Sample Category Title

Pivot (invalidation): 0.9905

Our preference Long positions above 0.9905 with targets at 0.9940 & 0.9965 in extension.

Alternative scenario Below 0.9905 look for further downside with 0.9880 & 0.9855 as targets.

Comment The RSI shows upside momentum.

UK Prime Minister Theresa May speaks regarding leadership challenge. In short, May pledged to contest the no-confidence vote with "everything I have got". She believed the deal with EU is "attainable". And she warned that a change of leadership in the Conservative now will "put the future of our country at risk and create uncertainty we can least afford it".

And she also warned that a change of leadership now would "hand the control of the Brexit negotiation to opposition MPs". And the new leader will have to extend or rescind article 50, "delaying or even stopping " Brexit. Video below.

https://www.facebook.com/abcnews.au/videos/747902895582551/?notif_id=1544604589275357&notif_t=live_video

Pivot (invalidation): 2582.00

Our preference Long positions above 2582.00 with targets at 2682.00 & 2708.00 in extension.

Alternative scenario Below 2582.00 look for further downside with 2555.00 & 2525.00 as targets.

Comment The RSI is mixed to bullish.

Pivot (invalidation): 10940.00

Our preference Short positions below 10940.00 with targets at 10610.00 & 10450.00 in extension.

Alternative scenario Above 10940.00 look for further upside with 11060.00 & 11200.00 as targets.

Comment The index currently faces a challenging resistance area at 10940.00.

Pivot (invalidation): 51.40

Our preference Long positions above 51.40 with targets at 52.70 & 53.30 in extension.

Alternative scenario Below 51.40 look for further downside with 50.50 & 50.10 as targets.

Comment The RSI advocates for further advance. The prices are seeking support from 20-period moving average.

Pivot (invalidation): 14.6400

Our preference Short positions below 14.6400 with targets at 14.4900 & 14.4000 in extension.

Alternative scenario Above 14.6400 look for further upside with 14.7200 & 14.8000 as targets.

Comment The RSI is mixed with a bearish bias.

Pivot (invalidation): 1247.50

Our preference Short positions below 1247.50 with targets at 1240.50 & 1237.50 in extension.

Alternative scenario Above 1247.50 look for further upside with 1251.00 & 1253.00 as targets.

Comment The RSI is mixed to bearish.

XAUUSD (1244.33): Gold prices retested the previous highs as price action rallied back to the 1248 region. However, the lower high in price sent gold lower to test the support at 1242.25. While gold is currently seen posting a rebound off this level, we expect the support to give way eventually. This could potentially extend the declines in gold amid a correction to the downside. The untested support at 1227 remains a key level of interest. However, failure to post the decline down to 1227 could result in gold prices attempting to retest the 1248 resistance once again.

GBPUSD (1.2508): The GBPUSD currency pair, having cleared the support area of 1.2683 is seen extending the declines further. The rebound off the initial local low formed at 1.2556 saw prices breaking past this low to reach the declines further. The next main support in GBPUSD is seen at 1.2356. We expect the cable to continue posting declines eventually testing the next support level. To the upside, any gains are likely to be capped near 1.2556 followed by the breached support level of 1.2683 which could now turn to resistance.

EURUSD (1.1325): The EURUSD currency is seen maintaining a bearish mode as price action briefly retested the falling trend line only to test the lower support. The consolidation near the lower support area of 1.1315 - 1.1300 signals a potential break down below this level. This could potentially extend the declines in the EURUSD to the lower support at 1.1220 region. The common currency continues to maintain a sideways range in the medium term. This is expected to continue into tomorrow's ECB meeting.