Sample Category Title

Pivot (invalidation): 6.4600

Our preference Short positions below 6.4600 with targets at 6.3940 & 6.3700 in extension.

Alternative scenario Above 6.4600 look for further upside with 6.4900 & 6.5400 as targets.

Comment The break below 6.4600 is a negative signal that has opened a path to 6.3940.

Pivot (invalidation): 11880.00

Our preference Long positions above 11880.00 with targets at 12040.00 & 12095.00 in extension.

Alternative scenario Below 11880.00 look for further downside with 11800.00 & 11720.00 as targets.

Comment The RSI calls for a new upleg

Pivot (invalidation): 2875.00

Our preference Long positions above 2875.00 with targets at 2898.00 & 2911.00 in extension.

Alternative scenario Below 2875.00 look for further downside with 2866.00 & 2854.00 as targets.

Comment The RSI is supported by a rising trend line.

Pivot (invalidation): 111.40

Our preference Long positions above 111.40 with targets at 111.65 & 111.75 in extension.

Alternative scenario Below 111.40 look for further downside with 111.25 & 111.05 as targets.

Comment Intraday technical indicators are mixed and call for caution.

Pivot (invalidation): 1.2980

Our preference Long positions above 1.2980 with targets at 1.3045 & 1.3085 in extension.

Alternative scenario Below 1.2980 look for further downside with 1.2945 & 1.2900 as targets.

Comment A support base at 1.2980 has formed and has allowed for a temporary stabilisation.

Pivot (invalidation): 1.1575

Our preference Long positions above 1.1575 with targets at 1.1605 & 1.1620 in extension.

Alternative scenario Below 1.1575 look for further downside with 1.1555 & 1.1525 as targets.

Comment Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

AUDUSD has been making lower highs and lower lows since the end of January when it touched the 0.8135 resistance level. On Tuesday, the pair recorded a fresh more than the two-and-a-half-year low of 0.7084, while price action is at the moment taking place not far above this trough. The technical indicators, though, continue to send bearish signals, suggesting that the softness in the market is not over yet.

In the daily timeframe, the RSI indicator is standing below the threshold of 50 and is approaching the 30 level, while the MACD oscillator is strengthening its negative momentum below the trigger and zero lines. Both are confirming the medium-term and short-term bearish structure.

Should prices decline further, immediate support could be found around the 0.7000 strong psychological level, an area that was tested before on February 2016. Then a leg below that level, the pair could meet the 0.6826 barrier, taken from the low on January 2016, which is a significant level as the price posted a rebound.

However, if the market manages to pick up speed, the 0.7155 hurdle could offer nearby resistance ahead of the 20-day simple moving average (SMA) at 0.7240. A jump above these levels could re-challenge the medium-term descending trend line near the 40-SMA at 0.7300. A close above this line would raise chances for further increases towards the 0.7380 resistance, shifting the bearish outlook to a more neutral one.

In the medium-term, the outlook remains negative since prices hold below all the moving average lines, creating a strong sell-off rally.

The US dollar has moved towards the top end of its short-term trading range, as rising US bond and equity markets push the greenback higher. Asian stock markets have hit a fourteen- month trading low on Wednesday, causing the USDJPY pair to pause. USDJPY buyers will attempt to keep the price above the 111.75 level to keep the recent bullish momentum alive, while sellers will try to push the price below the 111.37 level.

The USDJPY pair is strongly intraday bullish while trading above the 111.75 level, key resistance is found at the 112.05 and 112.20 levels.

If the USDJPY pair moves below the 111.37 level, key support is found at the 110.90 and 110.38 levels.

The euro currency has come under heavy selling pressure against the US dollar after Tuesday rally higher was once again rejected from the 1.1650 resistance level. The EURUSD pair remains short-term bearish while trading below the 1.1600 support level. Sellers will attempt to break the 1.1528 support level, while buyers need a solid price close above the 1.1650 level.

The EURUSD pair is bearish while trading below the 1.1600 level, key support is located at the 1.1528 and 1.1500 levels.

If the EURUSD pair moves above the 1.1650 level, buyers are likely to test towards the 1.1681 and 1.1730 levels.

The price of ETH continues to slide amid increasing negative press. Last week, a detailed piece by TechCrunch said that ETH could be worthless because app developers using the network could continue to use it without paying the Ethereum Gas. In response, the founder of the Ethereum Network, Vitalik Buterin said that the assessment was right and that the network needed to change.

At the core of the current decline is the fading interest in Initial Coin Offerings (ICOs). Over the past two years, entrepreneurs have raised billions of dollars through ICOs. Most of these projects were either half-baked or outright scams. This led to the suspension of ICOs in a number of countries like South Korea and China.

ICOs were created as an alternative to Initial Public Offerings (IPOs). An IPO is a process through which a company lists its stock to the public market. It is a highly regulated industry with agencies like the SEC and ESMA being keen to avoid scams. Listing a company to the public market is very difficult. For example, in the US, a company needs investment bankers and documents to show its performance. ICOS aimed to bypass this step in a bid to protect investors. Therefore, anyone from any country was able to create a website, write a whitepaper and market a project. Many projects were paid using Ether, however, multiple failures led to a decline in the price of ETH.

The ETH/USD pair is trading at 167, which is lower than the YTD high of 1366, which was reached in January. The price is below all the major moving averages while the RSI is below the oversold territory of 30. Conventional wisdom recommends that you buy at this oversold territory. However, with no positive news in sight, the pair could continue falling further.