Sample Category Title

Pivot (invalidation): 0.7410

Our preference Long positions above 0.7410 with targets at 0.7440 & 0.7450 in extension.

Alternative scenario Below 0.7410 look for further downside with 0.7395 & 0.7380 as targets.

Comment A support base at 0.7410 has formed and has allowed for a temporary stabilisation.

Pivot (invalidation): 69.50

Our preference Short positions below 69.50 with targets at 68.65 & 68.25 in extension.

Alternative scenario Above 69.50 look for further upside with 69.90 & 70.45 as targets.

Comment The RSI is mixed to bearish.

Pivot (invalidation): 15.4800

Our preference Short positions below 15.4800 with targets at 15.3100 & 15.2500 in extension.

Alternative scenario Above 15.4800 look for further upside with 15.5500 & 15.6100 as targets. Comment As Long as 15.4800 is resistance, look for choppy price action with a bearish bias.

Pivot (invalidation): 1216.00

Our preference Short positions below 1216.00 with targets at 1208.00 & 1206.00 in extension.

Alternative scenario Above 1216.00 look for further upside with 1218.00 & 1220.00 as targets.

Comment As Long as 1216.00 is resistance, look for choppy price action with a bearish bias.

Pivot (invalidation): 1.1535

Our preference Long positions above 1.1535 with targets at 1.1560 & 1.1570 in extension.

Alternative scenario Below 1.1535 look for further downside with 1.1520 & 1.1505 as targets.

Comment The break above 1.1535 is a positive signal that has opened a path to 1.1560.

Pivot (invalidation): 0.8945

Our preference Long positions above 0.8945 with targets at 0.8985 & 0.9005 in extension.

Alternative scenario Below 0.8945 look for further downside with 0.8920 & 0.8900 as targets.

Comment The RSI is bullish and calls for further advance.

Pivot (invalidation): 6915

Our preference Short positions below 6915 with targets at 6430 & 6260 in extension.

Alternative scenario Above 6915 look for further upside with 7155 & 7350 as targets.

Comment The RSI has broken down its 30 level

XAUUSD (1213.68): Gold prices were seen trading flat with price action continuing to consolidate near the 1211 region. With the minor resistance level at 1219.75 holding out currently, Gold prices could be seen pushing lower. Unless the resistance level is breached, the price of the precious metal could remain under pressure. To the upside, above 1219.75 further gains could trigger a move toward the 1242.25 region. To the downside, there is a risk that Gold prices could extend its declines down to the support region of 1200.00 region

USDJPY (111.38): The USDJPY currency pair was seen consolidating below 112.18 level for the past five days. With the support level at 111.13 - 110.85 holding out, the bias is currently in favor to the upside. However, USDJPY will need to clear past the previous highs and potentially retest the resistance level at 112.28 region in order to confirm the upside. Failure to do so could keep the currency pair trading sideways for the moment. In the event of a break down below 111.13 - 110.85, USDJPY could trigger a correction.

EURUSD (1.1618): The EURUSD currency pair posted a strong rebound off the support level at 1.1540, to close at a two day high. Price action remains range bound within 1.1730 resistance and the said support level. On the 4-hour chart, the retracement is seen around the 38.2% level currently. Further gains could see price action rising toward 1.1664 marking a 61.8% retracement. We expect some moderation in the correction and as long as the support holds, the currency pair could be looking at changing the flat movement