Sample Category Title

Daily Pivots: (S1) 1.2081; (P) 1.2125; (R1) 1.2154; More....

USD/CAD is staying consolidation above 1.2061 temporary low. Intraday bias remains neutral first. At this point, we'd remain cautious on strong support from 1.2048 long term fibonacci level to bring sustainable rebound. But still, break of 1.2439 support turned resistance is needed to be the first sign of trend reversal. Otherwise, outlook will remain bearish. Firm break of 1.2048 will pave the way to next fibonacci level at 1.1424.

In the bigger picture, current downside acceleration is raising the chance that whole long term rise from 0.9406 (2011 low), and that from 0.9056 (2007 low) is completed at 1.4689. Focus is now on 50% retracement of 0.9406 to 1.4869 at 1.2048. As long as this level holds, we'd still favor that case that fall from 1.4689 is a correction. However, firm break of 1.2048 will indicate that fall fro 1.4689 is at least a medium term down trend and should target 61.8% retracement at 1.1424 and below.

Daily Pivots: (S1) 0.8012; (P) 0.8035; (R1) 0.8052; More...

Intraday bias in AUD/USD remains neutral for consolidation below 0.8124 temporary top. Overall, as long as 0.7807 support holds, near term outlook remains bullish for further rally. Above 0.8124 will target 100% projection of 0.6826 to 0.7833 from 0.7328 at 0.8335 next. However, firm break of 0.7807 will indicate near term reversal and turn bias back to the downside for 0.7328 key support.

In the bigger picture, rise from 0.6826 medium term bottom is still in progress. At this point, there is no confirmation of trend reversal yet and we'll continue to treat such rebound as a corrective pattern. But in any case, break of 55 month EMA (now at 0.8090) will target 38.2% retracement of 1.1079 to 0.6826 at 0.8451. Break of 0.7807 support is needed to to be the first sign of completion of the rebound. Otherwise, further rise is now in favor.

Daily Pivots: (S1) 1.4860; (P) 1.4904; (R1) 1.4928; More....

With 1.5042 minor resistance intact, deeper decline is expected in EUR/AUD to 1.4732 support. Decisive break there confirm that fall from 1.5173 is the third leg of consolidation pattern from 1.5226. In that case, further fall should be seen to 1.4421 again. But we'd expect strong support from there to contain downside and bring rebound. On the upside, above 1.5042 minor resistance will turn bias back to the upside for 1.5173/5226 resistance zone instead.

In the bigger picture, we're holding on to the view that corrective decline from 1.6587 medium term has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. The corrective structure of the price actions from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, break of 1.4421 support will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

Daily Pivots: (S1) 0.9062; (P) 0.9091; (R1) 0.9108; More

EUR/GBP's fall from 0.9305 short term top is still in progress. Intraday bias remains on the downside for 55 day EMA (now at 0.9022). Sustained trading below there will likely start the third leg of the consolidation from 0.9304 and target 38.2% retracement of 0.8312 to 0.9305 at 0.8926 first. On the upside, above 0.9202 minor resistance will turn bias back to the upside for 0.9305 resistance instead.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. It's uncertain whether it is finished yet. But in case of another fall, we'd expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside and bring rebound. Whole up trend from 0.6935 is expected to resume after consolidation from 0.9304 completes. Firm break of 0.9799 high will target 61.8% projection of 0.5680 to 0.9799 from 0.6935 at 1.1054.

Daily Pivots: (S1) 1.1389; (P) 1.1412; (R1) 1.1454; More...

Outlook in EUR/CHF remains unchanged. Consolidation from 1.1537 is still in progress and intraday bias remains neutral. More sideway trading could be seen. On the upside, break of 1.1537 resistance will confirm resumption of larger rally from 1.0629. In that case, EUR/CHF should target 1.2 key resistance level next. On the downside, firm break of 38.2% retracement of 1.0830 to 1.1537 at 1.1267 will extend the correction to 61.8% retracement at 1.1100 before completion.

In the bigger picture, long term rise from SNB spike low back in 2015 is still in progress. EUR/CHF should now be heading back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1087 resistance turned support holds.

The USD/JPY rallied aggressively in the yesterday's trading session and invalidated the Friday's breakdown below the 108.12 static support. Is still trapped within the extended sideways movement and should approach and reach the third warning line (WL3) of the major descending pitchfork. A valid breakout above the WL3 will confirm an increase towards the 23.6% retracement level.

