The outlook remains positive, for a rise towards 1.2420-40 dynamic resistance. Crucial on the downside is 1.2330 and a violation of the latter will signal a reversal of the whole rise since 1.2210.
Yesterday's slide has bottomed at 1.2298 and my outlook is already bullish, for a rise towards 1.2420 area. Initial intraday resistance lies at 1.2350.
The reversal at 1.2413 has neutralized the positive outlook and signals, that the prolonged consolidation pattern below 1.2560 is still on the run. The intraday bias is bearish, for a break through 1.2340, towards 1.2280-60 zone.
Yesterday's sell-off reached a local low at 1.4170 and the corrective pattern above that level could challenge 1.4280 resistance before drowning towards 1.4120.
The massive sell-off has been renewed after the corrective pattern below 1.4250 and the bias is still bearish, for 1.4030 and 1.3960. Crucial on the lower frames is 1.4100 peak.
The recent sell-off reached the support zone around 1.3980 and the outlook is already positive, for a corrective rebound towards 1.4010 area. Initial minor resistance lies at 1.4040.
The rebound above 1.2060 has been a short-lived one and the resistance at 1.2160 managed to cap the upside, so the bias remains bearish, for a slide towards 1.1920.
The break through 109.50 static support signals a reversal of the whole rise from 106.80 and my outlook is bearish, for a slide through 109.00 support, towards 108.50, en route to 107.90.
The downtrend remains intact and the rebound after 1.1820 should be considered corrective, preceding a dip to 1.1720. Initial intraday resistance lies at 1.1900, followed by 1.1938, but crucial on the upside is 1.2000.
Yesterday's break through 1.1900 has violated the dynamic resistance of the whole slide since 1.2414 and the intraday bias is positive above 1.1870, for a rise towards 1.2000, en route to 1.2060 major hurdle.
