Sample Category Title

Pivot (invalidation): 11930.00

Our preference Long positions above 11930.00 with targets at 12027.00 & 12112.00 in extension.

Alternative scenario Below 11930.00 look for further downside with 11865.00 & 11810.00 as targets.

Comment The RSI is bullish and calls for further upside.

Daily Pivots: (S1) 145.45; (P) 146.20; (R1) 146.73; More...

Intraday bias in GBP/JPY remains neutral for the moment. As long as 143.72 support holds, further rise is in favor. On the upside, decisive break of 149.48 key resistance will carry larger bullish implication and target 156.58 resistance next. However. 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 now 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.

Pivot (invalidation): 61.90

Our preference Long positions above 61.90 with targets at 62.20 & 62.45 in extension.

Alternative scenario Below 61.90 look for further downside with 61.60 & 61.25 as targets.

Comment The RSI is mixed and calls for caution.

Pivot (invalidation): 15.0500

Our preference Long positions above 15.0500 with targets at 15.1900 & 15.2500 in extension.

Alternative scenario Below 15.0500 look for further downside with 14.9500 & 14.8800 as targets.

Comment The RSI is mixed to bullish.

Pivot (invalidation): 1294.50

Our preference Short positions below 1294.50 with targets at 1285.25 & 1281.00 in extension.

Alternative scenario Above 1294.50 look for further upside with 1297.00 & 1300.00 as targets.

Comment As Long as 1294.50 is resistance, expect a return to 1285.25.

Gold prices were a bit volatile yesterday as price briefly fell to a four-week low before reversing the declines. The volatility comes as investors gear up for today’s payrolls report which could potentially dictate which way the Fed will turn in its monetary policy. Payrolls rose at a weaker pace in February and recent data from ADP indicates a slower pace of job gains.

Will XAUUSD Hold on to the Support?

The precious metal has been consolidating above the support area of 1285 – 1282 for the past five daily sessions. It was only yesterday’s price action that briefly pierced the support area before pulling back. A break down from the support is essential for gold prices to continue the bearish momentum.

The Japanese yen was trading weak against the greenback on Thursday. Price managed to post modest gains as the USD jumped on the record weekly jobless claims report. This was ahead of today’s monthly payrolls report. Investors expect the US unemployment rate to hold steady at 3.8%, while wages are forecast to rise 0.2% on the month. The economy is projected to add 175k jobs during March.

Can USDJPY Maintain the Upside Momentum?

The currency pair broke the resistance level at 111.40 but the momentum looks to be getting slower. This comes after prices consolidated just below the resistance level prior to the breakout. In the near term, the USDJPY could retest the 111.40 level to establish support. As long as the support holds, we expect the momentum to continue. But failure to keep the momentum going could push the USDJPY below the resistance level and could consolidate prices once again.

The euro currency gave up the gains from the day before after some of the economic institutes in Germany cut growth forecasts. Forecasts for the leading economy in the eurozone were cut to 0.8% from 1.9% previously. There were also cautions that growth could further slow in the event of a no-deal Brexit. The grim data was underlined by German factory orders which fell 4.2% in February, marking the biggest drop in two years.

EURUSD Holding on to Support – Can it Break Out Higher?

The 4-hour chart in the EURUSD currency pair shows a potential inverse head and shoulders pattern that is taking shape. This comes after the common currency failed to break the resistance at 1.1246 and fell to 1.1217. This marks the formation of the right shoulder. If the neckline resistance at 1.1246 is breached, then the EURUSD could extend the gains to 1.1275 at the very least.

Ethereum has moved to its highest trading level since November 2018 after the ETHUSD performed a strong bullish breakout earlier this week. The ETHUSD pair has now broken above a triangle pattern on the four-hour time frame, with the pattern still holding upside projection of over $50.00. Technical indicators also show the recent move higher is gathering bullish trading momentum.

The ETHUSD pair is bullish while trading above the $160.00 level, key technical resistance is found at the $180.00 and $205.00 levels

If the ETHUSD pair trade below the $160.00 level, key support is found at the $155.00 and $149.00 levels.

Daily Pivots: (S1) 125.03; (P) 125.21; (R1) 125.46; More....

EUR/JPY's rebound from 123.65 is still in progress and intraday bias remains on the upside for 126.78/127.50 resistance zone first. On the downside, however, break of 123.56 will resume the fall from 127.50 to 61.8% retracement of 118.62 to 127.50 at 122.01.

In the bigger picture, rebound from 118.62 might have completed earlier than expected at 127.50. EUR/JPY is held well inside medium term falling channel, and below 55 week EMA (now at 127.61). That is, the down trend from 137.49 (2018 high) might still be in progress. Break of 118.62 will target 109.03/114.84 long term support zone. On the upside, however, break of 127.50 will extend the rebound from 118.62 to 133.12 key resistance instead.