EUR/USD Daily Analysis
Intraday bias in EUR/USD stays on the downside for the moment. The corrective pattern from 0.9534 should have been completed with three waves up to 1.0092. A deeper decline would be seen to the 0.9534/9630 support zone. On the upside, above 0.9872 minor resistance will turn intraday bias neutral again first.
In the bigger picture, medium-term term bearishness is retained with failure to sustain above 55-day EMA (now at 0.9930). That is, a larger downtrend from 1.2348 (2021 high) is still in progress. A firm break of 0.9534 low will confirm this bearish case. For now, risk will stay on the downside as long as the 1.0092 resistance holds, in case of recovery.
