Sample Category Title

Pivot (invalidation): 2740.00

Our preference Long positions above 2740.00 with targets at 2765.00 & 2790.00 in extension.

Alternative scenario Below 2740.00 look for further downside with 2723.00 & 2710.00 as targets.

Comment The RSI is bullish and calls for further upside.

Daily Pivots: (S1) 1.1348; (P) 1.1378; (R1) 1.1394; More...

Intraday bias in EUR/CHF is turned neutral as rebound from 1.1310 failed below 1.1444 resistance. Further rise is still expected as long as 1.1310 holds. ON the upside, break of 1.1444 will whole rally from 1.1181 for 1.1501 key resistance next. However, break of 1.1310 will turn bias to the downside for 1.1181 low again.

In the bigger picture, price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by 1.1154/98 support zone to complete it and bring rebound. Decisive break of 1.1501 (38.2% retracement of 1.2004 to 1.1173 at 1.1490) will confirm completion of the correction, on bullish convergence condition in daily MACD. Further rise should be seen to 61.8% retracement at 1.1687 and above next.

Pivot (invalidation): 11115.00

Our preference Long positions above 11115.00 with targets at 11280.00 & 11330.00 in extension.

Alternative scenario Below 11115.00 look for further downside with 11040.00 & 10970.00 as targets.

Comment The RSI is bullish and calls for further advance.

Pivot (invalidation): 0.7080

Our preference Long positions above 0.7080 with targets at 0.7135 & 0.7150 in extension.

Alternative scenario Below 0.7080 look for further downside with 0.7065 & 0.7050 as targets.

Comment The RSI calls for a bounce.

Pivot (invalidation): 1.3230

Our preference Long positions above 1.3230 with targets at 1.3275 & 1.3305 in extension.

Alternative scenario Below 1.3230 look for further downside with 1.3210 & 1.3190 as targets.

Comment The RSI is above its neutrality area at 50%.

Pivot (invalidation): 1.0060

Our preference Long positions above 1.0060 with targets at 1.0095 & 1.0110 in extension.

Alternative scenario Below 1.0060 look for further downside with 1.0035 & 1.0020 as targets.

Comment A support base at 1.0060 has formed and has allowed for a temporary stabilisation.

Pivot (invalidation): 110.85

Our preference Long positions above 110.85 with targets at 111.25 & 111.45 in extension.

Alternative scenario Below 110.85 look for further downside with 110.65 & 110.50 as targets.

Comment The RSI advocates for further advance.

Pivot (invalidation): 1.2885

Our preference Short positions below 1.2885 with targets at 1.2840 & 1.2810 in extension.

Alternative scenario Above 1.2885 look for further upside with 1.2905 & 1.2925 as targets.

Comment As Long as the resistance at 1.2885 is not surpassed, the risk of the break below 1.2840 remains high.

Pivot (invalidation): 1.1285

Our preference Short positions below 1.1285 with targets at 1.1260 & 1.1245 in extension.

Alternative scenario Above 1.1285 look for further upside with 1.1300 & 1.1320 as targets.

Comment As Long as 1.1285 is resistance, look for choppy price action with a bearish bias.

XAUUSD (1308.46): Gold prices slipped from intraday high of 1318.07. However, price remains firmly within get bullish flag pattern that is formed on the daily chart. With the market sentiment a bit choppy, we expect this to be reflected in the price action of gold. The resistance level sits at 1321.27 which could be tested in the near term. There is also a potential ascending triangle pattern that is currently shaping up on the 4-hour chart. A successful upside breakout from this ascending triangle could potentially validate the bullish flag pattern with further gains likely in store to the upside. If the minor rising trend line is breached, we could expect to see some declines in store to the downside with the flag pattern being invalidated.