Sample Category Title
USD/TRY The Upside Prevails
Pivot (invalidation): 5.3670
Our preference Long positions above 5.3670 with targets at 5.3980 & 5.4050 in extension.
Alternative scenario Below 5.3670 look for further downside with 5.3490 & 5.3340 as targets.
Comment A support base at 5.3670 has formed and has allowed for a temporary stabilisation.
AUD/USD 0.7035 Expected
Pivot (invalidation): 0.7100
Our preference Short positions below 0.7100 with targets at 0.7065 & 0.7035 in extension.
Alternative scenario Above 0.7100 look for further upside with 0.7120 & 0.7145 as targets.
Comment A break below 0.7065 would trigger a drop towards 0.7035.
USD/CAD Aim @ 1.3370
Pivot (invalidation): 1.3290
Our preference Long positions above 1.3290 with targets at 1.3340 & 1.3370 in extension.
Alternative scenario Below 1.3290 look for further downside with 1.3270 & 1.3240 as targets.
Comment The RSI lacks downward momentum.
USD/CHF Key Resistance At 1.0005
Pivot (invalidation): 1.0005
Our preference Short positions below 1.0005 with targets at 0.9970 & 0.9955 in extension.
Alternative scenario Above 1.0005 look for further upside with 1.0020 & 1.0035 as targets.
Comment The upward potential is likely to be limited by the resistance at 1.0005.
USD/JPY Target 112.25
Pivot (invalidation): 111.60
Our preference Long positions above 111.60 with targets at 112.00 & 112.25 in extension.
Alternative scenario Below 111.60 look for further downside with 111.30 & 111.05 as targets.
Comment The RSI advocates for further upside.
GBP/USD Target 1.3105
Pivot (invalidation): 1.3190
Our preference Short positions below 1.3190 with targets at 1.3140 & 1.3105 in extension.
Alternative scenario Above 1.3190 look for further upside with 1.3225 & 1.3255 as targets.
Comment The RSI has broken down its 30 level.
EUR/USD Look For 1.1290
Pivot (invalidation): 1.1350
Our preference Short positions below 1.1350 with targets at 1.1310 & 1.1290 in extension.
Alternative scenario Above 1.1350 look for further upside with 1.1370 & 1.1390 as targets.
Comment The RSI is bearish and calls for further downside.
GBP/JPY Daily Outlook
Daily Pivots: (S1) 146.82; (P) 147.57; (R1) 148.03; More...
GBP/JPY is staying in consolidation below 148.57 temporary top and intraday bias remains neutral. Downside of retreat should be contained by 144.84 resistance turned support to bring rise resumption. On the upside, break of 148.57 will target 149.48 resistance first. Decisive break there will target 100% projection of 131.51 to 144.84 from 141.00 at 154.33 next.
In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline in turn argues that it's the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.48 will pave the way to 156.59 resistance and above.
S&P 500 Bullish Bias Above 2780.00
Pivot (invalidation): 2780.00
Our preference Long positions above 2780.00 with targets at 2803.00 & 2816.50 in extension.
Alternative scenario Below 2780.00 look for further downside with 2764.00 & 2750.00 as targets.
Comment The RSI calls for a new upleg.
DAX Bullish Bias Above 11582.00
Pivot (invalidation): 11582.00
Our preference Long positions above 11582.00 with targets at 11650.00 & 11690.00 in extension.
Alternative scenario Below 11582.00 look for further downside with 11515.00 & 11415.00 as targets.
Comment The RSI is around its neutrality area at 50%
