Sample Category Title

Daily Pivots: (S1) 0.8898; (P) 0.8918; (R1) 0.8946; More...

EUR/GBP is still bounded in consolidation from 0.8957 and intraday bias stays neutral. Overall as long as 0.8815 support holds, outlook remains bearish and further rise is expected in the cross. On the upside, decisive break of 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963) should confirm completion of whole decline from 0.9305. EUR/GBP should then target 61.8% retracement at 0.9043 next.

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) 1.5614; (P) 1.5638; (R1) 1.5660; More....

EUR/AUD reaches as low as 1.5582 so far today as fall from 1.5888 resume extends. Intraday bias stays on the downside for 61.8% retracement of 1.5271 to 1.5888 at 1.5507. Sustained break there will pave the way to retest 1.5271 low. On the upside, above 1.5656 minor resistance will turn bias neutral and bring recovery, before staging another decline.

In the bigger picture, the rebound from 1.5271 was somewhat weaker than expected. EUR/AUD also failed to sustain above 55 day EMA and hints on some underlying bearishness. Though, for now, as long as 1.5271 support holds, medium term rise from m 1.3624 (2017 low) is still mildly in favor to extend through 1.6189 high, to 1.6587 key resistance (2015 high). Nevertheless, firm break of 1.5271 will complete a head and shoulder top pattern (ls: 1.5770, h: 1.6189, rs: 1.5888). That would indicate medium term reversal and turn outlook bearish.

Pivot (invalidation): 68.60

Our preference Long positions above 68.60 with targets at 69.30 & 69.90 in extension.

Alternative scenario Below 68.60 look for further downside with 68.25 & 67.75 as targets.

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

Pivot (invalidation): 15.3500

Our preference Short positions below 15.3500 with targets at 15.2100 & 15.1600 in extension.

Alternative scenario Above 15.3500 look for further upside with 15.4800 & 15.5500 as targets.

Comment The RSI is mixed with a bearish bias.

Daily Pivots: (S1) 1.1491; (P) 1.1510; (R1) 1.1533; More...

A temporary low in formed at 1.14879 in EUR/CHF and intraday bias is turned neutral for some consolidation. But upside of recovery should be limited by 1.1603 minor resistance to bring fall resumption. We're holding on to the view that corrective rebound from 1.1366 has completed at 1.1713. Break of 1.1478 support will confirm and target 1.1366 low and below. However, break of 1.1603 will turn bias back to the upside for 1.1713 resistance instead.

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 at 1.1198 (2016 high), 61.8% retracement of 1.0629 to 1.2004 at 1.1154 to contain downside.

Pivot (invalidation): 1211.50

Our preference Short positions below 1211.50 with targets at 1204.00 & 1200.00 in extension.

Alternative scenario Above 1211.50 look for further upside with 1217.00 & 1220.00 as targets.

Comment The RSI advocates for further decline.

Pivot (invalidation): 1.1505

Our preference Long positions above 1.1505 with targets at 1.1530 & 1.1545 in extension.

Alternative scenario Below 1.1505 look for further downside with 1.1490 & 1.1480 as targets.

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

Pivot (invalidation): 0.8920

Our preference Long positions above 0.8920 with targets at 0.8940 & 0.8955 in extension.

Alternative scenario Below 0.8920 look for further downside with 0.8900 & 0.8885 as targets.

Comment A support base at 0.8920 has formed and has allowed for a temporary stabilisation.

Pivot (invalidation): 0.7400

Our preference Short positions below 0.7400 with targets at 0.7375 & 0.7360 in extension.

Alternative scenario Above 0.7400 look for further upside with 0.7410 & 0.7425 as targets.

Comment The upward potential is likely to be limited by the resistance at 0.7400.

Pivot (invalidation): 1.2985

Our preference Long positions above 1.2985 with targets at 1.3010 & 1.3020 in extension.

Alternative scenario Below 1.2985 look for further downside with 1.2965 & 1.2945 as targets.

Comment A support base at 1.2985 has formed and has allowed for a temporary stabilisation.