Sample Category Title
S&P 500 Further Advance
Pivot (invalidation): 2851.50
Our preference Long positions above 2851.50 with targets at 2876.50 & 2890.00 in extension.
Alternative scenario Below 2851.50 look for further downside with 2840.00 & 2824.00 as targets.
Comment The RSI advocates for further upside.
DAX Bullish Bias Above 11994.00
Pivot (invalidation): 11994.00
Our preference Long positions above 11994.00 with targets at 12230.00 & 12330.00 in extension.
Alternative scenario Below 11994.00 look for further downside with 11920.00 & 11844.00 as targets.
Comment The RSI lacks momentum.
USD/TRY Bullish Bias Above 6.0410
Pivot (invalidation): 6.0410
Our preference Long positions above 6.0410 with targets at 6.0740 & 6.0930 in extension.
Alternative scenario Below 6.0410 look for further downside with 6.0190 & 6.0000 as targets.
Comment A support base at 6.0410 has formed and has allowed for a temporary stabilisation.
AUD/USD Watch 0.6910
Pivot (invalidation): 0.6865
Our preference Long positions above 0.6865 with targets at 0.6890 & 0.6910 in extension.
Alternative scenario Below 0.6865 look for further downside with 0.6845 & 0.6830 as targets.
Comment The RSI lacks downward momentum.
USD/CAD Capped By A Negative Trend Line
Pivot (invalidation): 1.3430
Our preference Short positions below 1.3430 with targets at 1.3375 & 1.3360 in extension.
Alternative scenario Above 1.3430 look for further upside with 1.3445 & 1.3470 as targets.
Comment The RSI is mixed with a bearish bias.
USD/CHF Aim @ 1.0140
Pivot (invalidation): 1.0095
Our preference Long positions above 1.0095 with targets at 1.0120 & 1.0140 in extension.
Alternative scenario Below 1.0095 look for further downside with 1.0075 & 1.0060 as targets.
Comment The RSI is bullish and calls for further upside.
USD/JPY The Upside Prevails
Pivot (invalidation): 110.30
Our preference Long positions above 110.30 with targets at 110.80 & 111.05 in extension.
Alternative scenario Below 110.30 look for further downside with 110.05 & 109.85 as targets.
Comment The break above 110.30 is a positive signal that has opened a path to 110.80.
GBP/USD Key Resistance At 1.2735
Pivot (invalidation): 1.2735
Our preference Short positions below 1.2735 with targets at 1.2685 & 1.2665 in extension.
Alternative scenario Above 1.2735 look for further upside with 1.2760 & 1.2785 as targets.
Comment As Long as the resistance at 1.2735 is not surpassed, the risk of the break below 1.2685 remains high.
EUR/USD The Bias Remains Bullish
Pivot (invalidation): 1.1150
Our preference Long positions above 1.1150 with targets at 1.1170 & 1.1180 in extension.
Alternative scenario Below 1.1150 look for further downside with 1.1140 & 1.1125 as targets.
Comment Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
AUDUSD Bears Face Big Challenge Below 0.69
AUDUSD held losses over the last five days, dropping to a new four-month low of 0.6864 last Friday and penetrating the descending triangle formation to the downside.
The RSI in the 4-hour chart continues to lack direction near the oversold area, while the red Tenkan-sen keeps flattening below the blue Kijun-sen line, reducing chances for a meaningful recovery in the short-term trading. The MACD oscillator is strengthening its negative momentum below the trigger and zero lines.
If the price closes comfortably below the 0.6864 support, traders could add more pressure to the pair, pushing the market down to 0.6825. The ten-year low of 0.6746 has been strictly supportive and therefore should be in focus.
In the positive scenario, the price could return higher and touch the 0.6960 resistance level, before hitting the 20-day simple moving average (SMA). If this proves easy to overcome this time, the increase may next pause somewhere between the 40-SMA currently at 0.7045 and the 23.6% Fibonacci retracement level of the downleg from 0.8135 to 0.6746, near 0.7070.
Briefly, AUDUSD is in a strongly bearish mode in the short- and medium-terms
