Sample Category Title

Daily Pivots: (S1) 1.2535; (P) 1.2586; (R1) 1.2683; More...

With 1.2414 minor support intact, rebound from 1.1986 could still extend higher. But again, such rise is seen as the third leg of the consolidation pattern from 1.1946. We'd expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually. On the downside, below 1.2414 minor support will turn bias to the downside for retesting 1.1946 low.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

Daily Pivots: (S1) 1.0716; (P) 1.0742 (R1) 1.0774; More.....

A temporary top is in place at 1.0744. Intraday bias in EUR/USD is turned neutral first. Above 1.0774 will extend the rise from 1.0339. But such rise is seen as a corrective move and should be limited by 1.0872 resistance. On the downside, below 1.0588 minor support will argue that it's completed and turn bias back to the downside for 1.0339 support.

In the bigger picture, whole down trend from 1.6039 (2008 high) is in progress. Such down trend is expected to extend to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. On the upside, break of 1.1298 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

Daily Pivots: (S1) 0.9963; (P) 0.9994; (R1) 1.0022; More.....

Intraday bias in USD/CHF is turned neutral with temporary low formed at 0.9958. With 1.0121 minor resistance intact, deeper decline is still expected. As noted before, rise from 0.9443 has completed at 1.0342 already, after failing to sustain above 1.0327 key resistance. Fall from there would now target 61.8% retracement of 0.9443 to 1.0342 at 0.9786 and below. On the upside, break of 1.0121 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will stay bearish in case of recovery.

In the bigger picture, rejection from 1.0327 resistance suggests that consolidation pattern from there is still in progress. Fall from 1.0342 is seen as the third leg and retest of 0.9443/9548 support zone could be seen. But we'd expect strong support from there to contain downside. At this point, we're still expect the larger rally to resume later to 38.2% retracement of 1.8305 to 0.7065 at 1.1359.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

Daily Pivots: (S1) 112.87; (P) 113.43; (R1) 113.82; More...

USD/JPY recovers mildly today but stays inside range of 112.51/115.61. Intraday bias stays neutral for the moment. Choppy fall from 118.65 is seen as a corrective move. In case of another decline, downside should be contained by 38.2% retracement of 98.97 to 118.65 at 111.13 to complete the correction and bring rebound. On the upside, above 115.61 will target a test on 118.65 first. Break will resume whole rise from 98.97 and target 125.85 key resistance.

In the bigger picture, price actions from 125.85 high are seen as a corrective pattern. The impulsive structure of the rise from 98.97 suggests that the correction is completed and larger up trend is resuming. Decisive break of 125.85 will confirm and target 61.8% projection of 75.56 to 125.85 from 98.97 at 130.04 and then 135.20 long term resistance. Rejection from 125.85 and below will extend the consolidation with another falling leg before up trend resumption.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

Daily Pivots: (S1) 142.02; (P) 142.86; (R1) 143.91; More...

Intraday bias in GBP/JPY remains on the upside as rebound from 136.33 extends today. Corrective fall from 148.42 should have completed at 136.44 already. Further rally should be seen to retest 148.42 first. Break will extend the larger rise from 122.36 and target 150.42 fibonacci level next. n the downside, below 140.74 minor support will turn bias back to the downside for 136.44.

In the bigger picture, price actions from 122.36 medium term bottom are seen as developing into a corrective pattern. Upside is so far limited below 38.2% retracement of 195.86 to 122.36 at 150.42 for setting the medium term range. At this point, we don't expect a break of 122.36 in near term and the corrective pattern would extend for a while. Though, sustained break of 150.42 will target 61.8% retracement at 167.78.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

Daily Pivots: (S1) 121.48; (P) 121.87; (R1) 122.12; More...

Intraday bias in EUR/JPY stays neutral as consolidation from 124.08 extends. Rebound from 109.20 is not finished yet. Break of 124.08 will extend such rise and target 126.09 key resistance next. Meanwhile, below 120.54 will target 118.45 cluster support (38.2% retracement of 109.20 to 124.08 at 118.39). We'd expect strong support from there to contain downside.

In the bigger picture, price actions from 109.20 medium term bottom are seen as part of a medium term corrective pattern from 149.76. There is prospect of another rise towards 126.09 key resistance level before completion. But even in that case, we'd expect strong resistance between 126.09 and 141.04 to limit upside, at least on first attempt. Sustained trading below 55 day EMA will pave the way to retest 109.20.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

Daily Pivots: (S1) 0.8475; (P) 0.8527; (R1) 0.8558; More...

The firm break of near term channel argue that corrective rise form 0.8303 has completed at 0.8851 already. Break of 0.8449 support will confirm this case. In that case, whole corrective fall from 0.9304 should have started the third leg through 0.8303 to 0.8116 support. In case of another rise, we'd now expect strong resistance at 61.8% retracement of 0.9304 to 0.8303 at 0.8922 to limit upside and bring near term reversal.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. Deeper fall cannot be ruled out yet. But we'd expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside. Overall, the corrective pattern would take some time to complete before long term up trend resumes at a later stage. Break of 0.9304 will pave the way to 0.9799 (2008 high).

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

Daily Pivots: (S1) 1.4125; (P) 1.4172; (R1) 1.4201; More...

EUR/AUD breached 1.4251 minor resistance briefly but failed to sustain above. Intraday bias stays neutral first. Near term outlook stays bearish as the corrective decline from 1.6587 is still in progress. Below 1.4025 will target 1.3671 key support level. We'd expect downside to be contained there to bring reversal. Meanwhile, above 1.4251 minor resistance will turn focus back to 1.4271 resistance.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a consolidative pattern. 50% retracement of 1.1602 to 1.6587 at 1.4095 was already met. While further fall cannot be ruled out, we'd expect strong support above 1.3671 to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will be the first sign of resumption of up trend from 1.1602 and target retesting of 1.6587 high first.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

Daily Pivots: (S1) 1.0730; (P) 1.0737; (R1) 1.0746; More...

EUR/CHF drops sharply today but stays in range of 1.0677/0762. Intraday bias remains neutral first. The corrective price actions from 1.0677 affirmed near term bearishness. Break of 1.0677 will extend recent decline to 1.0620 key support level. On the upside, above 1.0762 will turn focus back to 1.0897 resistance. But decisive break there is needed to confirm trend reversal. Otherwise, outlook will stay bearish for another fall later.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Such correction is still in progress and retest of 38.2% retracement of 0.9771 to 1.1198 at 1.0653 could be seen. Sustained trading below 1.0653 will target 50% retracement at 1.0485. Meanwhile, break of 1.0897 resistance will argue that the larger up trend is finally resuming for above 1.1198.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

Daily Pivots: (S1) 1.3032; (P) 1.3097; (R1) 1.3134; More...

Intraday bias in USD/CAD stays neutral for the moment. At this point, we're still slightly favoring the case that consolidation pattern from 1.3588 is completed with three waves down to 1.3017. Above 1.3387 will target 1.3598 resistance. Break there will extend the whole choppy rise from 1.2460 to next fibonacci level at 1.3838. However, break of 1.3017 will indicate completion of rise from 1.2460 and turn outlook bearish.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. The first leg has completed at 1.2460. The second leg is still in progress and could target 61.8% retracement of 1.4689 to 1.2460 at 1.3838. As rise from 1.2460 is seen as a corrective move, we'd look for reversal signal above 1.3838. Meanwhile, break of 1.3017 will likely start the third leg to 1.2460 and below.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box