Sample Category Title
USD/TRY Continuation Of The Rebound
Pivot (invalidation): 5.9530
Our preference Long positions above 5.9530 with targets at 5.9800 & 6.0000 in extension.
Alternative scenario Below 5.9530 look for further downside with 5.9400 & 5.9260 as targets.
Comment The RSI calls for a rebound.
AUD/USD Key Resistance At 0.7035
Pivot (invalidation): 0.7035
Our preference Short positions below 0.7035 with targets at 0.7005 & 0.6985 in extension.
Alternative scenario Above 0.7035 look for further upside with 0.7050 & 0.7060 as targets.
Comment Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
USD/CAD Further Upside
Pivot (invalidation): 1.3415
Our preference Long positions above 1.3415 with targets at 1.3460 & 1.3480 in extension.
Alternative scenario Below 1.3415 look for further downside with 1.3400 & 1.3375 as targets.
Comment The break above 1.3415 is a positive signal that has opened a path to 1.3460.
USD/CHF The Upside Prevails
Pivot (invalidation): 1.0165
Our preference Long positions above 1.0165 with targets at 1.0185 & 1.0200 in extension.
Alternative scenario Below 1.0165 look for further downside with 1.0150 & 1.0130 as targets.
Comment The RSI advocates for further upside.
S&P 500 Under Pressure
Pivot (invalidation): 2943.00
Our preference Short positions below 2943.00 with targets at 2913.00 & 2898.50 in extension.
Alternative scenario Above 2943.00 look for further upside with 2953.50 & 2960.50 as targets.
Comment The RSI shows downside momentum.
DAX Bullish Bias Above 12285.00
Pivot (invalidation): 12285.00
Our preference Long positions above 12285.00 with targets at 12370.00 & 12428.00 in extension.
Alternative scenario Below 12285.00 look for further downside with 12245.00 & 12190.00 as targets.
Comment The RSI is mixed to bullish.
USD/JPY Further Advance
Pivot (invalidation): 111.35
Our preference Long positions above 111.35 with targets at 111.70 & 111.90 in extension.
Alternative scenario Below 111.35 look for further downside with 111.20 & 111.00 as targets.
Comment The RSI is bullish and calls for further advance.
GBP/USD Key Resistance At 1.3075
Pivot (invalidation): 1.3075
Our preference Short positions below 1.3075 with targets at 1.3030 & 1.3000 in extension.
Alternative scenario Above 1.3075 look for further upside with 1.3100 & 1.3120 as targets.
Comment The break below 1.3075 is a negative signal that has opened a path to 1.3030.
EUR/USD Under Pressure
Pivot (invalidation): 1.1220
Our preference Short positions below 1.1220 with targets at 1.1185 & 1.1175 in extension.
Alternative scenario Above 1.1220 look for further upside with 1.1240 & 1.1260 as targets.
Comment As Long as the resistance at 1.1220 is not surpassed, the risk of the break below 1.1185 remains high.
AUD/USD Prepares For Downtrend Once Wave-4 Breaks
The AUD/USD bearish breakout below the support trend line (blue) could confirm the wave 5 (pink) continuation. For the moment it seems likely that price is back in a downtrend when considering the choppy and corrective wave C (blue) and wave 4 (pink), plus the break below the previous support lines (dotted green).
The AUD/USD made a bullish pullback which seems to be a choppy and corrective wave 4 (green). Price is now probably in a wave 5 (green) but the breakout below the support trend line (blue) would confirm this downtrend continuation within the wave 3 (blue). Price could aim for the Fibonacci targets of wave 5 vs 1+3. A bullish bounce, however, at the support trend line could indicate the start of a larger triangle pattern within the wave 4 (green).