Sample Category Title
DAX Consolidation In Place
Pivot (invalidation): 12600.00
Our preference Short positions below 12600.00 with targets at 12487.00 & 12440.00 in extension.
Alternative scenario Above 12600.00 look for further upside with 12650.00 & 12690.00 as targets.
Comment The RSI is below its neutrality area at 50% but reversing up.
USD/TRY The Bias Remains Bullish
Pivot (invalidation): 5.6990
Our preference Long positions above 5.6990 with targets at 5.7630 & 5.7860 in extension.
Alternative scenario Below 5.6990 look for further downside with 5.6640 & 5.6380 as targets.
Comment The RSI is above its neutrality area at 50%.
AUD/USD Under Pressure
Pivot (invalidation): 0.6980
Our preference Short positions below 0.6980 with targets at 0.6940 & 0.6920 in extension.
Alternative scenario Above 0.6980 look for further upside with 0.6995 & 0.7010 as targets.
Comment The RSI has broken down its 30 level.
USD/CAD Expect 1.3135
Pivot (invalidation): 1.3080
Our preference Long positions above 1.3080 with targets at 1.3115 & 1.3135 in extension.
Alternative scenario Below 1.3080 look for further downside with 1.3065 & 1.3045 as targets.
Comment The RSI calls for a bounce.
USD/CHF Supported By A Rising Trend Line
Pivot (invalidation): 0.9920
Our preference Long positions above 0.9920 with targets at 0.9960 & 0.9980 in extension.
Alternative scenario Below 0.9920 look for further downside with 0.9895 & 0.9880 as targets.
Comment The RSI is above its neutrality area at 50%.
USD/JPY Further Upside
Pivot (invalidation): 108.60
Our preference Long positions above 108.60 with targets at 109.00 & 109.15 in extension.
Alternative scenario Below 108.60 look for further downside with 108.40 & 108.25 as targets.
Comment The RSI is bullish and calls for further advance.
GBP/USD Expect 1.2480
Pivot (invalidation): 1.2530
Our preference Short positions below 1.2530 with targets at 1.2500 & 1.2480 in extension.
Alternative scenario Above 1.2530 look for further upside with 1.2540 & 1.2560 as targets.
Comment A break below 1.2500 would trigger a drop towards 1.2480.
EUR/USD Watch 1.1190
Pivot (invalidation): 1.1225
Our preference Short positions below 1.1225 with targets at 1.1205 & 1.1190 in extension.
Alternative scenario Above 1.1225 look for further upside with 1.1235 & 1.1255 as targets.
Comment The RSI calls for a new downleg.
USDJPY Holding Gains
The US dollar has made a strong upside break against the Japanese yen as the pair looks past the recent declines in global equity markets. The four-hour time frame shows a large bullish pattern, which holds a one hundred and seventy point upside projection. Technical indicators are also turning higher and lending support to the recent range breakout in the USDJPY pair.
The USDJPY pair is bullish while trading above the 107.60 level, key technical resistance is found at the 109.00 and 1.1000 levels.
If the USDJPY pair trades below the 108.60 level, key technical support is found at the 108.45 and 108.10 levels.
EURUSD 1.1180 Low In Focus
The euro has slipped back towards the worst trading levels of the month against the US dollar after the pair failed to move above the 1.1240 resistance area. The EURUSD pair could test towards the last important technical low, at 1.1180, if the 1.1205 level is broken. In summary, the next short-term directional breakout will open once the 1.1205 to 1.1240 range is broken.
The EURUSD pair is only bullish while trading above the 1.1240 level, key technical resistance is found at the 1.1255 and 1.1280 levels.
If the EURUSD pair trades below the 1.1205 level, key support is found at the 1.1180 and 1.1150 levels.
