Sample Category Title

Daily Pivots: (S1) 0.8822; (P) 0.8849; (R1) 0.8878; More...

EUR/GBP continues to lose upside momentum and intraday bias is turned neutral first. Another rise is expected as long as 0.8808 minor support holds. Above 0.8901 will resume the whole rise from 0.8620 and target 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). However, break of 0.8808 support will be the first sign that whole rebound from 0.8620 is completed. Deeper fall would then be seen to 0.8724 support for confirmation.

In the bigger picture, EUR/GBP is staying in long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we'd be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we'd expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

Daily Pivots: (S1) 1.5701; (P) 1.5741; (R1) 1.5781; More....

EUR/AUD recovered after drawing support from 1.5696. But it's staying below 1.5886 temporary top. Intraday bias remains neutral first. Further rise is is expected with 1.5696 minor support intact. On the upside, break of 1.5886 will resume the rebound from 1.5271 and target 1.6189 high. However, as the rebound from 1.5271 is not clearly impulsive yet and momentum isn't too convincing. Break of 1.5695 minor support could be an early sign of near term topping. In such case, bias will be turned back to the downside for 1.5425 support.

In the bigger picture, current development suggests that fall from 1.6189 is a corrective move and has completed at 1.5217 already. Key support levels of 1.5153 and 38.2% retracement of 1.3624 to 1.6189 at 1.5209 were defended. And medium term rise from 1.3624 (2017 low) is still in progress. Break of 1.6189 will target 1.6587 key resistance (2015 high).

Daily Pivots: (S1) 1.1634; (P) 1.1648; (R1) 1.1664; More...

Intraday bias in EUR?CHF remains neutral at this point. On the downside, break of 1.1599 minor support will suggest that rebound from 1.1478 is completed. And bias will be turned back to the downside for 1.1478 and then a test on 1.1366 short term bottom. On the upside, firm break of 1.1656 will resume the corrective rise from 1.1366 to 61.8% retracement of 1.2004 to 1.1366 at 1.1760. But we would expect strong resistance from there to limit upside.

In the bigger picture, EUR/CHF was solidly rejected by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily and weekly MACD, 1.2004 should be a medium term top. And price action from 1.2004 is correcting the up trend from 1.0629. Such correction is expected to extend for a while and therefore, 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): 0.7450

Our preference Short positions below 0.7450 with targets at 0.7390 & 0.7375 in extension.

Alternative scenario Above 0.7450 look for further upside with 0.7470 & 0.7485 as targets.

Comment The RSI is mixed to bearish.

Pivot (invalidation): 1.3110

Our preference Long positions above 1.3110 with targets at 1.3160 & 1.3175 in extension.

Alternative scenario Below 1.3110 look for further downside with 1.3090 & 1.3065 as targets.

Comment The RSI calls for a rebound.

Pivot (invalidation): 0.9940

Our preference Short positions below 0.9940 with targets at 0.9905 & 0.9890 in extension.

Alternative scenario Above 0.9940 look for further upside with 0.9960 & 0.9975 as targets.

Comment The RSI calls for a drop.

Pivot (invalidation): 110.90

Our preference Long positions above 110.90 with targets at 111.20 & 111.35 in extension.

Alternative scenario Below 110.90 look for further downside with 110.80 & 110.65 as targets.

Comment The RSI has just broken above a bearish trend line.

Pivot (invalidation): 1.3230

Our preference Long positions above 1.3230 with targets at 1.3300 & 1.3325 in extension.

Alternative scenario Below 1.3230 look for further downside with 1.3190 & 1.3150 as targets.

Comment The RSI lacks downward momentum.

Pivot (invalidation): 1.1750

Our preference Short positions below 1.1750 with targets at 1.1705 & 1.1690 in extension.

Alternative scenario Above 1.1750 look for further upside with 1.1770 & 1.1790 as targets.

Comment As Long as 1.1750 is resistance, expect a return to 1.1705.

Pivot (invalidation): 74.00

Our preference Short positions below 74.00 with targets at 73.20 & 72.90 in extension.

Alternative scenario Above 74.00 look for further upside with 74.40 & 74.80 as targets.

Comment The RSI advocates for further decline.