Sample Category Title

Daily Pivots: (S1) 1.6337; (P) 1.6418; (R1) 1.6482; More...

EUR/AUD is staying in range below 1.6552 and intraday bias remains neutral first. With 1.6247 support intact, further rally is expected. As noted before, correction from 1.6785 should have completed with three waves down to 1.5846. Above 1.6552 will target a retest on 1.6785 high next. Nevertheless, on the downside, firm break of 1.6247 will dampen this view and turn bias to the downside for 1.5846 support.

In the bigger picture, with 38.2% retracement of 1.4281 to 1.6785 at 1.5828 intact, rally from 1.4281 is still in progress. Firm break of 1.6785 will confirm rise resumption. Next target is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. On the other hand, rejection by 1.6785 will extend the corrective pattern with another fall leg. But outlook will stay bullish as long as 1.5828 holds.

Daily Pivots: (S1) 179.09; (P) 180.32; (R1) 181.14; More...

GBP/JPY recovered after falling to 179.45 and intraday bias is turned neutral first. Further fall remains in favor, and break of 179.45 will target 55 D EMA (now at 176.65). On the upside, above 182.00 minor resistance will turn bias to the upside for retesting 183.99 high instead.

In the bigger picture, as long as 172.11 resistance turned support holds, uptrend from 123.94 (2020 low) is expected to continue. On resumption, next target is 195.86 (2015 high). Nevertheless, firm break of 172.11 will argue that larger correction is already underway.

Daily Pivots: (S1) 153.62; (P) 154.08; (R1) 154.67; More....

EUR/JPY recovered after falling to 153.32 and intraday bias is turned neutral first. Further decline is in favor as long as 155.66 minor resistance holds. Below 153.32 will target 55 D EMA (now at 152.36) and below. nevertheless, above 155.66 will turn bias back to the upside for retesting 157.99 high instead.

In the bigger picture, as long as 151.60 resistance turned support holds, rise from 114.42 (2020 low) is in progress. On resumption, next target is 100% projection of 124.37 to 148.38 from 138.81 at 162.82. Nevertheless, sustained break of 151.60 will argue that larger correction is already underway.

EURUSD is holding near new 2023 high and the highest since Apr 2022 on Thursday morning, following 1.1% advance on Wednesday (the biggest daily gains since Feb 1).

Weaker than expected US inflation in June added pressure on dollar on growing expectations that Fed’s tightening cycle may end soon and lifted the single currency.

Bulls neared barrier at 1.1182 (200WMA) and eye next target at 1.1223 (Fibo 61.8% retracement of 1.2266/0.9535 downtrend) but may take a breather for consolidation before resuming higher, as daily studies are overbought.

Former top (1.1095) now marks initial support, followed by 5DMA (1.1050) which should contain dips and guard lower pivot at 1.10 (psychological/20DMA).

Res: 1.1182; 1.1204; 1.1223; 1.1271.
Sup: 1.1150; 1.1095; 1.1050; 1.1000.

EURUSD skyrocketed to sixteen-month highs in the wake of the US CPI data on Wednesday, experiencing one of its best daily performances this year.

The pair inched up to a new high of 1.1147 early on Thursday, raising speculation that the bullish wave might have more room for improvement. That said, some caution might be necessary as the price is trading around the tentative resistance line from February at 1.1145 and slightly below the 1.1185-1.1220 constraining zone, which had been limiting both upside and downside movements during November 2021-March 2022. Note that the RSI and the stochastic oscillator have entered the overbought territory and are testing former resistance levels.

In the event the bulls pierce through the 1.1185-1.1220 wall, the next obstacle could develop around the 1.1365 barrier taken from the November 2021-February 2022 trading range. Another victory there could see an extension towards the January-February 2022 highs registered around 1.1480.

Should sellers press the price back below the 1.1100 psychological mark, the focus will turn to the 1.1025-1.1000 area. A step lower could then find immediate support around the 20-day exponential moving average (EMA), which is approaching the 1.0970 barrier. If downside forces further strengthen from there, the door will open for the 50-day EMA at 1.0890.

Summing up, EURUSD resumed a bullish outlook in the big picture following Wednesday’s exciting rally. The next challenge could occur within the 1.1145-1.1220 region. 

Daily Pivots: (S1) 0.6714; (P) 0.6755; (R1) 0.6829; More...

AUD/USD's rebound from 0.6594 resumed after brief retreat. Intraday bias is back on the upside for 0.6898 resistance next. Firm break there will firstly confirm resumption of rise from 0.6457. Secondly, that should also confirm completion of the fall from 0.7156 at 0.6457. Further rally should then be seen to 0.7156 next. On the downside, however, below 0.6783 minor support will turn intraday bias neutral again.

In the bigger picture, price actions from 0.7156 are seen as a correction to the rebound from 0.6169 only, rather than part of larger down trend from 0.8006 (2021 high). Break of 0.6457 could cannot be ruled out but downside should be contained above 0.6169. Meanwhile, break of 0.6898 resistance will argue that rise from 0.6169 is ready to resume through 0.7156.

Daily Pivots: (S1) 1.3141; (P) 1.3190; (R1) 1.3237; More....

Intraday bias in USD/CAD remains on the downside for retesting 1.3115 low. Firm break there will resume larger down trend, and target 61.8% projection of 1.3653 to 1.3115 from 1.3386 at 1.3054, and then 100% projection at 1.2848. For now, outlook will remain bearish as long as 1.3386 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.3976 are viewed as a correction to up trend from 1.2005 (2021 low) only. Hence, the up trend is in favor to resume through 1.3976 at a later stage. Nevertheless, another fall below 1.3115 will extending the decline from 1.3976 to 61.8% retracement of 1.2005 to 1.3976 at 1.2758, and raise the chance of bearish trend reversal.

Daily Pivots: (S1) 1.1044; (P) 1.1092; (R1) 1.1180; More...

EUR/USD's rally continues today and intraday bias stays on the upside at this point. Current up trend should target 1.1273 fibonacci level next. On the downside, below 1.1012 minor support will turn intraday bias neutral and bring consolidations first, before staging another rise.

In the bigger picture, as long as 1.0515 support holds, rise from 0.9534 (2022 low) would still extend higher. Sustained break of 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 will solidify the case of bullish trend reversal and target 1.2348 resistance next (2021 high).

Daily Pivots: (S1) 1.2928; (P) 1.2964; (R1) 1.3024; More...

GBP/USD's rally continues today and intraday bias stays on the upside. Next target is 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095. On the downside, below 1.2902 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 139.86; (P) 140.66; (R1) 141.16; More...

Intraday bias in USD/JPY remains on the downside for the moment as fall from 145.06 is in progress. Decisive break of 137.90 resistance turned support will confirm the larger bearish case, and target 127.20 and below. On the upside, above 139.74 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, current downside acceleration, as seen in daily MACD, argues that fall from 145.06 is already the third leg of the corrective pattern from 151.93 (2022 high). Sustained break of 137.90 resistance turned support should confirm this case and target 127.20 (2023 low) and below. For now, this will remain the favored case as long as 145.06 resistance holds.