Sample Category Title

Pivot (invalidation): 6.0400

Our preference Long positions above 6.0400 with targets at 6.1280 & 6.1600 in extension.

Alternative scenario Below 6.0400 look for further downside with 5.9900 & 5.9530 as targets.

Comment A support base at 6.0400 has formed and has allowed for a temporary stabilisation.

Pivot (invalidation): 0.6965

Our preference Short positions below 0.6965 with targets at 0.6935 & 0.6915 in extension.

Alternative scenario Above 0.6965 look for further upside with 0.6985 & 0.7005 as targets.

Comment Intraday technical indicators are mixed and call for caution.

Daily Pivots: (S1) 1.3438; (P) 1.3462; (R1) 1.3507; More...

Intraday bias in USD/CAD remains neutral as it's staying in consolidation from 1.3521. While another decline cannot be ruled out, downside should be contained above 1.3274 support to bring rally resumption. On the upside, firm break of 1.3521 will resume the whole rise from 1.3068 to retest 1.3664 high. However, decisive break of 1.3274 support will indicate completion of rise from 1.3068 and turn outlook bearish.

In the bigger picture, USD/CAD is staying well inside medium term rising channel (support at 1.3278). Thus, the up trend from 1.2061 (2017 low) should be in progress. On the upside, decisive break of 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 will pave the way to 78.6% retracement at 1.4127 next. This will remain the favored case as long as 1.3068 support holds. However, sustained break the channel support will be the first sign of medium term reversal. Firm break of 1.3068 would confirm.

Pivot (invalidation): 1.3445

Our preference Long positions above 1.3445 with targets at 1.3500 & 1.3525 in extension.

Alternative scenario Below 1.3445 look for further downside with 1.3420 & 1.3400 as targets.

Comment The break above 1.3445 is a positive signal that has opened a path to 1.3500.

Pivot (invalidation): 1.0080

Our preference Short positions below 1.0080 with targets at 1.0045 & 1.0030 in extension.

Alternative scenario Above 1.0080 look for further upside with 1.0100 & 1.0130 as targets.

Comment As Long as the resistance at 1.0080 is not surpassed, the risk of the break below 1.0045 remains high.

Daily Pivots: (S1) 0.6922; (P) 0.6962; (R1) 0.6985; More...

Intraday bias in AUD/USD remains on the downside for the moment. Current fall from 07295 should target 100% projection of 0.7295 to 0.7003 from 0.7205 at 0.6913. Decisive break there will indicate further downside acceleration and pave the way to retest 0.6722 low. On the upside, break of 0.7018 minor resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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): 109.35

Our preference Long positions above 109.35 with targets at 109.80 & 110.05 in extension.

Alternative scenario Below 109.35 look for further downside with 109.00 & 108.75 as targets.

Comment The RSI is bullish and calls for further upside.

Daily Pivots: (S1) 1.1211; (P) 1.1237; (R1) 1.1251; More.....

Intraday bias in EUR/USD remains neutral and outlook is unchanged. In case of stronger recovery, upside should be limited well below 1.1324 resistance to bring fall resumption. On the downside, break of 1.1111 will extend down trend to 100% projection of 1.1448 to 1.1183 from 1.1324 at 1.1059. Break will target 161.8% projection at 1.0895.

In the bigger picture, down trend from 1.2555 (2018 high) has just resumed. 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186 was also taken out. Current fall should now target 78.6% retracement at 1.0813. Sustained break there will pave the way to retest 1.0339. On the downside, break of 1.1448 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Pivot (invalidation): 1.2990

Our preference Short positions below 1.2990 with targets at 1.2940 & 1.2900 in extension.

Alternative scenario Above 1.2990 look for further upside with 1.3015 & 1.3040 as targets.

Comment A break below 1.2940 would trigger a drop towards 1.2900.

Pivot (invalidation): 1.1240

Our preference Short positions below 1.1240 with targets at 1.1220 & 1.1210 in extension.

Alternative scenario Above 1.1240 look for further upside with 1.1255 & 1.1265 as targets.

Comment The upward potential is likely to be limited by the resistance at 1.1240.