Sample Category Title

Pivot (invalidation): 10800.00

Our preference Long positions above 10800.00 with targets at 10960.00 & 11030.00 in extension.

Alternative scenario Below 10800.00 look for further downside with 10747.00 & 10680.00 as targets.

Comment Investors have to remain cautious since these levels may trigger profit taking.

Pivot (invalidation): 5.4620

Our preference Long positions above 5.4620 with targets at 5.5080 & 5.5450 in extension.

Alternative scenario Below 5.4620 look for further downside with 5.4370 & 5.3970 as targets.

Comment A support base at 5.4620 has formed and has allowed for a temporary stabilisation.

Pivot (invalidation): 0.7150

Our preference Long positions above 0.7150 with targets at 0.7195 & 0.7230 in extension.

Alternative scenario Below 0.7150 look for further downside with 0.7110 & 0.7080 as targets.

Comment The RSI calls for a new upleg.

Pivot (invalidation): 1.3245

Our preference Short positions below 1.3245 with targets at 1.3195 & 1.3175 in extension.

Alternative scenario Above 1.3245 look for further upside with 1.3270 & 1.3310 as targets.

Comment A break below 1.3195 would trigger a drop towards 1.3175.

Pivot (invalidation): 0.9755

Our preference Short positions below 0.9755 with targets at 0.9705 & 0.9675 in extension.

Alternative scenario Above 0.9755 look for further upside with 0.9770 & 0.9785 as targets.

Comment The RSI is bearish and calls for further downside.

Pivot (invalidation): 108.40

Our preference Short positions below 108.40 with targets at 107.50 & 107.00 in extension.

Alternative scenario Above 108.40 look for further upside with 108.70 & 109.00 as targets.

Comment The RSI lacks upward momentum.

Pivot (invalidation): 1.2755

Our preference Long positions above 1.2755 with targets at 1.2820 & 1.2855 in extension.

Alternative scenario Below 1.2755 look for further downside with 1.2730 & 1.2705 as targets.

Comment Technically the RSI is above its neutrality area at 50.

Pivot (invalidation): 1.1530

Our preference Long positions above 1.1530 with targets at 1.1595 & 1.1620 in extension.

Alternative scenario Below 1.1530 look for further downside with 1.1505 & 1.1485 as targets.

Comment The RSI lacks downward momentum.

XAUUSD (1295.99): Gold prices posted a rebound after testing the 1280 handle once again. The retest of the support level has sent gold prices rising to test the previously established highs close to the 1295 region. It is likely that the precious metal will once again attempt to test the 1300 round number resistance. We expect the rally to show exhaustion around the current levels and could keep gold trading within the 1300 and 1280 range for the moment.

AUDUSD (0.7182): The Australian dollar was seen testing the resistance target level of 0.7191. With the currency maintaining strong gains near the resistance and showing no pullback to the downside, we expect that the bullish could exhaust at the current levels. Unless AUDUSD breaks past the 0.7191 resistance, the currency pair could pull back in the near term. The lower support at 0.7027 remains a key level of support to the downside.