Sample Category Title

Pivot (invalidation): 16.3200

Our preference Long positions above 16.3200 with targets at 16.4700 & 16.5200 in extension.

Alternative scenario Below 16.3200 look for further downside with 16.2400 & 16.1600 as targets.

Comment The RSI lacks downward momentum.

Pivot (invalidation): 1416.00

Our preference Long positions above 1416.00 with targets at 1429.00 & 1433.50 in extension.

Alternative scenario Below 1416.00 look for further downside with 1411.00 & 1406.00 as targets.

Comment The RSI calls for a rebound.

Daily Pivots: (S1) 0.8946; (P) 0.8967; (R1) 0.9008; More...

EUR/GBP's rebound from 0.8891 extends higher today. But consolidation from 0.9051 might still extend with another fall. Intraday bias remains neutral first. In case of another decline, downside should be contained by 38.2% retracement of 0.8489 to 0.9051 at 0.8836 to bring rebound. On the upside, break of 0.9051 will indicate rise resumption for 0.9101 key resistance next.

In the bigger picture, medium term decline from 0.9305 (2017 high) is seen as a corrective move. No change in this view. Current development argues that it might have completed with three waves down to 0.8472, just ahead of 38.2% retracement of 0.6935 (2015 low) to 0.9306 at 0.8400, after hitting 55 month EMA (now at 0.8545). Decisive break of 0.9101 resistance will confirm this bullish case. And this will be the preferred case as long as 55 week EMA (now at 0.8801) holds.

Pivot (invalidation): 5.6770

Our preference Short positions below 5.6770 with targets at 5.6500 & 5.6260 in extension.

Alternative scenario Above 5.6770 look for further upside with 5.7010 & 5.7180 as targets.

Comment As Long as the resistance at 5.6770 is not surpassed, the risk of the break below 5.6500 remains high.

Pivot (invalidation): 0.6920

Our preference Short positions below 0.6920 with targets at 0.6900 & 0.6885 in extension.

Alternative scenario Above 0.6920 look for further upside with 0.6935 & 0.6955 as targets.

Comment A break below 0.6900 would trigger a drop towards 0.6885.

Daily Pivots: (S1) 1.6046; (P) 1.6078; (R1) 1.6129; More...

No change in EUR/AUD's outlook as recovery from 1.5894 is in progress. But such recovery is seen as a corrective and thus, upside should be limited below 1.6231 resistance to bring fall resumption. Decline from 1.6448 is seen as the third leg of the consolidation pattern from 1.6765 high. Break of 1.5894 will target 1.5683 support and below. Nevertheless, firm break of 1.6231 will dampen this view and target 1.6448 resistance instead.

In the bigger picture, as long as 1.5346 support holds, medium term outlook will still remain bullish. Up trend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal and turn outlook bearish.

Daily Pivots: (S1) 1.1041; (P) 1.1052; (R1) 1.1066; More.....

EUR/CHF's recovery from 1.0962 short term bottom could extend higher. But upside should be limited limited by 1.1172 resistance to bring down trend resumption. On the downside, sustained break of 1.0962 will extend the fall from 1.2004 to 100% projection of 1.2004 to 1.1173 from 1.1476 at 1.0645 next.

In the bigger picture, current development firstly suggests that down trend from 1.2004 is still in progress. More importantly, it’s likely a long term down trend itself, rather than a correction. Outlook will remain bearish as long as 1.1476 resistance holds. EUR/CHF could target 1.0629 support and below.

Pivot (invalidation): 1.3175

Our preference Short positions below 1.3175 with targets at 1.3150 & 1.3135 in extension.

Alternative scenario Above 1.3175 look for further upside with 1.3200 & 1.3220 as targets.

Comment The index currently faces a challenging resistance area at 1.3175.

Pivot (invalidation): 0.9945

Our preference Short positions below 0.9945 with targets at 0.9910 & 0.9895 in extension.

Alternative scenario Above 0.9945 look for further upside with 0.9960 & 0.9980 as targets.

Comment Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Pivot (invalidation): 108.65

Our preference Short positions below 108.65 with targets at 108.40 & 108.25 in extension.

Alternative scenario Above 108.65 look for further upside with 108.75 & 108.85 as targets.

Comment A break below 108.40 would trigger a drop towards 108.25.