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Daily Pivots: (S1) 115.78; (P) 116.66; (R1) 117.09; More...

EUR/JPY's decline accelerates to as low as 115.92 so far and intraday bias remains on the downside. Current fall from 124.08 should target 61.8% retracement of 109.20 to 124.08 at 114.88 next. And, sustained break there will pave the way to retest 109.20 low. On the upside, above 117.31 minor resistance will turn bias neutral and bring consolidations. But upside should be limited below 119.31 support turned resistance and bring another fall.

In the bigger picture, the firm break of 38.2% retracement of 109.20 to 124.08 at 118.39 indicates that medium term rise from 109.20 is completed at 124.08. That's well below 126.09 key support turned resistance. Also, EUR/JPY failed to sustain above 55 week EMA. Deeper decline would now be seen back to 109.20 low. Overall, the down trend from 149.76 (2014 high) is not completed yet. Break of 109.20 will resume such down trend towards 94.11 low. In any case, break of 126.09 is needed needed to confirm medium term reversal.

Daily Pivots: (S1) 136.58; (P) 137.15; (R1) 137.48; More...

Intraday bias in GBP/JPY remains on the downside as choppy fall from 144.77 continues. The cross should target medium term fibonacci level at 135.39. At this point, price actions from 148.42 are viewed as a correction. Hence, we'd anticipate strong support from 135.39 to bring rebound. On the upside, break of 138.25 minor resistance will turn bias to the upside for 140.08 resistance. Break will indicate near term reversal. However, sustained break of 135.39 will target 61.8% retracement at 132.31.

In the bigger picture, price actions from 122.36 medium term bottom are still seen as a corrective pattern. Main focus is on 38.2% retracement of 195.86 to 122.36 at 150.42. Rejection from there will turn the cross into medium term sideway pattern. Or, sustained break of 50% retracement of 122.36 to 148.42 at 135.39 will turn outlook bearish for a test on 122.36 low. Though, sustained break of 150.42 will extend the rebound towards 61.8% retracement of 195.86 to 122.36 at 167.78.

Daily Pivots: (S1) 1.4085; (P) 1.4150; (R1) 1.4206; More...

Intraday bias in EUR/AUD remains neural as it's staying in range of 1.3872/4309. With 1.3872 support intact, further rise is in favor. And, we're mildly favoring the case of trend reversal after defending key support level at 1.3671. On the upside, break of 1.4309 will extend the rebound from 1.3624 to 1.4721 key resistance level next. Decisive break of 1.4721 should confirm larger trend reversal. However, firm break of 1.3872 support will dampen our bullish view. In such case, intraday bias will be turned back to the downside for 1.3624 low instead.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction could be completed after testing 1.3671 key support. Break of 1.4721 cluster resistance (38.2% retracement of 1.6587 to 1.3624 at 1.4756) should confirm this case and target 61.8% retracement at 1.5455 and above. Overall, we'd expect the up trend from 1.1602 to resume later. However, sustained break of 1.3671 will invalidate our bullish view and would turn extend the fall from 1.6587 towards 1.1602 long term bottom.

Daily Pivots: (S1) 0.8468; (P) 0.8508; (R1) 0.8529; More...

EUR/GBP is holding above 0.8483 temporary low and intraday bias remains neutral. As noted before, decline from 0.8786 could be developing into the third leg of the whole corrective pattern from 0.9304. And hence, deeper fall is expected ahead. On the downside, break of 0.8483 will turn bias to the downside for 0.8402 support first. Decisive break there should confirm our bearish view and target 0.8303 and below. As fall from 0.9304 is viewed as a corrective move, we'd expect strong support at 0.8116/20 cluster support to contain downside and bring rebound. On the upside, above 0.8604 minor resistance will delay the bearish case. That is, one more recovery will be seen to complete a five wave triangle pattern fro 0.8303 before completion.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. Such decline is likely ready to resume and should make a new low below 0.8303. At this point, we'd expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside. Rise from 0.6935 (2015 low) will resume at a later stage to 0.9799 (2008 high). However, sustained break of 0.8116 could bring deeper decline to next key support level at 0.7564 before the correction completes.

Daily Pivots: (S1) 1.0667; (P) 1.0683; (R1) 1.0698; More...

EUR/CHF is still bounded in range above 1.0668 and intraday bias stays neutral. But the bearish outlook is unchanged with 1.0734 resistance intact. That is, rebound from 1.0629 has completed at 1.0823. And the larger decline from 1.1198 is likely still in progress. On the downside, below 1.0668 will target 1.0620/29 key support zone. Decisive break there will resume whole fall from 1.1198 and target next long term fibonacci level at 1.0485. Nonetheless, break of 1.0734 will suggest that pull back from 1.0823 is completed and turn bias back to the upside for this resistance.

