Sample Category Title

Pivot (invalidation): 0.9915

Our preference Long positions above 0.9915 with targets at 0.9950 & 0.9965 in extension.

Alternative scenario Below 0.9915 look for further downside with 0.9900 & 0.9885 as targets.

Comment Technically the RSI is above its neutrality area at 50.

Pivot (invalidation): 110.55

Our preference Short positions below 110.55 with targets at 110.25 & 110.10 in extension.

Alternative scenario Above 110.55 look for further upside with 110.75 & 110.95 as targets.

Comment Technically the RSI is below its neutrality area at 50.

Pivot (invalidation): 1.3200

Our preference Long positions above 1.3200 with targets at 1.3250 & 1.3270 in extension.

Alternative scenario Below 1.3200 look for further downside with 1.3170 & 1.3155 as targets.

Comment The RSI lacks downward momentum.

Pivot (invalidation): 1.1635

Our preference Long positions above 1.1635 with targets at 1.1690 & 1.1710 in extension.

Alternative scenario Below 1.1635 look for further downside with 1.1615 & 1.1590 as targets.

Comment The RSI calls for a new upleg.

Eurozone retail PMI rose 0.1 to 51.8 in June. The overall gain was driven by German consumers while sales fell slightly on annual measure.

Commenting on the latest retail PMI survey data, Trevor Balchin, Economics Director at IHS Markit, said:

"The eurozone retail sector continued its recent solid run of growth in June. Sales have risen month-on-month since April 2017, except for a blip in April this year.

"The three largest economies in the eurozone continued to show widely differing trends, however. Germany posted a nineteenth straight monthly increase in retail sales, and the strongest expansion in nearly three years. In contrast, Italian sales fell for the seventh time in eight months, albeit at a weaker pace. France registered a decline for the first time since March 2017.

Full Eurozone retail PMI release.

Pivot (invalidation): 73.50

Our preference Long positions above 73.50 with targets at 74.25 & 74.75 in extension.

Alternative scenario Below 73.50 look for further downside with 73.10 & 72.70 as targets.

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

Pivot (invalidation): 15.9700

Our preference Long positions above 15.9700 with targets at 16.1500 & 16.2300 in extension.

Alternative scenario Below 15.9700 look for further downside with 15.9000 & 15.8200 as targets.

Comment The RSI is mixed to bullish.

Pivot (invalidation): 1254.00

Our preference Long positions above 1254.00 with targets at 1258.00 & 1261.00 in extension.

Alternative scenario Below 1254.00 look for further downside with 1250.00 & 1245.00 as targets.

Comment The RSI lacks upward momentum.

Pivot (invalidation): 0.8830

Our preference Short positions below 0.8830 with targets at 0.8800 & 0.8780 in extension.

Alternative scenario Above 0.8830 look for further upside with 0.8850 & 0.8865 as targets.

Comment As Long as the resistance at 0.8830 is not surpassed, the risk of the break below 0.8800 remains high.

6794 is our pivot (invalidation) point.

Our preference eye 6203.

Alternative scenario Above 6794, look for 7020 and 7154.

Comment The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is below its 20 MA (6633) but above its 50 MA (6589).