Sample Category Title

Daily Pivots: (S1) 1.5144; (P) 1.5282; (R1) 1.5494; More...

Intraday bias in EUR/AUD remains on the upside for the moment. Decisive break of 1.5396 key resistance carry larger bullish implication. Next target is 161.8% projection of 1.4281 to 1.4965 from 1.4716 at 1.5823. For now, further rally will remain in favor as long as 1.5047 support holds.

In the bigger picture, current development raises the chance of medium term bottoming at at 1.4281, on bullish convergence condition in daily MACD. Firm break of 1.5396 will bring stronger rally back to 1.6434 key resistance next. Nevertheless, rejection by 1.5396 will maintain medium term bearishness for another fall through 1.4281 at a later stage.

Daily Pivots: (S1) 0.9750; (P) 0.9775; (R1) 0.9808; More....

Intraday bias in EUR/CHF remains mildly on the upside for 0.9864 key resistance. Firm break there will solidify the case of medium term bottoming at 0.9407, and target 38.2% retracement of 1.1149 to 0.9407 at 1.0072. On the downside, below 0.9641 minor support will turn intraday bias neutral first.

In the bigger picture, as long as 0.9864 resistance holds, long term down trend from 1.2004 (2008 high) is expected to continue. Next target is 138.2% projection of 1.2004 to 1.0505 to 1.1149 at 0.9033. However, firm break of 0.9864 will confirm medium term bottoming, on bullish convergence condition in daily MACD. Stronger rally would then be seen back to 55 week EMA (now at 1.0188), even as a corrective rebound.

Daily Pivots: (S1) 1.3453; (P) 1.3559; (R1) 1.3614; More...

Intraday bias in USD/CAD remains on the downside at this point. Correction from 1.3832 could extend lower. But downside should be contained above 1.3222 resistance turned support to bring rebound. On the upside, break of 1.3832 will resume larger up trend to 161.8% projection of 1.2005 to 1.2947 from 1.2401 at 1.3925.

In the bigger picture, up trend from 1.2005 (2021 low) is still in progress. Based on current impulsive momentum, it could be resuming long term up trend from 0.9056 (2007 low). Whether it is or it isn't, retest of 1.4689 (2016 high) should be seen next. This will now remain the favored case as long as 1.3222 resistance turned support holds.

Daily Pivots: (S1) 0.6455; (P) 0.6501; (R1) 0.6551; More...

Intraday bias in AUD/USD remains neutral as consolidation from 0.6362 is extending. Stronger recovery cannot be ruled out. But upside should be limited well below 0.6698 support turned resistance. Break of 0.6362 will resume larger down trend to 100% projection of 0.7660 to 0.6680 from 0.7135 at 0.6155.

In the bigger picture, down trend form 0.8006 (2021 high) is expected to continue as long as 0.7135 resistance holds. With 61.8% retracement of 0.5506 (2020 low) to 0.8006 at 0.6461 firmly taken out, next target is 0.5506 low. Medium term momentum will now be closely monitored to gauge the chance of break of 0.5506.

Daily Pivots: (S1) 144.06; (P) 144.67; (R1) 145.17; More...

Intraday bias in USD/JPY remains neutral and consolidation from 145.89 could extend further. Further rally is expected as long as 139.37 resistance turned support holds. Break of 145.89 will target 147.68 long term resistance. On the downside, however, decisive break of 139.37 will confirm short term topping. Deeper decline would be seen back towards 130.38 support.

In the bigger picture, up trend from 101.18 is still in progress, as part of the whole up trend from 75.56 (2011 low). Further rise should be seen to 147.68 (1998 high). For now, break of 130.38 support is needed to be the first indication of medium term topping. Otherwise, outlook will stay bullish even in case of deep pull back.

Daily Pivots: (S1) 0.9741; (P) 0.9842; (R1) 0.9898; More...

Intraday bias in USD/CHF remains neutral at this point, as consolidation form 0.9964 is still extending. Further rally is in favor as long as 0.9694 support holds. On the upside, above 0.9964 will resume the rally from 0.9369 to retest 1.0063 high. On the downside, however, break of 0.9694 support will extend the corrective pattern from 1.0063 with another falling leg, towards 0.9478 support first.

In the bigger picture, current development suggests that up trend from 0.8756 (2021 low) is still in progress. Sustained break of 1.0063 will target 100% projection of 0.9149 to 1.0063 from 0.9369 at 1.0283, and then 1.0342 (2016 high). For now, this will remain the favored case as long as 0.9369 support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.1159; (P) 1.1247; (R1) 1.1408; More...

Intraday bias in GBP/USD stays on the upside. Rise from 1.0351 short term bottom would target 61.8% retracement of 1.2292 to 1.0351 at 1.1551. Strong resistance could be seen around 55 day EMA (now at 1.1614) to limit upside on first attempt. But sustained break there will pave the way to 1.2292 resistance. On the downside, below 1.1023 minor support will turn intraday bias back to the downside for 1.0351 instead.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

USDJPY is struggling to surpass the 145.00 psychological mark and have a closing day above it, switching the short-term picture from bullish to neutral.

The technical oscillators are suggesting a bearish move as the stochastic is moving towards the oversold zone, while the MACD is standing beneath its trigger line. The 20-day simple moving average (SMA) is acting as a strong support level and any bearish movements may push the market towards the long-term ascending trend line.

More declines may challenge the 50-day SMA near the 139.35 barrier and a break beneath these lines could open the way for the 137.40 and 135.55 barrier, changing the outlook to negative.

On the other hand, a successful climb above the 145.00 round number could add to the optimism for a retest of the previous peak of 145.90, which is a 24-year high. If buying interest intensifies then the pair may move towards the 146.83-147.70 restrictive zone.

All in all, USDJPY has been in a consolidation area since September 7; however, the broader outlook remains strongly bullish.

The Nasdaq 100 climbed after a decline in US job openings in August. The index bounced off a two-year low (10800) and a close above 11300 prompted short-term sellers to cover their positions. A rally above 11500 would further squeeze the short side and amplify the volatility. The support-turned-resistance 12010 near the 30-day moving average is a major congestion area where stiff selling could be expected. A failure to break free would indicate that the path of least resistance is still down with 11220 as a fresh support.

The New Zealand dollar rallied as the RBNZ raised its cash rate by 50bp. As the pair hovers above March 2020’s lows around 0.5500, the RSI’s oversold condition triggered a ‘buy-the-dips’ behaviour. Recent highs are a sign of waning selling pressure as the bears start to take profit. 0.5830 on the 20-day moving average is the resistance and its breach may put the psychological level of 0.6000 in sight. The recovery could gain traction from higher lows with the closest one being 0.5690, or a revisit of 0.5590 would reveal weakness.