Sample Category Title

Pivot (invalidation): 16.0700

Our preference Short positions below 16.0700 with targets at 15.8400 & 15.7700 in extension.

Alternative scenario Above 16.0700 look for further upside with 16.1900 & 16.3000 as targets.

Comment The RSI advocates for further downside.

Pivot (invalidation): 1315.50

Our preference Long positions above 1315.50 with targets at 1326.00 & 1330.00 in extension.

Alternative scenario Below 1315.50 look for further downside with 1312.00 & 1309.00 as targets.

Comment The break above the resistance at 1315.50 triggered an upward acceleration to 1326.00.

Pivot (invalidation): 2675.50

Our preference Long positions above 2675.50 with targets at 2727.25 & 2753.00 in extension.

Alternative scenario Below 2675.50 look for further downside with 2657.50 & 2640.25 as targets.

Comment The RSI is bullish and calls for further upside.

Pivot (invalidation): 11100.00

Our preference Long positions above 11100.00 with targets at 11260.00 & 11320.00 in extension.

Alternative scenario Below 11100.00 look for further downside with 11050.00 & 11000.00 as targets.

Comment The RSI has just landed on a support around 30% and is reversing up

Pivot (invalidation): 5.2100

Our preference Short positions below 5.2100 with targets at 5.1570 & 5.1360 in extension.

Alternative scenario Above 5.2100 look for further upside with 5.2420 & 5.2730 as targets.

Comment The upward potential is likely to be limited by the resistance at 5.2100.

Daily Pivots: (S1) 0.7170; (P) 0.7221; (R1) 0.7300; More...

With 4 hour MACD crossed below signal line, a temporary top is in place at 0.7295 and intraday bias is turned neutral. Another rise is mildly in favor with 0.7180 minor support intact. Above 0.7295 will target 0.7393 cluster resistance (61.8% projection of 0.6722 to 0.7235 from 0.7076 at 0.7393). We'd expect strong resistance from there to limit upside to complete the rebound. On the downside, break of 0.7180 minor support will turn bias back to the downside for 0.7076 support. However, sustained break of 0.7393 will indicate near term reversal and target 100% projection at 0.7589 next).

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

Daily Pivots: (S1) 1.3107; (P) 1.3137; (R1) 1.3153; More...

With 1.3203 minor resistance intact, further fall is expected in USD/CAD. Decline from 1.3664 should target 61.8% projection of 1.3664 to 1.3180 from 1.3375 at 1.3076 next. Break will target 100% projection at 1.2891. On the upside, break of 1.3203 minor resistance will turn intraday bias neutral and bring consolidation. But further decline is expected as long as 1.3375 resistance holds.

In the bigger picture, structure of the medium term rise from 1.2061 (2017 low) is not clearly impulsive so far. Hence, we'd stay cautious on strong resistance from 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 and 1.3793 resistance to limit upside, and bring medium term topping. But in any case, medium term outlook will stay bullish as long as channel support (now at 1.3036) holds. Sustained break of 1.3793 will pave the way to retest 1.4689 (2015 high).

Pivot (invalidation): 0.7275

Our preference Short positions below 0.7275 with targets at 0.7225 & 0.7205 in extension.

Alternative scenario Above 0.7275 look for further upside with 0.7295 & 0.7325 as targets.

Comment The RSI advocates for further decline.

Pivot (invalidation): 1.3160

Our preference Short positions below 1.3160 with targets at 1.3115 & 1.3085 in extension.

Alternative scenario Above 1.3160 look for further upside with 1.3185 & 1.3210 as targets.

Comment As Long as 1.3160 is resistance, expect a return to 1.3115.

Pivot (invalidation): 0.9920

Our preference Long positions above 0.9920 with targets at 0.9955 & 0.9975 in extension.

Alternative scenario Below 0.9920 look for further downside with 0.9900 & 0.9885 as targets.

Comment The RSI lacks downward momentum.