Sample Category Title
S&P 500 Further Upside
Pivot (invalidation): 2935.50
Our preference Long positions above 2935.50 with targets at 2953.50 & 2960.50 in extension.
Alternative scenario Below 2935.50 look for further downside with 2931.25 & 2926.50 as targets.
Comment The RSI advocates for further advance.
DAX Bullish Bias Above 12270.00
Pivot (invalidation): 12270.00
Our preference Long positions above 12270.00 with targets at 12360.00 & 12400.00 in extension.
Alternative scenario Below 12270.00 look for further downside with 12230.00 & 12189.00 as targets.
Comment The RSI is mixed.
USD/TRY The Bias Remains Bullish
Pivot (invalidation): 5.9400
Our preference Long positions above 5.9400 with targets at 5.9600 & 5.9800 in extension.
Alternative scenario nBelow 5.9400 look for further downside with 5.9260 & 5.9000 as targets.
Comment Technically the RSI is above its neutrality area at 50.
AUD/USD Turning Down
Pivot (invalidation): 0.7060
Our preference Short positions below 0.7060 with targets at 0.7030 & 0.7020 in extension.
Alternative scenario Above 0.7060 look for further upside with 0.7080 & 0.7100 as targets.
Comment The RSI calls for a drop.
USD/CAD Turning Up
Pivot (invalidation): 1.3440
Our preference Long positions above 1.3440 with targets at 1.3475 & 1.3495 in extension.
Alternative scenario Below 1.3440 look for further downside with 1.3420 & 1.3400 as targets.
Comment The RSI lacks downward momentum.
USD/CHF Limited Upside
Pivot (invalidation): 1.0180
Our preference Long positions above 1.0180 with targets at 1.0205 & 1.0215 in extension.
Alternative scenario Below 1.0180 look for further downside with 1.0170 & 1.0160 as targets.
Comment Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
USD/JPY The Downside Prevails
Pivot (invalidation): 111.75
Our preference Short positions below 111.75 with targets at 111.40 & 111.20 in extension.
Alternative scenario Above 111.75 look for further upside with 111.90 & 112.05 as targets.
Comment The RSI calls for a new downleg.
GBP/USD 1.2965 Expected
Pivot (invalidation): 1.2925
Our preference Long positions above 1.2925 with targets at 1.2945 & 1.2965 in extension.
Alternative scenario Below 1.2925 look for further downside with 1.2905 & 1.2890 as targets.
Comment The RSI advocates for further advance.
EUR/USD Aim @ 1.1220
Pivot (invalidation): 1.1165
Our preference Long positions above 1.1165 with targets at 1.1205 & 1.1220 in extension.
Alternative scenario Below 1.1165 look for further downside with 1.1145 & 1.1130 as targets.
Comment The RSI is bullish and calls for further upside.
Swiss KOF dropped to 96.2, largely due to deterioration in manufacturing
Swiss KOF Economic Barometer dropped to 96.2 in April, down from 97.1 and missed expectation of 97.0. KOF noted that the Barometer value is still "clearly below average". Also, the Swiss economy will remain sluggish in the coming months.
KOF also said that the decline was largely due to deterioration in manufacturing sector. Construction also dropped slightly. The signals for private consumption as well as the banking and insurance sector was almost unchanged. The outlook for other service providers, accommodation and food service activities and for foreign demand was slightly better than in the previous month.
