Sample Category Title

Pivot (invalidation): 1413.00

Our preference Long positions above 1413.00 with targets at 1430.00 & 1437.50 in extension.

Alternative scenario Below 1413.00 look for further downside with 1409.00 & 1402.00 as targets.

Comment The RSI is mixed to bullish.

Daily Pivots: (S1) 0.6938; (P) 0.6954; (R1) 0.6978; More...

Intraday bias in AUD/USD remains mildly on the upside and corrective rebound from 0.6831 might extend higher. But upside should be limited by 0.7022 resistance to bring fall resumption. On the downside, below 0.6903 minor support will turn bias to the downside for retesting 0.6831 low first. Break there will resume the decline from 0.7295 to 0.6722 low next. However, firm break of 0.7022 will indicate near term reversal and turn outlook bullish for 0.7205 resistance instead.

In the bigger picture, with 0.7393 key resistance intact, medium term outlook remains bearish. The decline from 0.8135 (2018 high) is seen as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

Pivot (invalidation): 2930.00

Our preference Long positions above 2930.00 with targets at 2973.00 & 2990.00 in extension.

Alternative scenario Below 2930.00 look for further downside with 2910.00 & 2897.00 as targets.

Comment The RSI calls for a new upleg.

Daily Pivots: (S1) 1.1310; (P) 1.1391; (R1) 1.1413; More......

Intraday bias in EUR/USD remains on the upside for 100% projection of 1.1107 to 1.1347 from 1.1181 at 1.1142 first. Break will target 161.8% projection at 1.1569 next. On the downside, below 1.1365 minor support will turn intraday bias neutral and bring consolations. But outlook will stay bullish as long as 1.1181 support holds.

In the bigger picture, considering bullish convergence condition in daily and weekly MACD, a medium term bottom should be in place at 1.1107 after hitting 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186. Further rise should be seen to 38.2% retracement of 1.2555 to 1.1107 at 1.1660. Reactions from there could indicate whether rebound from 1.1107 is a corrective rise or reversing medium term trend.

Pivot (invalidation): 12360.00

Our preference Short positions below 12360.00 with targets at 12220.00 & 12120.00 in extension.

Alternative scenario Above 12360.00 look for further upside with 12420.00 & 12480.00 as targets.

Comment As Long as 12360.00 is resistance, look for choppy price action with a bearish bias.

Pivot (invalidation): 5.7750

Our preference Long positions above 5.7750 with targets at 5.8380 & 5.8850 in extension.

Alternative scenario Below 5.7750 look for further downside with 5.7350 & 5.7000 as targets.

Comment The break above 5.7750 is a positive signal that has opened a path to 5.8380.

Daily Pivots: (S1) 1.2709; (P) 1.2738; (R1) 1.2768; More....

Intraday bias in GBP/USD remains mildly on the upside. Rebound from 1.2506 short term bottom could extend higher. But upside should be limited by 38.2% retracement of 1.3381 to 1.2506 at 1.2840 to limit upside. On the downside, break of 1.2642 minor support will turn intraday bias back to retest 1.2506 low. However, sustained break of 1.2840 will bring stronger rise to 61.8% retracement at 1.3047 next.

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): 0.6945

Our preference Long positions above 0.6945 with targets at 0.6975 & 0.7000 in extension.

Alternative scenario Below 0.6945 look for further downside with 0.6920 & 0.6900 as targets.

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

Pivot (invalidation): 1.3210

Our preference Short positions below 1.3210 with targets at 1.3170 & 1.3145 in extension.

Alternative scenario Above 1.3210 look for further upside with 1.3230 & 1.3255 as targets.

Comment A break below 1.3170 would trigger a drop towards 1.3145.

Pivot (invalidation): 0.9745

Our preference Short positions below 0.9745 with targets at 0.9690 & 0.9670 in extension.

Alternative scenario Above 0.9745 look for further upside with 0.9780 & 0.9800 as targets.

Comment The RSI lacks upward momentum.