Sample Category Title

Daily Pivots: (S1) 1.1425; (P) 1.1481; (R1) 1.1512; More...

EUR/CHF's fall accelerates to as low as 1.1401 so far today. Intraday bias stays on the downside for 1.1366 low next. Break there will resume whole fall from 1.2004 and target 61.8% projection of 1.2004 to 1.1366 from 1.1713 at 1.1319. On the upside, above 1.1460 minor resistance will turn intraday bias neutral and bring consolidations. But upside of recovery should be limited well below 1.1556 resistance to bring fall resumption.

In the bigger picture, 1.2004 is seen as a medium term top with bearish divergence condition in daily and weekly MACD. 1.2000 is also an important resistance level. Hence, the corrective pattern from 1.2004 is expected to extend for a while before completion. We're not anticipating a break of 1.2004 in near term. Another decline cannot be ruled out yet. But in that case, strong support should be seen between 1.1198 (2016 high), 61.8% retracement of 1.0629 to 1.2004 at 1.1154 to contain downside.

Pivot (invalidation): 0.7395

Our preference Short positions below 0.7395 with targets at 0.7355 & 0.7330 in extension.

Alternative scenario Above 0.7395 look for further upside with 0.7410 & 0.7430 as targets.

Comment The RSI advocates for further downside.

Pivot (invalidation): 1.3025

Our preference Long positions above 1.3025 with targets at 1.3065 & 1.3095 in extension.

Alternative scenario Below 1.3025 look for further downside with 1.3000 & 1.2975 as targets.

Comment The RSI is mixed to bullish.

Pivot (invalidation): 0.9920

Our preference Long positions above 0.9920 with targets at 0.9950 & 0.9970 in extension.

Alternative scenario Below 0.9920 look for further downside with 0.9900 & 0.9890 as targets.

Comment A support base at 0.9920 has formed and has allowed for a temporary stabilisation.

Pivot (invalidation): 111.20

Our preference Short positions below 111.20 with targets at 110.85 & 110.70 in extension.

Alternative scenario Above 111.20 look for further upside with 111.45 & 111.60 as targets.

Comment A break below 110.85 would trigger a drop towards 110.70.

Pivot (invalidation): 1.2860

Our preference Short positions below 1.2860 with targets at 1.2800 & 1.2770 in extension.

Alternative scenario Above 1.2860 look for further upside with 1.2900 & 1.2930 as targets.

Comment The break below 1.2860 is a negative signal that has opened a path to 1.2800.

Pivot (invalidation): 1.1550

Our preference Short positions below 1.1550 with targets at 1.1510 & 1.1490 in extension.

Alternative scenario Above 1.1550 look for further upside with 1.1575 & 1.1600 as targets.

Comment As Long as 1.1550 is resistance, look for choppy price action with a bearish bias.

Pivot (invalidation): 66.50

Our preference Long positions above 66.50 with targets at 67.15 & 67.40 in extension.

Alternative scenario Below 66.50 look for further downside with 66.10 & 65.75 as targets.

Comment The RSI is mixed with a bullish bias.

Pivot (invalidation): 15.3400

Our preference Long positions above 15.3400 with targets at 15.4700 & 15.5100 in extension.

Alternative scenario Below 15.3400 look for further downside with 15.3000 & 15.2600 as targets.

Comment The RSI is mixed with a bullish bias.

Pivot (invalidation): 1210.50

Our preference Long positions above 1210.50 with targets at 1214.00 & 1216.00 in extension.

Alternative scenario Below 1210.50 look for further downside with 1208.00 & 1206.00 as targets.

Comment The RSI is mixed with a bullish bias.