Sample Category Title

Pivot (invalidation): 0.7165

Our preference Short positions below 0.7165 with targets at 0.7125 & 0.7115 in extension.

Alternative scenario Above 0.7165 look for further upside with 0.7180 & 0.7190 as targets.

Comment The RSI calls for a new downleg.

Pivot (invalidation): 1.3360

Our preference Long positions above 1.3360 with targets at 1.3420 & 1.3450 in extension.

Alternative scenario Below 1.3360 look for further downside with 1.3340 & 1.3320 as targets.

Comment The break above 1.3360 is a positive signal that has opened a path to 1.3420.

Pivot (invalidation): 1.0025

Our preference Long positions above 1.0025 with targets at 1.0060 & 1.0085 in extension.

Alternative scenario Below 1.0025 look for further downside with 1.0010 & 0.9995 as targets.

Comment The break above 1.0025 is a positive signal that has opened a path to 1.0060.

Pivot (invalidation): 111.85

Our preference Long positions above 111.85 with targets at 112.10 & 112.25 in extension.

Alternative scenario Below 111.85 look for further downside with 111.65 & 111.50 as targets.

Comment A support base at 111.85 has formed and has allowed for a temporary stabilisation.

Pivot (invalidation): 1.3120

Our preference nShort positions below 1.3120 with targets at 1.3065 & 1.3050 in extension.

Alternative scenario Above 1.3120 look for further upside with 1.3135 & 1.3150 as targets.

Comment The RSI shows downside momentum.

Pivot (invalidation): 1.1320

Our preference Short positions below 1.1320 with targets at 1.1280 & 1.1260 in extension.

Alternative scenario Above 1.1320 look for further upside with 1.1340 & 1.1360 as targets.

Comment The RSI calls for a new downleg.

Daily Pivots: (S1) 146.40; (P) 146.70; (R1) 147.05; More...

GBP/JPY is staying in consolidation from 148.87 and intraday remains neutral first. Further rise remains in favor as long as 143.72 support holds. Decisive break of 149.48 key resistance will carry larger bullish in implications and target 156.58 resistance next. However, on the downside, sustained break of 143.72 will indicate near term reversal, after rejection by 149.48 key resistance. In that case, intraday bias will be turned to the downside for 141.00 support first.

In the bigger picture, focus is staying on 149.98 key resistance. Decisive break there should confirm that medium term fall from 156.59 (2018 high) has completed at 131.51 already. Rise from 131.51 is then seen as the third leg of the corrective pattern from 122.36 (2016 low). GBP/JPY should then target 156.59 and above. However, rejection by 149.98 will retain medium term bearishness and could extend the fall from 156.59 through 131.51 to 122.36.

Daily Pivots: (S1) 126.49; (P) 126.64; (R1) 126.81; More....

EUR/JPY lost some upside omentum as seen in 4 hour MACD. Intraday bias is turned neutral first. Further rise is expected as long as 125.61 resistance turned supported holds. Above 126.79 will target 127.50 resistance first. . Decisive break there will resume whole rise from 118.62 for medium term channel resistance at 129.15 next. However, break of 125.61 will turn bias back to the downside for 123.65 support instead.

In the bigger picture, there is no confirmation of completion of the down trend from 137.49 (2018 high) yet. In case of an extension, break of 118.62 will target 109.03/114.84 long term support zone. However, break of 127.50 will solidify the case of medium term bullish reversal. Further decisive break medium term channel resistance will affirm reversal and target 133.12 key resistance and above.

Daily Pivots: (S1) 0.8612; (P) 0.8632; (R1) 0.8649; More...

EUR/GBP is staying in consolidation from 0.8474 and intraday bias remains neutral first. In case of stronger recovery, upside should be limited by 0.8722 resistance to bring down trend resumption. On the downside, firm break of 0.8474 will resume larger down trend for 0.8416 long term projection next. On the upside, though, sustained break of 0.8722 will suggest near term reversal and bring stronger rise back to 0.8840 resistance and above.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Current fall from 0.9305 (2017 high) is a falling leg inside the pattern. Such decline could extend to 100% projection of 0.9305 to 0.8620 from 0.9101 at 0.8416 and possibly below. But for now, we'd expect strong support around 0.8312 support to contain downside and bring rebound.

Daily Pivots: (S1) 1.5735; (P) 1.5764; (R1) 1.5789; More...

EUR/AUD is staying in consolidation from 1.5721 and intraday bias remains neutral. In case of stronger recovery, upside should be limited by 1.6122 near term resistance. On the downside, decisive break of 1.5721 will resume the decline from 1.6765 to 1.5346 key support next.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Uptrend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.