Sample Category Title

Daily Pivots: (S1) 142.64; (P) 143.45; (R1) 143.95; More...

Intraday bias in GBP/JPY remains neutral at this point. On the upside, break of 145.67 will target 38.2% retracement of 156.59 to 139.88 at 146.26. Decisive break there will be a strong signal that fall from 156.59 has completed at 139.88, ahead of 139.29/47 key support zone. Further rally should then be seen to 149.30 resistance for confirmation. On the downside, though, break of 142.58 will turn focus back to 139.88 low instead.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. Focus remains on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

Cable was flat in Asia and started to gain traction in early Europe, maintaining slight bid tone, despite strong upside rejections in past two days.

Easing momentum conflicts bullish setup of MA’s (10/20/30), as US payrolls are eyed for fresh signals and also global trade conflicts expected to impact market actions.

North-turning 20SMA (1.2857) marks lower pivot, loss of which would generate stronger bearish signal, while break above falling 55SMA (1.3022) would spark continuation of recovery leg from 1.2661 (15 Aug low).

Res: 1.2982, 1.3022, 1.3043, 1.3104
Sup: 1.2913, 1.2896, 1.2857, 1.2810

Daily Pivots: (S1) 0.8972; (P) 0.8997; (R1) 0.9018; More...

Intraday bias in EUR/GBP remains neutral at this point. The cross is staying inside near term rising channel. Thus, outlook remains bullish for another rise. On the upside, above 0.9051 will target 0.9097 first. Break will resume the rally from 0.8620. However, break of 0.8937 support should have near term channel support firmly taken out. And that will indicate completion of rise from 0.8620 and turn outlook bearish.

In the bigger picture, EUR/GBP is staying in long term range pattern from 0.9304 (2016 high). The corrective structure of the fall from 0.9305 to 0.8620 is raising the chance that rise from 0.8312 to 0.9305 is an impulsive move. But we're not too confident on it yet. In any case, we'd stay cautious on strong resistance from 0.9304/5 to limit upside in case of further rally. Meanwhile, if there is another medium term decline, strong support will likely be seen from 0.8303 to contain downside.

Daily Pivots: (S1) 1.6112; (P) 1.6167; (R1) 1.6205; More....

EUR/AUD's rally continues today and reaches as high as 1.6288 so far. Intraday bias remains on the upside. Current rally should target 161.8% projection of 1.5271 to 1.5886 from 1.5601 at 1.6596, which is close to another key resistance level at 1.6587. On the downside, below 1.6121 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

In the bigger picture, EUR/AUD drew strong support from 55 week EMA and rebounded. And the development argues that medium term rally from 1.3624 (2017 low) is still in progress. Firm break of 1.6189 will target a test on 1.6587 (2015 high). On the downside, break of 1.5601 support will now be the first sign of medium term reversal, and will bring a test on 1.5271 key support for confirmation.

Daily Pivots: (S1) 1.1187; (P) 1.1250; (R1) 1.1282; More...

EUR/CHF dipped further to as low as 1.1208 so far as recent decline resumed. For now, there is no clear sign of bottoming yet and deeper fall could be seen. But we'd continue to expect strong support from key support zone at 1.1154/98 to contain downside and bring rebound. On the upside, break of 1.1319 minor resistance will indicate short term bottoming and turn bias back to the upside for 1.1452 resistance next. However, sustained break of 1.1154/98 will carry larger bearish implications.

In the bigger picture, for now, the 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 1.1173) 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): 68.40

Our preference Short positions below 68.40 with targets at 67.50 & 67.00 in extension.

Alternative scenario Above 68.40 look for further upside with 69.00 & 69.50 as targets.

Comment The RSI advocates for further decline.

Pivot (invalidation): 14.2300

Our preference Short positions below 14.2300 with targets at 14.0800 & 13.9800 in extension.

Alternative scenario Above 14.2300 look for further upside with 14.3000 & 14.3700 as targets.

Comment The RSI lacks upward momentum.

Pivot (invalidation): 1198.00

Our preference Long positions above 1198.00 with targets at 1204.00 & 1207.00 in extension.

Alternative scenario Below 1198.00 look for further downside with 1196.50 & 1193.00 as targets.

Comment The RSI shows upside momentum.

Pivot (invalidation): 2892.00

Our preference Short positions below 2892.00 with targets at 2867.00 & 2854.00 in extension.

Alternative scenario Above 2892.00 look for further upside with 2904.00 & 2917.00 as targets.

Comment As Long as the resistance at 2892.00 is not surpassed, the risk of the break below 2867.00 remains high.

Pivot (invalidation): 12080.00

Our preference Short positions below 12080.00 with targets at 11840.00 & 11770.00 in extension.

Alternative scenario Above 12080.00 look for further upside with 12167.00 & 12210.00 as targets.

Comment The RSI lacks upward momentum.