Sample Category Title
GBP/USD Turning Up
Pivot (invalidation): 1.3050
Our preference Long positions above 1.3050 with targets at 1.3090 & 1.3110 in extension.
Alternative scenario Below 1.3050 look for further downside with 1.3030 & 1.3005 as targets.
Comment The RSI calls for a rebound.
EUR/USD 1.1315 Expected
Pivot (invalidation): 1.1270
Our preference Long positions above 1.1270 with targets at 1.1300 & 1.1315 in extension.
Alternative scenario Below 1.1270 look for further downside with 1.1250 & 1.1235 as targets.
Comment The RSI calls for a new upleg.
USD/TRY The Upside Prevails
Pivot (invalidation): 5.7200
Our preference Long positions above 5.7200 with targets at 5.7550 & 5.7750 in extension.
Alternative scenario Below 5.7200 look for further downside with 5.7000 & 5.6730 as targets.
Comment The RSI advocates for further upside.
AUD/USD Key Resistance At 0.7135
Pivot (invalidation): 0.7135
Our preference Short positions below 0.7135 with targets at 0.7110 & 0.7090 in extension.
Alternative scenario Above 0.7135 look for further upside with 0.7150 & 0.7165 as targets.
Comment The upward potential is likely to be limited by the resistance at 0.7135.
USD/CAD Caution
Pivot (invalidation): 1.3355
Our preference Long positions above 1.3355 with targets at 1.3390 & 1.3405 in extension.
Alternative scenario Below 1.3355 look for further downside with 1.3335 & 1.3310 as targets.
Comment Intraday technical indicators are mixed and call for caution.
USD/CHF Limited Upside
Pivot (invalidation): 1.0010
Our preference Long positions above 1.0010 with targets at 1.0045 & 1.0060 in extension.
Alternative scenario Below 1.0010 look for further downside with 0.9990 & 0.9975 as targets.
Comment A support base at 1.0010 has formed and has allowed for a temporary stabilisation.
EUR/GBP Daily Outlook
Daily Pivots: (S1) 0.8609; (P) 0.8622; (R1) 0.8639; More...
No change in EUR/GBP's outlook as consolidation from 0.8474 is extending. Intraday bias remains neutral first. But as long as 0.7822 resistance holds, near term outlook remains bearish. 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.
S&P 500 Choppy
Pivot (invalidation): 2896.00
Our preference Short positions below 2896.00 with targets at 2869.00 & 2859.25 in extension.
Alternative scenario Above 2896.00 look for further upside with 2909.50 & 2920.00 as targets.
Comment The RSI is mixed to bearish.
DAX Bullish Bias Above 11850.00
Pivot (invalidation): 11850.00
Our preference Long positions above 11850.00 with targets at 12010.00 & 12080.00 in extension.
Alternative scenario Below 11850.00 look for further downside with 11794.00 & 11753.00 as targets.
Comment The RSI is bullish and calls for further advance.
Crude Oil Capped By A Negative Trend Line
Pivot (invalidation): 64.00
Our preference Short positions below 64.00 with targets at 63.30 & 63.15 in extension.
Alternative scenario Above 64.00 look for further upside with 64.30 & 64.65 as targets.
Comment As Long as the resistance at 64.00 is not surpassed, the risk of the break below 63.30 remains high.
