[m.youssif]

EUR/USD's rally resumes and reaches as high as 1.4313 so far today. Intraday bias is back on the upside and further rise should be seen towards 100% projection of 1.2873 to 1.386 from 1.3427 at 1.4414. On the downside, below 1.4217 minor support will turn bias neutral and bring retreat. But near term outlook will remain bullish as long as 1.4020 support holds.

In the bigger picture, the break of 1.4281 resistance firstly confirms that whole medium term rebound from 1.1875 has resumed. FUrther rise should now be seen towards 100% projection of 1.1875 to 1.418 from 1.2873 at 1.5279. Also, note that current development also affirms the case that medium term correction 1.6039 was completed with three waves down to 1.1875 and the long term up trend might be resuming. Decisive break of 1.5279 projection target will indicate that rise from 1.1875 is developing into and impulsive wave that should take out 1.6039 high. On the downside, break of 1.3427 support is needed to invalidate this view. Otherwise, outlook will remain bullish.

[m.youssif]

EUR/USD's rally resumes and reaches as high as 1.4313 so far today. Intraday bias is back on the upside and further rise should be seen towards 100% projection of 1.2873 to 1.386 from 1.3427 at 1.4414. On the downside, below 1.4217 minor support will turn bias neutral and bring retreat. But near term outlook will remain bullish as long as 1.4020 support holds.

In the bigger picture, the break of 1.4281 resistance firstly confirms that whole medium term rebound from 1.1875 has resumed. FUrther rise should now be seen towards 100% projection of 1.1875 to 1.418 from 1.2873 at 1.5279. Also, note that current development also affirms the case that medium term correction 1.6039 was completed with three waves down to 1.1875 and the long term up trend might be resuming. Decisive break of 1.5279 projection target will indicate that rise from 1.1875 is developing into and impulsive wave that should take out 1.6039 high. On the downside, break of 1.3427 support is needed to invalidate this view. Otherwise, outlook will remain bullish.