Sample Category Title

Pivot (invalidation): 1.2965

Our preference Long positions above 1.2965 with targets at 1.3045 & 1.3070 in extension.

Alternative scenario Below 1.2965 look for further downside with 1.2945 & 1.2925 as targets.

Comment The RSI advocates for further advance.

Pivot (invalidation): 0.9715

Our preference Short positions below 0.9715 with targets at 0.9655 & 0.9640 in extension.

Alternative scenario Above 0.9715 look for further upside with 0.9740 & 0.9775 as targets.

Comment The RSI is bearish and calls for further decline.

Pivot (invalidation): 111.30

Our preference Short positions below 111.30 with targets at 110.70 & 110.50 in extension.

Alternative scenario Above 111.30 look for further upside with 111.45 & 111.60 as targets.

Comment The RSI advocates for further decline.

Pivot (invalidation): 1.2985

Our preference Long positions above 1.2985 with targets at 1.3040 & 1.3065 in extension.

Alternative scenario Below 1.2985 look for further downside with 1.2960 & 1.2930 as targets.

Comment The RSI lacks downward momentum.

Trump's hostile rhetorics against the EU seem to have draw strong reactions from the latter. European Commission President Jean-Claude Juncker points to the "ceasefire agreement" with Trump made just a month ago, and said he hoped Trump will refrain from imposing auto tariffs. However, Juncker warned that the EU won't let others dictate its own trade policies. And, if Trump violates the deal impose auto tariffs, the EU will "also do that".

ECB Governing Council member Olli Rehn also urged Trump to stop the "regrettable" trade war rhetoric. And he warned that US exit from the WTO could damage international order. And he hit on Trump's ungrounded claims and said ECB is certainly not manipulating the Euro. Rehn also defended China and said the Yuan is weaker because of trade war threat.

Another ECB Governing Council member Ewald Nowotny also said "the economic policy of the United States is currently one of the substantial risks to the global economy." And he warned that unpredictable trade and economic policy, biased rulings in U.S. courts and the dominant role of the Dollar were bad for Europe. He added that there was an increasing interest for Europe "to free oneself from a one-sided dominance."

In a Bloomberg interview, Trump rejected EU's offer to scrap auto tariffs on cars if US does the same. He said "it's not good enough" and added that "Their consumer habits are to buy their cars, not to buy our cars." He also added that EU is "almost as bad as China, just smaller."

Pivot (invalidation): 1.1690

Our preference Short positions below 1.1690 with targets at 1.1640 & 1.1615 in extension.

Alternative scenario Above 1.1690 look for further upside with 1.1710 & 1.1730 as targets.

Comment The RSI is mixed to bearish.

Pivot (invalidation): 69.80

Our preference Long positions above 69.80 with targets at 70.50 & 70.95 in extension.

Alternative scenario Below 69.80 look for further downside with 69.55 & 69.15 as targets.

Comment The RSI is mixed to bullish.

Pivot (invalidation): 14.7000

Our preference Short positions below 14.7000 with targets at 14.4900 & 14.3600 in extension.

Alternative scenario Above 14.7000 look for further upside with 14.8300 & 14.9200 as targets.

Comment The RSI is mixed with a bearish bias.

Pivot (invalidation): 1205.50

Our preference Short positions below 1205.50 with targets at 1196.00 & 1192.50 in extension.

Alternative scenario Above 1205.50 look for further upside with 1208.00 & 1212.50 as targets.

Comment The RSI is mixed with a bearish bias.

Pivot (invalidation): 1.1330

Our preference Short positions below 1.1330 with targets at 1.1270 & 1.1250 in extension.

Alternative scenario Above 1.1330 look for further upside with 1.1350 & 1.1370 as targets.

Comment The RSI is mixed to bearish.