Sample Category Title

USDJPY, Daily

In the Daily timeframe, USDJPY sharply broke the lower trend line of the rising wedge. The lips crossed the jaw of the Alligator, and the Chaikin dropped below 0. In this case, the beginning of a bearish trend is possible, but we need to wait for confirmation.

• We can consider selling USDJPY ONLY on consolidation below 154,000 support with a target of 152,000;

Daily Pivots: (S1) 0.9458; (P) 0.9488; (R1) 0.9539; More....

Intraday bias in EUR/CHF is turned neutral first with today's steep retreat. On the downside, firm break of 0.9242 support will indicate rejection by 38.2% retracement of 0.9928 to 0.9204 at 0.9481. Deeper fall would then be seen back to channel support (now at 0.9373). However, strong rebound from current level will keep the choppy rally from 0.9204 intact.

In the bigger picture, fall from 0.9928 should have completed at 0.9204 with the current strong rebound, after failing to sustain below 0.9252 (2023 low). It's still early to confirm long term bullish reversal. But even as a corrective move, current rebound could extend to 61.8% retracement of 0.9928 to 0.9204 at 0.9651. On the downside, firm break of 55 D EMA (now at 0.9387) will maintain medium term bearishness and bring retest of 0.9204 low.

Daily Pivots: (S1) 0.8388; (P) 0.8425; (R1) 0.8447; More...

Focus remains on 0.8403 support in EUR/GBP. Sustained break there will confirm short term topping at 0.8472, and bring deeper pullback to 55 D EMA (now at 0.8350). On the upside, though, break of 0.8472 will resume the rally from 0.8221 to 0.8624 key cluster resistance zone next.

In the bigger picture, a medium term bottom should be in place at 0.8221, just ahead of 0.8201 key support (2022 low). Sustained trading above 55 W EMA (now at 0.8442) will pave the way to 0.8624 cluster zone (38.2% retracement of 0.9267 to 0.8221 at 0.8621), even just as a correction to the down trend from 0.9267 (2022 high). But still, medium term outlook will be neutral at best as long as 0.8621/4 holds.

Daily Pivots: (S1) 1.6549; (P) 1.6596; (R1) 1.6674; More...

Intraday bias in EUR/AUD remains neutral as it's staying in range below 1.6800. In case of another dip, strong support is still expected from 38.2% retracement of 1.5963 to 1.6800 at 1.6480 to contain downside. On the upside, firm break of 1.6800 will resume the rally from 1.5963. However, sustained break of 1.6480 will bring deeper correction 61.8% retracement at 1.6283 instead.

In the bigger picture, EUR/AUD is holding on to 1.5996 key support (2024 low) despite brief breach. Larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 192.93; (P) 193.88; (R1) 195.67; More...

Intraday bias in GBP/JPY is turned neutral again with today's deep retreat. Overall outlook is unchanged that corrective pattern from 180.00 might extend. On the upside above 194.73 will target 198.94/197.79 resistance zone. On the downside, however, break of 192.05 minor support will turn bias back to the downside for 189.31 support instead.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 1.0431; (P) 1.0476; (R1) 1.0541; More...

Intraday bias in EUR/USD remains on the upside as rebound from 1.0176 is still in progress. Decisive break of 38.2% retracement of 1.1213 to 1.0176 at 1.0572 will raise the chance of bullish reversal, and target 61.8% retracement at 1.0817. On the downside break of 1.0371 minor support will retain near term bearishness and bring retest of 1.0176 low.

In the bigger picture, outlook is mixed as fall from 1.1274 (2023 high) could either be the second leg of the corrective pattern from 0.9534 (2022 low), or another down leg of the long term down trend. Strong support from 61.8 retracement of 0.9534 to 1.1274 at 1.0199 will favor the former case, and sustained break of 55 W EMA (now at 1.0722) will argue that the third leg might have started. However, sustained trading below 1.0199 will favor the latter case and bring retest of 0.9534 low.

Daily Pivots: (S1) 1.2383; (P) 1.2442; (R1) 1.2543; More...

GBP/USD's rebound from 1.2099 short term bottom continues today and intraday bias stays on the upside. Strong resistance could be seen 38.2% retracement of 1.3433 to 1.2099 at 1.2609, to limit upside. However, sustained trading above 1.2609 will raise the chance of reversal and target 61.8% retracement at 1.2923. On the downside, below 1.2375 minor support will turn intraday bias neutral first.

In the bigger picture, rise from 1.0351 (2022 low) should have already completed at 1.3433 (2024 high), and the trend has reversed. Further fall is now expected as long as 1.2810 resistance holds. Deeper decline should be seen to 61.8% retracement of 1.0351 to 1.3433 at 1.1528, even as a corrective move. However, firm break of 1.2810 will dampen this bearish view and bring retest of 1.3433 high instead.

Daily Pivots: (S1) 155.03; (P) 155.81; (R1) 156.77; More...

USD/JPY's fall from 158.86 short term top resumed by breaking through 154.77 today. Intraday bias is back on the downside for 38.2% retracement of 139.57 to 158.86 at 151.49. Sustained break there will suggest that whole rally from 138.57 has completed already. For now, risk will stay on the downside as long as 156.74 resistance holds, in case of recovery.

In the bigger picture, price actions from 161.94 are seen as a corrective pattern to rise from 102.58 (2021 low). The range of medium term consolidation should be set between 38.2% retracement of 102.58 to 161.94 at 139.26 and 161.94. Nevertheless, sustained break of 139.26 would open up deeper medium term decline to 61.8% retracement at 125.25.

Daily Pivots: (S1) 0.9030; (P) 0.9058; (R1) 0.9087; More…

USD/CHF's fall from 0.9200 accelerated lower today and the firm break of 0.9007 support argue that rise from 0.8374 has completed just ahead of 0.9223 key resistance. Intraday bias is back on the downside. Sustained break of 55 D EMA (now at 0.8959) will target 38.2% retracement of 0.8374 to 0.9200 at 0.8884 next. For now, risk will stay on the downside as long as 0.9200 resistance holds, in case of recovery.

In the bigger picture, as long as 0.9223 resistance holds, price actions from 0.8332 (2023 low) are seen as a medium term corrective pattern. That is, long term down trend is in favor to resume through 0.8332 at a later stage. However, sustained break of 0.9223 will be an important sign of bullish trend reversal.

Daily Pivots: (S1) 1.4311; (P) 1.4349; (R1) 1.4382; More...

Intraday bias in USD/CAD remains neutral as sideway trading continues below 1.4516. Further rally is expected as long as 1.4260 support holds. On the upside, firm break of 1.4516 will resume larger up trend to 1.4667/89 key resistance zone. Nevertheless, firm break of 1.4260 will turn bias to the downside for deeper pullback to 55 D EMA (now at 1.4221) and below.

In the bigger picture, up trend from 1.2005 (2021) is in progress for retesting 1.4667/89 key resistance zone (2020/2015 highs). Decisive break there will confirm long term up trend resumption. Next target is 100% projection of 1.2401 to 1.3976 from 1.3418 at 1.4993. Medium term outlook will remain bullish as long as 1.3976 resistance turned holds (2022 high), even in case of deep pullback.