[m.youssif]

EUR/USD's consolidation from 1.4519 is still in progress and deeper retreat might be seen. But downside should be contained by 1.4247 resistance turned support and bring another rise. Above 1.4159 will target 61.8% projection of 1.2873 to 1.386 from 1.3427 at 1.5024, which is close to 1.5 psychological level.

In the bigger picture, whole rise from 1.1875 is still in progress and should be targeting 1.5143 resistance and then 100% projection of 1.1875 to 1.418 from 1.2873 at 1.5279. Current development also affirms the case that medium term correction from 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 an impulsive wave that should take out 1.6039 high eventually. On the downside, break of 1.3860 support is needed to invalidate this view. Otherwise, outlook will remain bullish.

[m.youssif]

EUR/USD's consolidation from 1.4519 is still in progress and deeper retreat might be seen. But downside should be contained by 1.4247 resistance turned support and bring another rise. Above 1.4159 will target 61.8% projection of 1.2873 to 1.386 from 1.3427 at 1.5024, which is close to 1.5 psychological level.

In the bigger picture, whole rise from 1.1875 is still in progress and should be targeting 1.5143 resistance and then 100% projection of 1.1875 to 1.418 from 1.2873 at 1.5279. Current development also affirms the case that medium term correction from 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 an impulsive wave that should take out 1.6039 high eventually. On the downside, break of 1.3860 support is needed to invalidate this view. Otherwise, outlook will remain bullish.