline is still in favor. On the downside, below 1.1408 will resume the fall from 1.2081 to 38.2% retracement of 1.0176 to 1.2081 at 1.1353. However, decisive break of 1.1666 will argue that the fall from 1.2081 has completed, and turn bias back to the upside for 61.8% retracement of 1.2081 to 1.1408 at 1.1824.

In the bigger picture, prior break of 55 W EMA (now at 1.1495) should confirm rejection by 1.2 key cluster resistance level. The whole up trend from 0.9534 (2022 low) might have completed as a three wave corrective rise too. Deeper fall is expected to long term channel support (now at 1.0528). Meanwhile, risk will stay on the downside as long as 1.2081 holds, even in case of strong rebound.

Source link

Visited 1 times, 1 visit(s) today

Related Article

Silver may find floor at 60, but break risks deeper fall to 50

Silver may find floor at 60, but break risks deeper fall to 50

Silver is approaching a critical support zone as its “dual role” as a monetary and industrial asset continues to diverge. Tightening expectations on global central banks, driven by the energy shock, are weighing on its monetary side, leaving the 64 support zone increasingly vulnerable. While industrial demand and persistent physical deficit may offer a floor

GBP/USD Weekly Forecast - 22/03: Faces Volatility (Chart)

GBP/USD Weekly Forecast – 22/03: Faces Volatility (Chart)

Created on March 22, 2026 The GBP/USD went into this weekend slightly above the 1.33400 mark, which intriguingly is near the 1.33400 vicinity seen last Monday in the currency pair, which was then followed by a variety of reversals and volatility. The Iranian war has begun its forth week. Behavioral sentiment in the broad markets

EUR/USD Weekly Outlook - ActionForex

EUR/USD Weekly Outlook – ActionForex

EUR/USD recovered last week but upside is capped below 1.1666 cluster resistance (38.2% retracement of 1.2081 to 1.1408 at 1.1665). Initial bias remains neutral this week, and further decline is in favor. On the downside, below 1.1408 will resume the fall from 1.2081 to 38.2% retracement of 1.0176 to 1.2081 at 1.1353. However, decisive break

Gold Extends Lower as Wave (5) Approaches

Gold Extends Lower as Wave (5) Approaches

Gold (XAUUSD) continues to trade lower as the bearish sequence remains active. The decline from the recent peak is unfolding in a clear impulsive structure, which shows sellers still control the trend. From the high, Gold completed a larger corrective structure and then turned sharply lower. The decline is progressing in a five-wave impulse. Within

Global FX Derivatives Average Daily Turnover Reached $6.6 Trillion

Global FX Derivatives Average Daily Turnover Reached $6.6 Trillion

Global FX derivatives average daily turnover reached $6.6 trillion in April 2025, roughly double its level in April 2013. While FX swaps remain the largest segment in absolute terms, recent growth has been driven by outright forwards and FX options, leading to a shift in product composition. FX derivatives trading is concentrated in a small

How to Choose a Reliable Forex Broker in 2026

How to Choose a Reliable Forex Broker in 2026

There is continued rapid growth in the size of the global Foreign exchange market as well as in the number of individual retail participants, with more than ever in Forex being recorded in the year of 2026. Forex daily trading volume already exceeds trillions of dollars each day, with many new brokerages coming online every

0
Would love your thoughts, please comment.x
()
x