Sample Category Title

Pivot (invalidation): 1.1695

Our preference Short positions below 1.1695 with targets at 1.1655 & 1.1625 in extension.

Alternative scenario Above 1.1695 look for further upside with 1.1725 & 1.1760 as targets.

Comment The RSI advocates for further downside.

Our pivot (invalidation) point stands at 1.1614.

Our preference rebound towards 1.1648.

Alternative scenario The downside breakout of 1.1614 would call for 1.1602 and 1.1595.

Comment The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the pair stands below its 20 and 50 MAs (respectively at 1.1626 and 1.1634).

Pivot (invalidation): 0.8855

Our preference Short positions below 0.8855 with targets at 0.8835 & 0.8820 in extension.

Alternative scenario Above 0.8855 look for further upside with 0.8875 & 0.8885 as targets.

Comment The RSI is mixed with a bearish bias.

Pivot (invalidation): 71.20

Our preference Short positions below 71.20 with targets at 70.00 & 69.40 in extension.

Alternative scenario Above 71.20 look for further upside with 72.10 & 72.70 as targets.

Comment The RSI is capped by a bearish trend line.

Pivot (invalidation): 15.8600

Our preference Short positions below 15.8600 with targets at 15.7500 & 15.6700 in extension.

Alternative scenario Above 15.8600 look for further upside with 15.9600 & 16.0200 as targets.

Comment The RSI is mixed to bearish.

Pivot (invalidation): 1245.50

Our preference Short positions below 1245.50 with targets at 1241.00 & 1239.00 in extension.

Alternative scenario Above 1245.50 look for further upside with 1249.00 & 1253.00 as targets.

Comment The RSI is mixed to bearish.

Our pivot (invalidation) point is at 6486.

Our preference The downside prevails as Long as 6486 is resistance.

Alternative scenario Above 6486, look for 6679 and 6794.

Comment The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 6352 and 6352).

XAUUSD (1242.25): Gold prices posted strong declines on the day on Wednesday. Price action was seen falling to the lows of 1242 level of support. However, the rebound off this level is expected as price action touches the previously established lows. The decline to the support level also coincides with a retest of the falling trend line as well. A daily close above 1247 could potentially trigger an upside rally in prices. The longer term resistance level is seen at 1282 which could be tested in the medium term.

USDJPY (112.28): The USDJPY currency pair was seen maintaining the bullish trend as price action is currently testing the highs near 112.00. The breakout comes as the USDJPY managed to close above a multi-year falling trend line. Price action at the current levels coincides with a minor resistance level that is being tested. A reversal off this level could keep USDJPY within the range of the trend line and the horizontal resistance level.

EURUSD (1.1674): The EURUSD currency pair was seen posting declines yesterday. Price action fell to a four day low following a reversal off the resistance level. On the 4-hour chart, the close below the previously established support level indicates further declines might be in store. However, the Stochastics oscillator is currently in the oversold level and indicating a hidden bearish divergence. A reversal near the current levels could push the EURUSD back toward testing the next resistance level at 1.1846 - 1.1824.