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Daily Pivots: (S1) 177.27; (P) 177.92; (R1) 178.38; More...

Intraday bias in EUR/JPY remains neutral and more consolidations could be seen below 178.80. Downside of pullback should be contained above 174.80 support. On the upside, break of 178.80 will extend the up trend to 61.8% projection of 161.06 to 173.87 from 172.24 at 180.15 next. However, considering bearish divergence condition in 4H MACD, firm break of 176.60 will bring deeper correction to 174.80 support instead.

In the bigger picture, up trend from 114.42 (2020 low) is in progress and should target 61.8% projection of 124.37 to 175.41 from 154.77 at 186.31. Firm break of 172.24 support will suggests that it has turned into consolidations again. But still, outlook will continue to stay bullish as long as 55 W EMA (now at 167.87) holds, even in case of deep pullback.

Daily Pivots: (S1) 0.8785; (P) 0.8799; (R1) 0.8809; More…

Intraday bias in EUR/GBP remains neutral and more consolidations could be seen below 0.8817. Further rally is expected as long as 0.8750 resistance turned above holds. Above 0.8817 will target 0.8867 fibonacci level. Firm break there will carry larger bullish implications. Nevertheless, sustained break of 0.8750 will turn bias back to the downside for 0.8654 support instead.

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) 1.7584; (P) 1.7641; (R1) 1.7685; More...

Intraday bias in EUR/AUD remains neutral first. On the downside, firm break of 1.7569 support will solidify the case that corrective pattern from 1.8554 is already in the third leg. Deeper fall should then be seen to 1.7254 support next. For now, risk will remain on the downside as long as 1.7813 minor resistance holds.

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 1.7406) 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) 0.9264; (P) 0.9278; (R1) 0.9297; More....

Intraday bias in EUR/CHF remains neutral for the moment. Price action from 0.9208 is seen as a corrective pattern, and upside should be limited by 0.9311 support turned resistance. On the downside, below 0.9236 minor support will bring retest of 0.9204/8 support zone. Firm break there will resume larger down trend to 61.8% projection of 0.9660 to 0.9218 from 0.9452 at 0.9179. However, sustained break of 0.9311 will bring stronger rebound back to 0.9371 resistance instead.

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 0.9386). 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. Break of 0.9452 resistance is needed to be the first sign of medium term bottoming.

Daily Pivots: (S1) 1.1513; (P) 1.1545; (R1) 1.1569; More…

Intraday bias in EUR/USD remains on the downside at this point. Current fall from 1.1917 should target 1.1390 support. Break there will extend the decline to 38.2% retracement of 1.0176 to 1.1917 at 1.1252. On the upside, above 1.1576 minor resistance will turn bias neutral and bring consolidations first, before staging another fall.

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 outlook bearish.

Daily Pivots: (S1) 153.64; (P) 154.03; (R1) 154.39; More...

Intraday bias in USD/JPY stays on the upside for 100% projection of 146.58 to 153.26 from 149.37 at 156.05. Firm break there will extend the rally from 139.87 to 158.86 resistance next. On the downside, below 153.24 resistance turned support will turn intraday bias neutral first. But outlook will stay bullish as long as 151.52 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 145.47 support will dampen this bullish view and extend the corrective pattern with another falling leg.

Daily Pivots: (S1) 1.3106; (P) 1.3136; (R1) 1.3174; More...

Intraday bias in GBP/USD remains on the downside for the moment. Sustained trading below 1.3140 support should confirm completion of double top pattern (1.3787, 1.3725). Further decline should then be seen to 61.8% retracement of 1.2099 to 1.3787 at 1.2744 next. On the upside break of 1.3247 support turned resistance is needed to indicate short term bottoming. Otherwise, risk will stay on the downside in case of recovery.

In the bigger picture, rise from 1.0351 (2022 low) is still seen as a corrective move. Sustained trading below 55 W EMA (now at 1.3185) will argue that a medium term top has already formed and bring deeper fall back to 1.2099. Firm break there will confirm bearish reversal. In case of another rise, strong resistance should emerge below 1.4248 (2021 high) to cap upside.

Daily Pivots: (S1) 0.8019; (P) 0.8037; (R1) 0.8064; More…

Intraday bias in USD/CHF stays on the upside at this point. Corrective pattern from 0.7828 is still extending. Break of 0.8075 will target 100% projection of 0.7828 to 0.8075 from 0.7872 at 0.8119. On the downside, below 0.8008 minor support will turn intraday bias neutral.

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) 1.3937; (P) 1.3975; (R1) 1.4024; More...

Intraday in USD/CAD remains on the upside for retesting 1.4078 resistance. Firm break there will resume the whole rally from 1.3538. Next target is 61.8% projection of 1.3725 to 1.4078 from 1.3886 at 1.4104, and then 100% projection at 1.4239. On the downside, below 1.3976 minor support will turn bias neutral again first. But risk will remain on the upside as long as 1.3887 support holds, in case of retreat.

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). Based on current momentum, rise from 1.3538 is the second leg, and 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 1.3725 support holds. However, firm break of 1.3725 will revive the case that fall from 1.4791 is indeed a larger scale correction.

Daily Pivots: (S1) 0.6532; (P) 0.6546; (R1) 0.6559; More...

AUD/USD recovers ahead of 0.6524 resistance turned support but stays well below 0.6616. Intraday bias remains neutral for the moment. On the upside, break of 0.6616 will resume the rise from 0.6439 to retest 0.6706 high. However, break of 0.6524 will turn bias to the downside for 0.6439 and possibly below, to extend the corrective pattern from 0.6706 with another falling leg.

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. 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.