Sample Category Title

Pivot (invalidation): 15.0500

Our preference Long positions above 15.0500 with targets at 15.2500 & 15.3300 in extension.

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

Comment The RSI is bullish and calls for further advance.

Daily Pivots: (S1) 1.1203; (P) 1.1225; (R1) 1.1240; More.....

Intraday bias in EUR/USD is turned neutral with today's recovery and some consolidation could be seen. With 1.1285 minor resistance intact, further decline is in favor. Below 1.1209 will target 1.1176 low. Firm break there will resume whole decline from 1.2555. On the upside, however, break of 1.1285 minor resistance will turn bias back to the upside for 1.1448 instead.

In the bigger picture, medium term weakness was revived as the weak rebound from 1.1176 was rejected well below 55 week EMA and failed to sustain above 55 day EMA. Focus is back on 1.1176 low, with 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186. Decisive break there will resume whole down trend from 1.2555. Such decline target 1.0339 low next. On the upside, firm break of 1.1569 resistance is needed to be the first sign of medium term bottoming. Otherwise, downside breakout will be in favor.

Pivot (invalidation): 1296.00

Our preference Short positions below 1296.00 with targets at 1290.00 & 1286.50 in extension.

Alternative scenario Above 1296.00 look for further upside with 1299.50 & 1307.00 as targets.

Comment The RSI is mixed to bearish.

Pivot (invalidation): 2815.00

Our preference Long positions above 2815.00 with targets at 2844.75 & 2860.00 in extension.

Alternative scenario Below 2815.00 look for further downside with 2800.00 & 2791.50 as targets.

Comment The RSI advocates for further upside.

Pivot (invalidation): 11445.00

Our preference Long positions above 11445.00 with targets at 11560.00 & 11630.00 in extension.

Alternative scenario Below 11445.00 look for further downside with 11370.00 & 11300.00 as targets.

Comment The RSI advocates for further upside.

Daily Pivots: (S1) 1.2962; (P) 1.3049; (R1) 1.3120; More....

GBP/USD recovered ahead of 1.2960 support today. Intraday bias remains neutral first and consolidation from 1.3381 might extend further. As long as 1.2960 support holds, further rise is mildly in favor. On the upside, firm break of 1.3381 will target 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next. However, on the downside, firm break of 1.2960 will indicate that rebound from 1.2391 has completed earlier than expected. Deeper fall would then be seen to 1.2773 support for confirmation.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will dampen this view. Focus will be turned back to 1.2391 low and break will resume the fall from 1.4376 to 1.1946.

Pivot (invalidation): 5.5770

Our preference Long positions above 5.5770 with targets at 5.6600 & 5.7040 in extension.

Alternative scenario Below 5.5770 look for further downside with 5.5410 & 5.5100 as targets.

Comment The RSI is bullish and calls for further upside.

Pivot (invalidation): 0.7105

Our preference Long positions above 0.7105 with targets at 0.7130 & 0.7145 in extension.

Alternative scenario Below 0.7105 look for further downside with 0.7080 & 0.7065 as targets.

Comment A support base at 0.7105 has formed and has allowed for a temporary stabilisation.

Pivot (invalidation): 1.3375

Our preference Short positions below 1.3375 with targets at 1.3330 & 1.3300 in extension.

Alternative scenario Above 1.3375 look for further upside with 1.3400 & 1.3420 as targets.

Comment As Long as the resistance at 1.3375 is not surpassed, the risk of the break below 1.3330 remains high.

Pivot (invalidation): 0.9945

Our preference Long positions above 0.9945 with targets at 0.9975 & 0.9985 in extension.

Alternative scenario Below 0.9945 look for further downside with 0.9935 & 0.9920 as targets.

Comment The RSI calls for a new upleg.