In the bigger picture, the decline from 1.1198 is seen as a corrective move. Current development suggests that it's not completed yet. Sustained trading below 38.2% retracement of 0.9771 to 1.1198 at 1.0653 will target 50% retracement at 1.0485. In any case, break of 1.0823 resistance is needed to be the first indication of reversal. Otherwise, deeper fall is still expected even in case of recovery.

Daily Pivots: (S1) 0.7477; (P) 0.7495; (R1) 0.7517; More...

Intraday bias in AUD/USD is turned neutral for the moment. Rise from 0.7158 is likely completed at 0.7748. And, near term trend has reversed. Sustained break of 0.7490 support should confirm this bearish case. And, deeper fall should be seen back to 0.7158 support zone next. On the upside, above 0.7351 minor resistance with dampen this view and turn bias back to the upside for 0.7586/7678 resistance zone instead.

In the bigger picture, we're still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seen to 55 month EMA (now at 0.8142) and above.

Daily Pivots: (S1) 1.3305; (P) 1.3331; (R1) 1.3353; More....

Intraday bias in USD/CAD remains on the downside for the moment. Corrective fall from 1.3534 is resuming and break of 1.3263 will confirm. In that case, we'd expect strong support from 1.3184 cluster level (61.8% retracement of 1.2968 to 1.3534 at 1.3184, 100% projection of 1.3534 to 1.3263 from 1.3455 at 1.3814 too) to contain downside and bring rebound. On the upside, break of 1.3455 will turn bias back to the upside for 1.3534 resistance.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. The first leg has completed at 1.2460. The second leg from 1.2460 is likely still in progress and could target 61.8% retracement of 1.4689 to 1.2460 at 1.3838. We'd look for reversal signal there to start the third leg. However, break of 1.2968 will argue that the third leg has already started and should at least bring a retest of 1.2460 low. Meanwhile, sustained trading above 1.3838 would pave the way to retest 1.4689 high.

Daily Pivots: (S1) 1.2429; (P) 1.2462; (R1) 1.2523; More...

With 1.2505 minor resistance intact, intraday bias in GBP/USD remains neutral first. On the upside, break of 1.2505 will suggest that pull back from 1.2614 has completed at 1.2365. And rise from 1.2108 is resuming. In such case, intraday bias will be turned back to the upside for 1.2614 resistance and above. Also, that would mean that the consolidative pattern from 1.1946 is extending with another rising leg. On the downside, break of 1.2365 will revive that case that consolidation from 1.1946 has completed and turn bias to the downside for 1.2108 support.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term reversal yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 1.0578; (P) 1.0604 (R1) 1.0630; More....

Intraday bias in EUR/USD remains neutral for consolidation above 1.0569 temporary low. Upside of recovery should be limited by 1.0688 resistance and bring fall resumption. As noted before, corrective rise from 1.0339 is likely finished after being rejected by 55 week EMA. And, the larger down trend is ready to resume. Below 1.0569 will turn bias to the downside for 1.0494 support first. Break will confirm this bearish case and send EUR/USD through 1.0339 to 100% projection of 1.1298 to 1.0339 from 1.0905 at 0.9946. On the upside, however, break of 1.0688 resistance will delay the bearish case and turn focus back to 1.0905 resistance instead.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate term reversal. this would also be supported by sustained trading above 55 week EMA.

Daily Pivots: (S1) 1.0054; (P) 1.0074; (R1) 1.0092; More.....

Intraday bias in USD/CHF remains neutral as the consolidation from 1.0107 continues. Outlook is unchanged that corrective fall from 1.0342 should have finished with three waves down to 0.9812. Hence, downside of retreat should be contained by 0.9980 support and bring rally resumption. Above 1.0107 will target 1.0169 resistance. Decisive break there will confirm this bullish case and target 1.0342 key resistance next. However, below 0.9980 will dampen this bullish case and turn bias back to the downside for 0.9812 low.

In the bigger picture, we're still maintain that firm break of 1.0342 key resistance is needed to confirm underlying bullish momentum in the cross. However, the corrective nature of the fall from 1.0342 to 0.9812 is starting to give the medium term outlook a bullish favor. Hence, in stead of looking for topping signal around 1.0342, we'd now pay closer attention to upside acceleration as USD/CHF approaches this level again.