Sample Category Title
Silver Spot Break Of A ST Rising Trendline Support
Pivot (invalidation): 15.2500
Our preference Short positions below 15.2500 with targets at 15.0400 & 14.9800 in extension.
Alternative scenario Above 15.2500 look for further upside with 15.3400 & 15.4600 as targets.
Comment The RSI shows downside momentum.
Gold Spot Caution
Pivot (invalidation): 1300.00
Our preference Long positions above 1300.00 with targets at 1306.00 & 1308.50 in extension.
Alternative scenario Below 1300.00 look for further downside with 1296.00 & 1291.00 as targets.
Comment The RSI is mixed and calls for caution.
S&P 500 Under Pressure
Pivot (invalidation): 2892.00
Our preference Short positions below 2892.00 with targets at 2869.00 & 2859.25 in extension.
Alternative scenario Above 2892.00 look for further upside with 2909.50 & 2919.00 as targets.
Comment The RSI advocates for further decline.
DAX Under Pressure
Pivot (invalidation): 11920.00
Our preference Short positions below 11920.00 with targets at 11800.00 & 11750.00 in extension.
Alternative scenario Above 11920.00 look for further upside with 11986.00 & 12030.00 as targets.
Comment The RSI is bearish and calls for further downside.
EUR/CHF Daily Outlook
Daily Pivots: (S1) 1.1243; (P) 1.1262; (R1) 1.1280; More...
Intraday bias in EUR/CHF remains on the upside at this point. A short term bottom was formed at 1.1162, ahead of 1.1154 key fibonacci support. Further rise would be seen to 1.1310 support turned resistance first. Break will target 1.1444. On the downside, below 1.1207 minor support will turn bias back to the downside for 1.1154 instead.
In the bigger picture, multiple rejection by 55 week EMA indicates medium term bearishness. Focus remains on 1.1154/98 support zone (2016 high and 61.8% retracement of 1.0629 to 1.2004 at 1.1154). Decisive break there will confirm resumption of whole down trend from 1.2004 and long term bearish reversal. EUR/CHF should then target 1.0629 support and below. This will now remain the favored case as long as 1.1444 resistance holds.
USD/TRY The Bias Remains Bullish
Pivot (invalidation): 5.6750
Our preference Long positions above 5.6750 with targets at 5.7000 & 5.7170 in extension.
Alternative scenario Below 5.6750 look for further downside with 5.6520 & 5.6280 as targets.
Comment The RSI has just landed on its neutrality area at 50% and is turning up.
AUD/USD The Downside Prevails
Pivot (invalidation): 0.7130
Our preference Short positions below 0.7130 with targets at 0.7100 & 0.7085 in extension.
Alternative scenario Above 0.7130 look for further upside with 0.7150 & 0.7165 as targets.
Comment The RSI is bearish and calls for further downside.
USD/CAD Target 1.3365
Pivot (invalidation): 1.3315
Our preference Long positions above 1.3315 with targets at 1.3340 & 1.3365 in extension.
Alternative scenario Below 1.3315 look for further downside with 1.3290 & 1.3275 as targets.
Comment The RSI advocates for further upside.
USD/CHF Further Advance
Pivot (invalidation): 0.9990
Our preference Long positions above 0.9990 with targets at 1.0020 & 1.0030 in extension.
Alternative scenario Below 0.9990 look for further downside with 0.9975 & 0.9965 as targets.
Comment The RSI is bullish and calls for further advance.
USD/JPY Key Resistance At 111.25
Pivot (invalidation): 111.25
Our preference Short positions below 111.25 with targets at 111.00 & 110.80 in extension.
Alternative scenario Above 111.25 look for further upside with 111.40 & 111.55 as targets.
Comment Intraday technical indicators are mixed and call for caution.
