Sample Category Title

Pivot (invalidation): 14.7000

Our preference Long positions above 14.7000 with targets at 14.9200 & 15.0000 in extension.

Alternative scenario Below 14.7000 look for further downside with 14.6400 & 14.5600 as targets.

Comment The RSI calls for a bounce.

Daily Pivots: (S1) 121.40; (P) 121.84; (R1) 122.12; More....

EUR/JPY is staying in consolidation above 120.78 and intraday bias remains neutral. In case of stronger recovery, upside should be limited below 123.73 resistance to bring fall resumption. On the downside, break of 120.78 will resume the fall from 127.50 and target 118.62 low next.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 123.73 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

Pivot (invalidation): 1324.00

Our preference Long positions above 1324.00 with targets at 1334.00 & 1344.00 in extension.

Alternative scenario Below 1324.00 look for further downside with 1320.00 & 1315.00 as targets.

Comment The RSI is above its neutrality area at 50%.

Daily Pivots: (S1) 0.8833; (P) 0.8857; (R1) 0.8872; More...

Intraday bias in EUR/GBP remain neutral for consolidation above 0.8902 temporary top. Downside of retreat should be contained well above 0.8681 resistance turned support to bring rise resumption. On the upside, break of 0.8902 will turn bias back to the upside and target 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 0.8511). Decisive break of 0.9101 resistance will confirm this bullish case. Nevertheless, as EUR/GBP is still staying inside long term falling channel, correction from 0.9305 could still extend to 0.8400 fibonacci level before completion.

Pivot (invalidation): 2803.50

Our preference Long positions above 2803.50 with targets at 2838.50 & 2856.00 in extension.

Alternative scenario Below 2803.50 look for further downside with 2778.00 & 2762.75 as targets.

Comment The RSI advocates for further advance.

Daily Pivots: (S1) 1.6072; (P) 1.6112; (R1) 1.6141; More...

EUR/AUD is staying in consolidation from 1.6262 and intraday bias remains neutral first. We'd expect downside to be contained by 38.2% retracement of 1.5683 to 1.6262 at 1.6041 to bring rise resumption. Correction from 1.6765 has completed with three waves down to 1.5683. On the upside, break of 1.6262 will pave the way to retest 1.6765 high. However, firm break of 1.6041 will dampen this view and bring deeper fall to 61.8% retracement at 1.5904.

In the bigger picture, as long as 1.5346 support holds, 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, with bearish divergence condition in weekly MACD, and turn outlook bearish.

Pivot (invalidation): 12058.00

Our preference Short positions below 12058.00 with targets at 11880.00 & 11820.00 in extension.

Alternative scenario Above 12058.00 look for further upside with 12120.00 & 12170.00 as targets.

Comment The index currently faces a challenging resistance area at 12058.00.

Daily Pivots: (S1) 1.1134; (P) 1.1165; (R1) 1.1194; More....

EUR/CHF is staying in consolidation from 1.1119 and intraday bias remains neutral first. In case of stronger recovery, upside should be limited by 1.1278 resistance to bring another fall. On the downside, break of 1.1119 will extend whole decline from 1.2004 and target 61.8% projection of 1.2004 to 1.1173 from 1.1476 at 1.0962 next.

In the bigger picture, focus will stay on 61.8% retracement of 1.0629 to 1.2004 at 1.1154. Sustained break of 1.1154 will argue that fall from 1.2004 is itself a long term down trend. Next target will be 1.0629 support next. This will now remain the favored case as long as 1.1476 resistance holds even in case of rebound.

Pivot (invalidation): 5.7390

Our preference Short positions below 5.7390 with targets at 5.7010 & 5.6740 in extension.

Alternative scenario Above 5.7390 look for further upside with 5.7660 & 5.7920 as targets.

Comment As Long as the resistance at 5.7390 is not surpassed, the risk of the break below 5.7010 remains high.

Pivot (invalidation): 0.6985

Our preference Short positions below 0.6985 with targets at 0.6960 & 0.6940 in extension.

Alternative scenario Above 0.6985 look for further upside with 0.6995 & 0.7005 as targets.

Comment A break below 0.6960 would trigger a drop towards 0.6940.