[m.youssif]

EUR/USD's rally resumes by taking out 1.4348 after brief retreat. Intraday bias is back on the upside for 100% projection of 1.2873 to 1.386 from 1.3427 at 1.4414. Break there will target 161.8% projection at 1.5024, which is close to 1.5 psychological level. On the downside, below 1.4240 minor support will flip bias back to the downside for deeper retreat towards 1.4020 support.

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 1.3860 support is needed to invalidate this view. Otherwise, outlook will remain bullish.

[m.youssif]

EUR/USD's rally resumes by taking out 1.4348 after brief retreat. Intraday bias is back on the upside for 100% projection of 1.2873 to 1.386 from 1.3427 at 1.4414. Break there will target 161.8% projection at 1.5024, which is close to 1.5 psychological level. On the downside, below 1.4240 minor support will flip bias back to the downside for deeper retreat towards 1.4020 support.

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 1.3860 support is needed to invalidate this view. Otherwise, outlook will remain bullish.