Sample Category Title

Cable continues to trend higher and hit new high at 1.3257, the highest since 21 Sep, on track for final attack at 1.33 zone barriers (1.3298 was high of 20Sep and 1.3316 is Fibo 38.2% of larger 1.4376/1.2661 Apr/Aug fall). Positive tone from Brexit talks keeps pound supported as the latest news suggest that a deal could be reached as early as Monday. British PM May briefed her inner Cabinet that Irish issue is close to being settled and that the final deal is very near. Bullish daily techs add to positive outlook, however, bulls are expected to face strong headwinds at 1.33 zone, with strongly overbought slow stochastic adding to risk of consolidative corrective action. Supports at 1.3200 zone should ideally contain and keep bulls intact, as eventual break above 1.3298/1.3316 pivots on stronger positive signal of Brexit deal could spark acceleration towards barriers at 1.35 zone (1.3472 was 07 June high and 1.3519 marks 50% retracement of 1.4376/1.2661). The pair is on track for repeated strong weekly bullish close which adds to positive outlook.

Res: 1.3257, 1.3276, 1.3297, 1.3316
Sup: 1.3209, 1.3170, 1.3154, 1.3133

Pivot (invalidation): 71.85

Our preference Short positions below 71.85 with targets at 70.50 & 70.00 in extension.

Alternative scenario Above 71.85 look for further upside with 72.60 & 73.30 as targets.

Comment The RSI advocates for further decline.

Daily Pivots: (S1) 129.43; (P) 129.82; (R1) 130.43; More....

No change in EUR/JPY's outlook as 130.49 minor resistance remains intact. Further fall is expected in the cross. Decline fro 1132.12 will target 127.85 support first. Break there will pave the way to retest 124.89. On the upside, though, above 130.49 minor resistance will turn bias back to the upside for 133.12 instead.

In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

Pivot (invalidation): 14.4700

Our preference Long positions above 14.4700 with targets at 14.6200 & 14.7100 in extension.

Alternative scenario Below 14.4700 look for further downside with 14.3800 & 14.3100 as targets.

Comment The RSI is mixed to bullish.

Pivot (invalidation): 1214.50

Our preference Long positions above 1214.50 with targets at 1228.50 & 1235.00 in extension.

Alternative scenario Below 1214.50 look for further downside with 1205.50 & 1200.00 as targets.

Comment The RSI is mixed to bullish.

Pivot (invalidation): 2785.00

Our preference Short positions below 2785.00 with targets at 2710.00 & 2665.00 in extension.

Alternative scenario Above 2785.00 look for further upside with 2810.00 & 2831.25 as targets.

Comment A break below 2710.00 would trigger a drop towards 2665.00.

Daily Pivots: (S1) 0.8734; (P) 0.8755; (R1) 0.8780; More...

Intraday bias in EUR/GBP remains neutral for consolidation above 0.8722 temporary low. Upside of recovery should be limited below 0.8847 support turned resistance to bring another fall. On the downside, break of 0.8722 will extend the decline from 0.9097 for 0.8620 low first. Decisive break there will resume whole down trend from 0.9304. In that case, next target will be 100% projection of 0.9305 to 0.8620 from 0.9097 at 0.8412.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Current development suggests that fall from 0.9303, as a down leg in the pattern, is still in progress. But in case of deeper fall, downside should be contained by 0.8116 cluster support, 50% retracement of 0.6935 (2015 low) to 0.9304 at 0.8120, to bring rebound.

Pivot (invalidation): 11700.00

Our preference Short positions below 11700.00 with targets at 11390.00 & 11210.00 in extension.

Alternative scenario Above 11700.00 look for further upside with 11900.00 & 12000.00 as targets.

Comment The immediate trend remains down and the momentum is strong.

Daily Pivots: (S1) 1.6215; (P) 1.6287; (R1) 1.6346; More....

EUR/AUD failed to take out 1.6353 resistance and retreated again./ Intraday bias stays neutral for the moment. On the upside, sustained break of 1.6353 will resume larger up trend and target 1.6587 key resistance next. On the downside, however, break of 1.6145 support will focus back to 1.5984 support instead.

In the bigger picture, up trend from 1.3624 (2017 low) is still in progress. Further rise should be seen to retest 1.6587 (2015 high). Decisive break there will resume the long term rally and target 1.7488 fibonacci level. On the downside, break of 1.5984 support is need to be the first sign of medium term reversal. Otherwise, outlook will remain bullish in case of deep pull back.

Pivot (invalidation): 6.0080

Our preference Short positions below 6.0080 with targets at 5.8620 & 5.8080 in extension.

Alternative scenario Above 6.0080 look for further upside with 6.0810 & 6.1330 as targets.

Comment The RSI lacks upward momentum.