Sample Category Title

Daily Pivots: (S1) 122.74; (P) 124.31; (R1) 125.12; More....

EUR/JPY dived to as low as 118.62 as down trend extended. Some consolidations could likely be seen after climax selling. But in any case, near term outlook will remain bearish 123.87 minor resistance holds. Another fall is still expected to revisit 119.90 fibonacci level first. Firm break there will target next projection level at 112.28. On the upside, touching of 123.87 will indicate short term bottoming and bring lengthier consolidation before staging another fall.

In the bigger picture, the strong break of 124.08 key support suggests that medium term rebound from 109.03 (2016 low) has completed at 137.49 already, with corrective structure. Fall from 137.39 is seen as a medium term fall, resuming the decline from 149.76 (2014 high). Such decline should break through 109.03 low next. This will remain the preferred case as long as 124.61 support turned resistance holds.

Pivot (invalidation): 5.4800

Our preference Short positions below 5.4800 with targets at 5.3560 & 5.3120 in extension.

Alternative scenario Above 5.4800 look for further upside with 5.5420 & 5.6100 as targets.

Comment The RSI shows downside momentum.

Pivot (invalidation): 0.6985

Our preference Short positions below 0.6985 with targets at 0.6895 & 0.6830 in extension.

Alternative scenario Above 0.6985 look for further upside with 0.7035 & 0.7075 as targets.

Comment A break below 0.6895 would trigger a drop towards 0.6830.

Pivot (invalidation): 1.3600

Our preference Long positions above 1.3600 with targets at 1.3655 & 1.3685 in extension.

Alternative scenario Below 1.3600 look for further downside with 1.3570 & 1.3530 as targets.

Comment The RSI advocates for further upside.

Pivot (invalidation): 0.9895

Our preference Short positions below 0.9895 with targets at 0.9840 & 0.9805 in extension.

Alternative scenario Above 0.9895 look for further upside with 0.9920 & 0.9940 as targets.

Comment The RSI is bearish and calls for further downside.

Daily Pivots: (S1) 0.8971; (P) 0.9002; (R1) 0.9027; More...

EUR/GBP attempts to rally and breached 0.9098 resistance but cannot sustain above this level yet. Still, intraday bias is now on the upside. Firm break of f 0.9098 resistance will extend the whole rise from 0.8655 to 0.9304 key resistance next. In any case, near term outlook will remain bullish as long as 0.8927 support holds.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). It should be in medium term rising leg for 0.9304. Meanwhile, in case of another fall, down side should be contained by 0.8620/55 support zone to bring rebound.

Pivot (invalidation): 108.15

Our preference Short positions below 108.15 with targets at 106.55 & 105.80 in extension.

Alternative scenario Above 108.15 look for further upside with 108.70 & 109.50 as targets.

Comment The RSI has broken down its 30 level.

Pivot (invalidation): 1.2615

Our preference Short positions below 1.2615 with targets at 1.2505 & 1.2465 in extension.

Alternative scenario Above 1.2615 look for further upside with 1.2660 & 1.2700 as targets.

Comment As Long as the resistance at 1.2615 is not surpassed, the risk of the break below 1.2505 remains high.

Pivot (invalidation): 1.1335

Our preference Long positions above 1.1335 with targets at 1.1400 & 1.1435 in extension.

Alternative scenario Below 1.1335 look for further downside with 1.1310 & 1.1270 as targets.

Comment The RSI calls for a new upleg.

Daily Pivots: (S1) 1.6169; (P) 1.6259; (R1) 1.6329; More....

EUR/AUD spiked higher to 1.6765 and breached 1.6587 key resistance. While it quickly retreated rather deeply, further rise is expected as long as 1.6189 support holds. Sustained break of 1.6587 will confirm up trend resumption for 1.7550 next. Nevertheless, break of 1.6189 will turn bias to the downside and bring deeper pull back first.

In the bigger picture, medium term rise from 1.3624 (2017 low) should be resuming. Such rise is part of the up trend from 1.1602 (2012 low). Sustained break of 1.6587 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7550. For now, in any case, medium term outlook will stay bullish as long as 1.5346 support holds, even in case of deeper pull back.