Sample Category Title
S&P 500 Key Resistance At 2858.00
Pivot (invalidation): 2858.00
Our preference Short positions below 2858.00 with targets at 2824.00 & 2800.50 in extension.
Alternative scenario Above 2858.00 look for further upside with 2890.00 & 2913.75 as targets.
Comment The RSI is bearish and calls for further downside.
DAX Caution
Pivot (invalidation): 12120.00
Our preference Short positions below 12120.00 with targets at 11940.00 & 11870.00 in extension.
Alternative scenario Above 12120.00 look for further upside with 12180.00 & 12270.00 as targets.
Comment As Long as the resistance at 12120.00 is not surpassed, the risk of the break below 11940.00 remains high.
USD/TRY Key Resistance At 6.0450
Pivot (invalidation): 6.0450
Our preference Short positions below 6.0450 with targets at 6.0000 & 5.9850 in extension.
Alternative scenario Above 6.0450 look for further upside with 6.0740 & 6.0930 as targets.
Comment As Long as 6.0450 is resistance, look for choppy price action with a bearish bias.
AUD/USD Turning Down
Pivot (invalidation): 0.6915
Our preference Short positions below 0.6915 with targets at 0.6875 & 0.6860 in extension.
Alternative scenario Above 0.6915 look for further upside with 0.6935 & 0.6955 as targets.
Comment The immediate trend remains down and the momentum is strong.
USD/CAD Under Pressure
Pivot (invalidation): 1.3445
Our preference Short positions below 1.3445 with targets at 1.3395 & 1.3375 in extension.
Alternative scenario Above 1.3445 look for further upside with 1.3470 & 1.3490 as targets.
Comment The RSI lacks upward momentum.
USD/CHF Key Resistance At 1.0100
Pivot (invalidation): 1.0100
Our preference Short positions below 1.0100 with targets at 1.0075 & 1.0060 in extension.
Alternative scenario Above 1.0100 look for further upside with 1.0120 & 1.0135 as targets.
Comment The upward potential is likely to be limited by the resistance at 1.0100.
USD/JPY Target 110.55
Pivot (invalidation): 110.00
Our preference Long positions above 110.00 with targets at 110.35 & 110.55 in extension.
Alternative scenario Below 110.00 look for further downside with 109.85 & 109.70 as targets.
Comment The RSI calls for a new upleg.
GBP/USD Watch 1.2685
Pivot (invalidation): 1.2755
Our preference Short positions below 1.2755 with targets at 1.2710 & 1.2685 in extension.
Alternative scenario Above 1.2755 look for further upside with 1.2780 & 1.2805 as targets.
Comment A break below 1.2710 would trigger a drop towards 1.2685.
EUR/USD The Bias Remains Bullish
Pivot (invalidation): 1.1150
Our preference Long positions above 1.1150 with targets at 1.1180 & 1.1200 in extension.
Alternative scenario Below 1.1150 look for further downside with 1.1135 & 1.1120 as targets.
Comment The RSI lacks downward momentum.
GBP/JPY Daily Outlook
Daily Pivots: (S1) 139.61; (P) 140.12; (R1) 140.54; More...
Intraday bias in GBP/JPY remains neutral for consolidation above 139.54 temporary low. In case of another recovery, upside should be limited well below 143.72 support turned resistance to bring fall resumption. On the downside, break of 139.54 will resume the decline from 148.87 to 61.8% retracement of 131.51 to 148.87 at 138.14 next. Sustained break there will pave the way to retest 131.51 low.
In the bigger picture, current development suggests that GBP/JPY was rejected by 149.98 key resistance. And medium term fall from 156.59 is still in progress. Break of 131.51 will target 122.36 (2016 low). On the other hand, decisive break of 149.98 should confirm that medium term fall from 156.59 (2018 high) has completed at 131.51 already. Further rally would be seen back to 156.59 resistance and above.
