Sample Category Title

Daily Pivots: (S1) 110.80; (P) 111.02; (R1) 111.46; More...

Intraday bias in USD/JPY remains neutral first. With 111.53 minor resistance intact, the corrective fall from 113.17 could extend lower. But downside should be contained by 38.2% retracement of 104.62 to 113.17 at 109.90 to bring rebound. On the upside, break of 111.53 minor resistance will turn bias to the upside for retesting 113.17 high first.

In the bigger picture, corrective fall from 118.65 (2016 high) should have completed with three waves down to 104.62. Decisive break of 114.73 resistance will likely resume whole rally from 98.97 (2016 low) to 100% projection of 98.97 to 118.65 from 104.62 at 124.30, which is reasonably close to 125.85 (2015 high). This will stay as the preferred case as long as 109.36 support holds.

Daily Pivots: (S1) 0.9899; (P) 0.9925; (R1) 0.9942; More...

USD/CHF is staying neutral as it's bounded in tight range of 0.9900/9957. With 0.9957 minor resistance intact, deeper decline remains mildly in favor. On the downside, break of 0.9900 will target 0.9856 support. Break there will pave the way to key support level at 0.9787. On the upside, above 0.9957 minor resistance will turn bias back to the upside for retesting 1.0067.

In the bigger picture, as long as 0.9787 support holds, we're still favoring the bullish case. That is, rise fro 0.9787 is resuming the whole up trend from 0.9186 and should target 1.0342 key resistance on resumption. However, break of 0.9787 will indicate medium term reversal and turn outlook bearish.

Daily Pivots: (S1) 1.1682; (P) 1.1711 (R1) 1.1758; More.....

No change in EUR/USD's outlook as it's bounded in consolidation from 1.1509. Intraday bias remains neutral first and more sideway trading could be seen. In case of stronger recovery, upside should be limited by 1.1851 resistance to bring fall resumption eventually. On the downside , firm break of 1.1507 will resume larger down trend through 50% retracement of 1.0339 to 1.2555 at 1.1447.

In the bigger picture, EUR/USD was rejected by 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. And, a medium term top was formed at 1.2555 already. Decline from there should extend further to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below. For now, even in case of rebound, we won't consider the fall from 1.2555 as finished as long as 1.1995 resistance holds.

Pivot (invalidation): 0.7410

Our preference Short positions below 0.7410 with targets at 0.7360 & 0.7340 in extension.

Alternative scenario Above 0.7410 look for further upside with 0.7430 & 0.7450 as targets.

Comment As Long as the resistance at 0.7410 is not surpassed, the risk of the break below 0.7360 remains high.

Pivot (invalidation): 1.3025

Our preference Long positions above 1.3025 with targets at 1.3095 & 1.3130 in extension.

Alternative scenario Below 1.3025 look for further downside with 1.2975 & 1.2940 as targets.

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

Pivot (invalidation): 0.9920

Our preference Long positions above 0.9920 with targets at 0.9950 & 0.9975 in extension.

Alternative scenario Below 0.9920 look for further downside with 0.9900 & 0.9880 as targets.

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

Pivot (invalidation): 110.90

Our preference Long positions above 110.90 with targets at 111.25 & 111.55 in extension.

Alternative scenario Below 110.90 look for further downside with 110.55 & 110.35 as targets.

Comment Intraday technical indicators are mixed and call for caution.

Pivot (invalidation): 1.3135

Our preference Short positions below 1.3135 with targets at 1.3095 & 1.3070 in extension.

Alternative scenario Above 1.3135 look for further upside with 1.3175 & 1.3210 as targets.

Comment A break below 1.3095 would trigger a drop towards 1.3070.

Pivot (invalidation): 1.1670

Our preference Short positions below 1.1670 with targets at 1.1625 & 1.1600 in extension.

Alternative scenario Above 1.1670 look for further upside with 1.1705 & 1.1730 as targets.

Comment As Long as the resistance at 1.1670 is not surpassed, the risk of the break below 1.1625 remains high.

Pivot (invalidation): 68.95

Our preference Long positions above 68.95 with targets at 70.15 & 70.60 in extension.

Alternative scenario Below 68.95 look for further downside with 68.70 & 68.35 as targets.

Comment The RSI is mixed with a bullish bias.