Price has found strong support at the first warning line (WL1) of the major ascending pitchfork and now has turned to the upside again. Has managed to break above the red uptrend line, signaling that the bulls are very strong. GBP/JPY continues to move in range on the short term, technically it should approach and reach the upside line of the extended sideways movement after the failure to approach and reach the downside line of this pattern.

The GBP/USD changed little in the start of the week, but most likely we'll have a significant move in the upcoming hours as the United Kingdom is to release the inflation data. Price has found temporary resistance on Friday and now could drop a little if the UK's data will disappoint later. The USDX increased in the yesterday's session and have forced the GBP/USD to decrease a little.

The dollar needs a strong support from the United States economy to be able to dominate the currency market again. The USD's rebound is natural only because is too oversold to drop further without a minor bounce back.

The UK's CPI is expected to increase by 2.8% in August and could beat the 2.6% in July, while the Core CPi should increase by 2.5%, exceeding the 2.4% in the former reading period.

Price moves upwards within the ascending channel, so the perspective remains bullish on the Daily chart. GBP/USD has found temporary resistance at the first warning line (wl1) of the minor ascending pitchfork and much below the 1.3266 previous high. The GBP/USD will be driven by the fundamental factors in the upcoming hours, so the direction is still uncertain on the short term.

A failure to climb above the 1.3266 previous high will signal another leg lower. Technically should reach the upside line of the ascending channel and even to jump above it after the failure to approach and retest the downside line of this pattern.

The Dollar Index Registers a 'U-shaped' Rebound. The greenback managed to catch a decent bounce as worries over North Korea and Hurricane Irma receded while U.S. officials tried to keep the spotlight on tax reform.

Dollar Pulls Away from 2-1/2-yr Low Vs Euro as Risk Sentiment Improves. The greenback held to large gains on Tuesday following a sharp rebound against the euro. The euro was little changed at $1.1962 after shedding 0.7 percent overnight. The common currency had reached $1.2092, its highest since January 2015, on Friday when the dollar suffered a broad retreat.

Dollar Sharply Rebounds Against Yen. The yen slumped back in the losers' bench as risk-on vibes were in play and traders cut down on their lower-yielding holdings. The dollar was steady at 109.345 yen after rallying 1.4 percent overnight, its biggest one-day surge since mid-January. It had slumped to a 10-month low of 107.320 yen on Friday, when Hurricane Irma threatened Florida and as financial markets braced for North Korea's founding day on Sept. 9.

Franc Stays Flat After Rally. The Swiss franc, often sought in times of global risk aversion along with the yen, was flat at 0.9558 per dollar after its rally to a two-year high of 0.9421 on Friday.

Oil Positively-Correlated Canadian Scored Strong Gains. The Loonie is already being supported by hawkish BOC expectations but it got another kick higher from expectations of another OPEC deal extension.

Pound Gains Vs Euro Ahead of Thursday's BoE Policy Meeting. Sterling fared better against the euro, aided by speculation that the Bank of England may sound more hawkish on interest rates in defense of the currency at its policy meeting on Thursday. The pound hovered close to a one-month high of 90.75 pence per euro set overnight.

The Australian Dollar Edges Down After Its Rally on Friday. The Australian dollar was 0.05 percent lower at $0.802 , extending its retreat from a two-year peak of $0.8125 scaled on Friday.

Oil Rallies on Potential OPEC Deal Extension. Crude oil is also in the green so far, thanks to talks of an extension on the OPEC deal extension. Recall that the oil cartel already agreed to keep a cap on production six months longer than their original end-date to March 2018 in an effort to ensure that the commodity price stays supported.

Traders Unwound Their Safe-Haven Holdings. Safe havens have been lackluster these past two days as capital returned back to risky assets. Precious metals returned some of their recent gains. The gold price tumbled 1.5% to the US$1,326 area.

Daily Pivots: (S1) 130.15; (P) 130.52; (R1) 131.10; More...

No change in EUR/JPY's outlook and intraday bias stays neutral. On the downside, break of 129.36 will turn bias to the downside for 127.55 support first. Firm break there will indicate near term reversal and deeper fall would be seen back to 122.39/125.80 support zone. In any case, we'd expect more corrective trading with risk of another fall, as long as 131.69 holds. But firm break of 131.69 will extend the medium term rise to 134.20 fibonacci level next.

In the bigger picture, current rise from 109.03 is seen as at the same degree as the down trend from 149.76 (2014 high) to 109.03 (2016 low). as long as 124.08 resistance turned support holds, further rise is expected to 61.8% retracement of 149.76 to 109.03 at 134.20. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. However, firm break of 124.08 will argue that rise from 109.03 is completed and turn outlook bearish.