Sample Category Title
USD/CAD The Bias Remains Bullish
Pivot (invalidation): 1.3245
Our preference Long positions above 1.3245 with targets at 1.3295 & 1.3315 in extension.
Alternative scenario Below 1.3245 look for further downside with 1.3220 & 1.3195 as targets.
Comment The RSI is above its neutrality area at 50%.
USD/CHF Further Upside
Pivot (invalidation): 0.9845
Our preference Long positions above 0.9845 with targets at 0.9895 & 0.9930 in extension.
Alternative scenario Below 0.9845 look for further downside with 0.9820 & 0.9795 as targets.
Comment The RSI advocates for further upside.
S&P 500 Bullish Bias Above 2545.00
Pivot (invalidation): 2545.00
Our preference Long positions above 2545.00 with targets at 2636.00 & 2685.00 in extension.
Alternative scenario Below 2545.00 look for further downside with 2520.00 & 2473.00 as targets.
Comment The RSI calls for a new upleg.
DAX Intraday Support Around 10820.00
Pivot (invalidation): 10820.00
Our preference Long positions above 10820.00 with targets at 10960.00 & 11000.00 in extension.
Alternative scenario Below 10820.00 look for further downside with 10745.00 & 10680.00 as targets.
Comment A support base at 10820.00 has formed and has allowed for a temporary stabilisation.
Crude Oil Further Advance
Pivot (invalidation): 51.25
Our preference Long positions above 51.25 with targets at 52.60 & 53.30 in extension.
Alternative scenario Below 51.25 look for further downside with 50.75 & 50.40 as targets.
Comment The RSI advocates for further upside.
Silver Spot Range
Pivot (invalidation): 15.6300
Our preference Short positions below 15.6300 with targets at 15.5200 & 15.4500 in extension.
Alternative scenario Above 15.6300 look for further upside with 15.6900 & 15.7600 as targets.
Comment The RSI is mixed to bearish.
Gold Spot Range
Pivot (invalidation): 1293.25
Our preference Short positions below 1293.25 with targets at 1286.50 & 1283.00 in extension.
Alternative scenario Above 1293.25 look for further upside with 1295.00 & 1297.00 as targets.
Comment The RSI is mixed to bearish.
XAUUSD Intraday Analysis
XAUUSD (1289.87): Gold prices dipped lower from the consolidating triangle pattern formed near the highs. However, the declines are negligible which could keep the amount of the precious metal biased to the upside. The support at 1280 is likely to be tested once again in the near term if the price action remains weak to the downside. There is still a considerable risk that gold prices could rebound to the upside to test the 1300 level which could act as a round number resistance.
AUDUSD Intraday Analysis
AUDUSD (0.7197): The AUDUSD consolidated having moved little following the rally above 0.7191. Price action could potentially breach this support with no fresh highs on the radar. This could expose the downside risks with the lower support at 0.7022 pending a retest. To the upside, the next target is at 0.7292 which has potential if the AUDUSD manages to regain the lost bullish momentum.
EURUSD Intraday Analysis
EURUSD (1.1409): The EURUSD currency pair extended heavy losses on the day as the common currency fell sharply due to economic data and dovish comments from ECB's Draghi. The Euro slipped below the support of 1.1461, and it should trade sideways once again unless it breaches the 1.1461 which now is likely to act as resistance. To the downside, there is a risk of a decline to 1.1200, which is the lower support. Currently, the Euro holds off the dynamic support of the rising trend line.
