Sample Category Title
Gold Spot Key Resistance At 1293.00
Pivot (invalidation): 1293.00
Our preference Short positions below 1293.00 with targets at 1288.50 & 1286.00 in extension.
Alternative scenario Above 1293.00 look for further upside with 1295.00 & 1297.00 as targets.
Comment A break below 1288.50 would trigger a drop towards 1286.00.
S&P 500 Supported By A Rising Trend Line
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 is mixed with a bullish bias.
DAX Key Resistance At 10960.00
Pivot (invalidation): 10960.00
Our preference Short positions below 10960.00 with targets at 10825.00 & 10784.00 in extension.
Alternative scenario Above 10960.00 look for further upside with 11015.00 & 11070.00 as targets.
Comment As Long as the resistance at 10960.00 is not surpassed, the risk of the break below 10825.00 remains high.
USD/TRY The Upside Prevails
Pivot (invalidation): 5.4500
Our preference Long positions above 5.4500 with targets at 5.5080 & 5.5450 in extension.
Alternative scenario Below 5.4500 look for further downside with 5.4250 & 5.3950 as targets.
Comment The RSI advocates for further upside.
AUD/USD Under Pressure
Pivot (invalidation): 0.7215
Our preference Short positions below 0.7215 with targets at 0.7170 & 0.7145 in extension.
Alternative scenario Above 0.7215 look for further upside with 0.7235 & 0.7260 as targets.
Comment The RSI calls for a new downleg.
USD/CAD Further Advance
Pivot (invalidation): 1.3240
Our preference Long positions above 1.3240 with targets at 1.3310 & 1.3340 in extension.
Alternative scenario Below 1.3240 look for further downside with 1.3210 & 1.3180 as targets.
Comment The RSI is bullish and calls for further advance.
USD/CHF The Bias Remains Bullish
Pivot (invalidation): 0.9815
Our preference Long positions above 0.9815 with targets at 0.9855 & 0.9880 in extension.
Alternative scenario Below 0.9815 look for further downside with 0.9785 & 0.9755 as targets.
Comment The RSI is above its neutrality area at 50%.
USD/JPY Turning Down
Pivot (invalidation): 108.35
Our preference Short positions below 108.35 with targets at 108.00 & 107.75 in extension.
Alternative scenario Above 108.35 look for further upside with 108.60 & 108.80 as targets.
Comment The break below 108.35 is a negative signal that has opened a path to 108.00.
GBP/USD Bullish Bias Above 1.2815
Pivot (invalidation): 1.2815
Our preference Long positions above 1.2815 with targets at 1.2880 & 1.2910 in extension.
Alternative scenario Below 1.2815 look for further downside with 1.2780 & 1.2735 as targets.
Comment Technically the RSI is above its neutrality area at 50.
EUR/USD Daily Outlook
Daily Pivots: (S1) 1.1438; (P) 1.1490; (R1) 1.1521; More.....
Intraday bias in EUR/USD remains neutral and further rise is expected with 1.1422 minor support intact. Rebound from 1.1215 is seen as correcting whole down trend from 1.2555. On the upside, above 1.1569 will extend the rebound through 1.1621 resistance to 38.2% retracement of 1.2555 to 1.1215 at 1.1727 next. On the downside, however, break of 1.1422 support will bring retest of 1.1214 low instead.
In the bigger picture, as long as 1.1814 resistance holds, down trend down trend from 1.2555 medium term top is still in progress and should target 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. However, break of 1.1814 will confirm completion of such down trend and turn medium term outlook bullish.
