Sample Category Title
GBP/USD Watch 1.3015
Pivot (invalidation): 1.3050
Our preference Short positions below 1.3050 with targets at 1.3025 & 1.3015 in extension.
Alternative scenario Above 1.3050 look for further upside with 1.3065 & 1.3080 as targets.
Comment A break below 1.3025 would trigger a drop towards 1.3015.
EUR/USD Turning Down
Pivot (invalidation): 1.1305
Our preference Short positions below 1.1305 with targets at 1.1275 & 1.1260 in extension.
Alternative scenario Above 1.1305 look for further upside with 1.1320 & 1.1340 as targets.
Comment The RSI is bearish and calls for further decline.
USD/TRY Rebound Expected
Pivot (invalidation): 5.7420
Our preference Long positions above 5.7420 with targets at 5.7730 & 5.7950 in extension.
Alternative scenario Below 5.7420 look for further downside with 5.7100 & 5.6750 as targets.
Comment The RSI is bullish and calls for further upside.
USD/JPY Daily Outlook
Daily Pivots: (S1) 111.94; (P) 112.06; (R1) 112.19; More...
No change in USD/JPY's outlook. Intraday bias stays neutral with focus on 112.13 key resistance. On the upside, sustained break of 112.13 will resume whole rise from 104.69 for 100 % projection of 109.71 to 111.82 and 110.84 at 112.95 first. On the downside, below 111.69 minor support will turn bias to the downside for 110.84 support. Break will bring deeper fall back to 109.71 support.
In the bigger picture, medium term outlook in USD/JPY remains a bit mixed as it's staying inside falling channel from 118.65, but there are signs of bullish reversal. On the upside, break of 114.54 resistance will revive the case the corrective fall from 118.65 has completed with three waves down to 104.69. And whole rise from 98.97 (2016 low) is resuming for 118.65 and above. But before that, outlook stays neutral first.
AUD/USD Caution
Pivot (invalidation): 0.7185
Our preference Short positions below 0.7185 with targets at 0.7160 & 0.7140 in extension.
Alternative scenario Above 0.7185 look for further upside with 0.7205 & 0.7220 as targets.
Comment The upward potential is likely to be limited by the resistance at 0.7185.
USD/CAD The Upside Prevails
Pivot (invalidation): 1.3330
Our preference Long positions above 1.3330 with targets at 1.3370 & 1.3395 in extension.
Alternative scenario Below 1.3330 look for further downside with 1.3310 & 1.3290 as targets.
Comment The RSI advocates for further upside.
USD/CHF The Bias Remains Bullish
Pivot (invalidation): 1.0085
Our preference Long positions above 1.0085 with targets at 1.0120 & 1.0135 in extension.
Alternative scenario Below 1.0085 look for further downside with 1.0065 & 1.0050 as targets.
Comment The break above 1.0085 is a positive signal that has opened a path to 1.0120.
S&P 500 Under Pressure
Pivot (invalidation): 2910.00
Our preference Short positions below 2910.00 with targets at 2893.00 & 2888.25 in extension.
Alternative scenario Above 2910.00 look for further upside with 2916.00 & 2920.00 as targets.
Comment Technically the RSI is below its neutrality area at 50.
DAX Towards 12250.00
Pivot (invalidation): 12095.00
Our preference Long positions above 12095.00 with targets at 12200.00 & 12250.00 in extension.
Alternative scenario Below 12095.00 look for further downside with 12029.00 & 11960.00 as targets.
Comment Technically the RSI is above its neutrality area at 50.
Crude Oil Under Pressure
Pivot (invalidation): 64.20
Our preference Short positions below 64.20 with targets at 63.40 & 63.15 in extension.
Alternative scenario Above 64.20 look for further upside with 64.55 & 64.80 as targets.
Comment As Long as 64.20 is resistance, expect a return to 63.40.
