Sample Category Title

Pivot (invalidation): 0.9885

Our preference Long positions above 0.9885 with targets at 0.9930 & 0.9950 in extension.

Alternative scenario Below 0.9885 look for further downside with 0.9860 & 0.9840 as targets.

Comment A support base at 0.9885 has formed and has allowed for a temporary stabilisation.

Pivot (invalidation): 2972.00

Our preference Long positions above 2972.00 with targets at 3001.00 & 3017.00 in extension.

Alternative scenario Below 2972.00 look for further downside with 2958.00 & 2944.00 as targets.

Comment The RSI is bullish and calls for further upside.

Daily Pivots: (S1) 1.2476; (P) 1.2532; (R1) 1.2583; More....

Intraday bias in GBP/USD remains on the downside as this point. Fall from 1.3381 has just resumed and should now target 1.2391 low. Firm break there will resume larger down trend. On the upside, above 1.2587 minor resistance will turn intraday bias neutral first. But near term outlook will stay bearish as long as 1.2783 resistance holds.

In the bigger picture, down trend from 1.4376 (2018 high) is still in progress. Break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don't expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Pivot (invalidation): 12600.00

Our preference Short positions below 12600.00 with targets at 12487.00 & 12399.00 in extension.

Alternative scenario Above 12600.00 look for further upside with 12650.00 & 12690.00 as targets.

Comment The RSI is bearish and calls for further decline.

Daily Pivots: (S1) 0.9865; (P) 0.9898; (R1) 0.9952; More...

Intraday bias in USD/CHF remains mildly on the upside at this point. Rebound from 0.9695 would target 1.0014 resistance. Upside could be limited by 61.8% retracement of 1.0237 to 0.9695 at 1.0030. On the downside, below 0.9842 minor support will turn bias back to the downside for retesting 0.9695 low instead. However, sustained break of 1.0030 will pave the way back to retest 1.0237 high.

In the bigger picture, current development suggests that up trend from 0.9186 (2018 low) has completed at 1.0237 already. Deeper decline would be seen to 61.8% retracement of 0.9186 to 1.0237 at 0.9587 and below. For now, USD/CHF is seen as in long term range pattern between 0.9186 and 1.0342. Hence, we'd pay attention to bottoming signal below 0.9587. However, sustained break of 1.0014 will revive medium term bullishness and turn focus back to 1.0237 high.

Pivot (invalidation): 56.95

Our preference Long positions above 56.95 with targets at 58.10 & 58.85 in extension.

Alternative scenario Below 56.95 look for further downside with 56.45 & 56.05 as targets.

Comment The RSI is mixed to bullish.

Pivot (invalidation): 14.9200

Our preference Long positions above 14.9200 with targets at 15.1000 & 15.1800 in extension.

Alternative scenario Below 14.9200 look for further downside with 14.8400 & 14.7600 as targets.

Comment The RSI advocates for further advance.

Pivot (invalidation): 1392.00

Our preference Long positions above 1392.00 with targets at 1402.00 & 1411.00 in extension.

Alternative scenario Below 1392.00 look for further downside with 1386.50 & 1381.00 as targets.

Comment The RSI is mixed to bullish.

Daily Pivots: (S1) 107.95; (P) 108.30; (R1) 108.81; More...

Intraday bias in USD/JPY is mildly on the upside, with focus on 108.80 resistance. Firm break there will confirm short term bottoming at 106.78. Further rise should then been seen to 110.67 resistance next. On the downside, break of 107.53 will turn bias to the downside for retesting 106.78 low.

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress, with the pair staying inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we'd expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

Daily Pivots: (S1) 1.3036; (P) 1.3087; (R1) 1.3128; More...

Intraday bias in USD/CAD remains neutral at this point. Focus stays on 1.3052/68 cluster support. Sustained trading below there will carry larger bearish implication, and bring further fall to 1.2673 fibonacci level next. However, break of 1.3145 resistance, will indicate short term bottoming, with bullish convergence condition in 4 hour MACD. Further rise should then be seen to 1.3239 support turned resistance.

In the bigger picture, medium term outlook stays neutral for now even though the case of bearish reversal is building up. Decisive break of 1.3068 cluster support (38.2% retracement of 1.2061 to 1.3664 at 1.3052) will confirm completion of up trend from 1.2061 (2017 low). Further fall should be seen to 61.8% retracement at 1.2673 next. On the upside, sustained break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685, is needed to confirm resumption of up trend from 1.2061 (2017 low). Otherwise, risk will stay on the downside.