Sample Category Title

Pivot (invalidation): 2700.00

Our preference Long positions above 2700.00 with targets at 2765.00 & 2790.00 in extension.

Alternative scenario Below 2700.00 look for further downside with 2670.00 & 2640.00 as targets.

Comment The RSI is bullish and calls for further upside.

Pivot (invalidation): 11220.00

Our preference Long positions above 11220.00 with targets at 11480.00 & 11566.00 in extension.

Alternative scenario Below 11220.00 look for further downside with 11148.00 & 11050.00 as targets.

Comment The RSI is bullish and calls for further advance.

Daily Pivots: (S1) 1.5530; (P) 1.5587; (R1) 1.5629; More....

Intraday bias in EUR/AUD remains neutral for consolidation above 1.5519 temporary low. As long as 1.5693 minor resistance intact, further decline is expected. On the downside, break of 1.5519 will resume the decline from 1.6357 for 1.5271/5313 cluster support zone next. On the upside, break of 1.5693 should indicate short term bottoming, on bullish convergence condition in 4 hour MACD. In that case, stronger rebound would be seen back to 55 day EMA (now at 1.5928).

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.5984 support turned resistance is now needed to revive the prior medium term up trend. Otherwise, further decline will be in favor even in case of strong interim rebound.

Daily Pivots: (S1) 1.1390; (P) 1.1412; (R1) 1.1439; More...

Intraday bias in EUR/CHF remains neutral for the moment. The structure of price actions from 1.1501 suggests it's a consolidation pattern. In case of another fall, downside should be contained by 61.8% retracement of 1.1173 to 1.1501 at 1.1298 to bring rebound. On the upside, break of 1.1470 resistance will argue that rise from 1.1173 is resuming. Break of 1.1501 will revive the case of bullish trend reversal.

In the bigger picture, price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by support zone of 1.1198 (2016 high) and 61.8% retracement of 1.0629 to 1.2004 at 1.1154 to complete it and bring rebound. This cluster level is in proximity to long term channel support (now at 1.1261) too. A break of 1.2 key resistance is still expected in the medium term long term. However, sustained break of the mentioned support zone will mark reversal of the long term trend. In that case, 1.0629 key support will be back into focus.

Pivot (invalidation): 56.45

Our preference Long positions above 56.45 with targets at 57.95 & 58.35 in extension.

Alternative scenario Below 56.45 look for further downside with 55.90 & 55.60 as targets.

Comment The RSI advocates for further upside.

Pivot (invalidation): 14.2900

Our preference Long positions above 14.2900 with targets at 14.4600 & 14.5300 in extension.

Alternative scenario Below 14.2900 look for further downside with 14.2200 & 14.1600 as targets.

Comment The RSI is mixed to bullish.

Pivot (invalidation): 1216.50

Our preference Long positions above 1216.50 with targets at 1225.50 & 1228.00 in extension.

Alternative scenario Below 1216.50 look for further downside with 1211.00 & 1207.50 as targets.

Comment The RSI is mixed to bullish.

XAUUSD (1220.00): Gold prices advanced strongly on Friday. After breaking the local high of 1213.50, gold prices closed near the resistance area of 1223.50. This resulted in a brief pullback. As long as the pullback is limited, we expect gold prices to clear the resistance level. To the downside, the recently breached local highs near 1213.50 will likely act as support. This could potentially keep gold prices biased to the downside. But a break down below this level could push the price of precious metal down to 1204.08 level.

GBPUSD (1.2827): The volatility in the GBPUSD currency pair continues. After price action posted strong declines off the resistance area of 1.3132 - 1.1308, the sterling plunged back to the support area. The rebound off the 1.2828 level is however expected to keep the currency pair in the range. As long as the above resistance and support levels hold, GBPUSD could remain volatile within these levels. To the downside, a close below 1.2828 could expose the downside target of 1.2683 which is pending a retest of support.

EURUSD (1.1400): The EURUSD currency pair posted strong gains on Friday and price action eventually closed above the falling trend line. The Euro currency is seen still trading below the resistance level of 1.1435 - 1.1460. Clearing this resistance level is essential for the common currency to target the next resistance level of 1.1547 - 1.1525. To the downside, failure to break the resistance level could keep the Euro trading in a range. The lower support at 1.1315 - 1.1300 is likely to be tested. However, as long as this support holds, the common currency could be looking to push higher.