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Daily Pivots: (S1) 1.1551; (P) 1.1578; (R1) 1.1610; More…

Intraday bias in EUR/USD stays neutral at this point. Further decline remains mildly in favor below 55 D EMA (now at 1.1620). Break of 1.1467 support will resume the decline from 1.1917 to 1.1390 support next. However, sustained trading above 55 D EMA will argue that fall from 1.1971 has completed as a correction only, and bring further rise to 1.1727 resistance next.

In the bigger picture, considering bearish divergence condition in D MACD, a medium term top is likely in place at 1.1917, just ahead of 1.2 key psychological level. As long as 55 W EMA (now at 1.1306) holds, the up trend from 0.9534 (2022 low) is still expected to continue. Decisive break of 1.2000 will carry larger bullish implications. However, sustained trading below 55 W EMA will argue that rise from 0.9534 has completed as a three wave corrective bounce, and keep long term outlook outlook bearish.

Daily Pivots: (S1) 153.72; (P) 154.11; (R1) 154.54; More...

Intraday bias in USD/JPY is back on the upside with break of 154.47. Rise from 139.87 is resuming and should target 100% projection of 146.58 to 153.26 from 149.37 at 156.05. For now, near term outlook will stay bullish as long as 152.81 support holds, in case of retreat.

In the bigger picture, current development suggests that corrective pattern from 161.94 (2024 high) has completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94 high. On the downside, break of 149.37 support will dampen this bullish view and extend the corrective pattern with another falling leg.

Daily Pivots: (S1) 1.3116; (P) 1.3150; (R1) 1.3184; More...

Range trading continues in GBP/USD and intraday bias stays neutral. More consolidations could be seen but further decline is expected as long as 1.3247 support turned resistance holds. Break of 1.3008 will target 138.2% projection of 1.3787 to 1.3140 from 1.3725 at 1.2831. Nevertheless, firm break of 1.3247 will suggest that fall from 1.3787 has completed as a corrective move already.

In the bigger picture, the break of 55 W EMA (now at 1.3185) is taken as the first sign that corrective rise from 1.0351 (2022 low) has completed. Decisive break of trend line support (now at 1.2780) will solidify this case and target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 next. Meanwhile, in case of another rise, strong resistance should emerge below 1.4248 (2021 high) to cap upside to preserve the long term down trend.

Daily Pivots: (S1) 0.7972; (P) 0.8020; (R1) 0.8053; More…

Intraday bias in USD/CHF remains on the downside for the moment. Corrective rebound from 0.7828 should have completed with three waves up to 0.8123. Deeper fall should be seen to 0.7872 support. Firm break there will argue that larger down trend is ready to resume through 0.7828 low. For now, risk will stay on the downside as long as 0.8123 resistance holds, in case of recovery.

In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress. Next target is 100% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.7382. In any case, outlook will stay bearish as long as 0.8332 support turned resistance holds (2023 low).

Daily Pivots: (S1) 0.6515; (P) 0.6527; (R1) 0.6538; More...

Intraday bias in AUD/USD remains neutral for the moment. On the downside, break of 0.6457 will target 0.6413 cluster (38.2% retracement of 0.5913 to 0.6706 at 0.6403). Decisive break there will carry larger bearish implications. On the upside, break of 0.6616 will bring retest of 0.6706 high instead.

In the bigger picture, there is no clear sign that down trend from 0.8006 (2021 high) has completed. Rebound from 0.5913 is seen as a corrective move. Outlook will remain bearish as long as 38.2% retracement of 0.8006 to 0.5913 at 0.6713 holds. Break of 0.6413 support will suggest rejection by 0.6713 and solidify this bearish case. Nevertheless, considering bullish convergence condition in W MACD, sustained break of 0.6713 will be a strong sign of bullish trend reversal, and pave the way to 0.6941 structural resistance for confirmation.

Daily Pivots: (S1) 1.4001; (P) 1.4021; (R1) 1.4040; More...

In the bigger picture, price actions from 1.4791 medium term top is likely just unfolding as a correction to up trend from 1.2005 (2021 low), with rise from 1.3538 as the second leg. A third leg should follow before up trend resumption. That is, range trading is set to extend for the medium term. For now, this will remain the favored case as long as 1.3886 support holds. However, firm break of 1.3886 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 0.9252; (P) 0.9287; (R1) 0.9309; More....

Intraday bias in EUR/CHF remains neutral at this point. On the downside, break of 0.9257 support will indicate that rebound from 0.9208 has completed as a corrective move. Deeper fall should be seen to retest 0.9204/8 support zone. Decisive break there will confirm larger down trend resumption. On the upside, break of 0.9325 will resume the rebound from 0.9208.

In the bigger picture, outlook remains bearish with EUR/CHF staying well inside long term falling channel after multiple rejection by 55 W EMA (now at 0.9383). Firm break of 0.9204 will resume the whole down trend from 1.2004 (2018 high). Next target is 61.8% projection of 1.1149 to 0.9407 from 0.9928 at 0.8851. However, break of 0.9452 resistance will now be the first sign of medium term bottoming.

Daily Pivots: (S1) 0.8779; (P) 0.8796; (R1) 0.8824; More…

Range trading continues in EUR/GBP and intraday bias stays neutral. Further rally is expected as long as 0.8761 support holds. On the upside, break of 0.8828 will resume the whole rise from 0.8221 and target 0.8867 fibonacci level. Firm break there will carry larger bullish implications. However, considering bearish divergence condition in 4H MACD, decisive break of 0.8761 will confirm short term topping, and bring deeper fall to 55 D EMA (now at 0.8717).

In the bigger picture, rise from 0.8221 medium term bottom is still seen as a corrective move. Upside should be limited by 61.8% retracement of 0.9267 to 0.8221 at 0.8867. Firm break of 0.8654 support will be the first sign that this corrective bounce has completed. However, decisive break of 0.8867 will suggest that EUR/GBP is already reversing whole decline from 0.9267 (2022 high).

Daily Pivots: (S1) 1.7687; (P) 1.7736; (R1) 1.7793; More...

Intraday bias in EUR/AUD stays neutral for the moment, and outlook is unchanged. On the downside, break of 1.7561 support will revive the bearish case that corrective pattern from 1.8554 is in the third leg, and target 1.7245 support. On the upside, though, above 1.7895 will resume the rebound from 1.7561 to 1.8160 resistance next.

In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern. Sustained break of 55 W EMA (now at 1.7424) will suggest that it's correcting the whole rally from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922. Nevertheless, strong rebound form 55 W EMA will likely bring resumption of the up trend sooner.

Daily Pivots: (S1) 202.21; (P) 202.72; (R1) 203.63; More...

No change in GBP/JPY's outlook and intraday bias remains neutral. On the upside, break of 204.22 resistance should confirm that correction from 205.30 has completed with three waves at 199.04. Further rise should be seen through 205.30 to resume the larger rally from 184.53. On the downside, below 201.36 minor support will turn bias to the downside to 199.04 and below to extend the correction.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a corrective pattern which might have completed at 184.35. Firm break of 208.09 high will resume the up trend from 123.94 (2020 low). Next target is 61.8% projection of 148.93 to 208.09 from 184.35 at 220.90. However, decisive break of 197.47 support will dampen this view and extend the corrective pattern with another fall.