CAD Pivot: 1.0575. O' v( U- z3 A2 s( ]0 [! M
Our preference: Long positions above 1.0575 with targets @ 1.075 & 1.0795 in extension.2 v* S8 i* i' }& S4 @
Alternative scenario: Below 1.0575 look for further downside with 1.0542 & 1.0505 as targets. E$ ~; M' i _; Q
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.7 V0 g' w: h1 q. `$ x+ P
AUD Pivot: 0.914 7 c7 ]5 k- s+ i) J0 JOur preference: Short positions below 0.914 with targets @ 0.895 & 0.8915 in extension. ( R6 l" f/ s) Z& ^% CAlternative scenario: Above 0.914 look for further upside with 0.921 & 0.925 as targets.9 Z D i" p# y0 }9 n G
Comment: the RSI has just banged against its neutrality area at 50% and is reversing down.: Y3 s* i% f! o( |
& c( ] [" V5 |2 K% fEUR Pivot: 1.51 C* k2 b+ C* r3 `* x
Our preference: Short positions below 1.5 with targets @ 1.487 & 1.4825 in extension.$ } H8 j ~/ W. h* b9 W
Alternative scenario: Above 1.5 look for further upside with 1.5055 & 1.51 as targets. T2 V& m" t# @- [3 J
Comment: as long as 1.5 is resistance, expect a return to 1.487. ; x5 w* N- {( C' H- m% [6 h. p& Q& J4 Q8 Z5 i
GBP Pivot: 1.65359 `% B* Z. w& D
Our preference: Short positions below 1.6535 with targets @ 1.6375 & 1.6325 in extension. ( ]9 H% p2 c o- c# X6 UAlternative scenario: Above 1.6535 look for further upside with 1.659 & 1.665 as targets. ( w, J# y! n1 m- m. `Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.1 X( `( C- {7 f( W5 |" q
EUR/JPY Pivot: 130.25) W W* [/ D4 N! K
Our preference: Short positions below 130.25 with targets @ 128.65 & 127.65 in extension. R6 R9 h; k4 l) E6 y7 ^
Alternative scenario: Above 130.25 look for further upside with 130.75 & 131.25 as targets.1 }6 y8 _6 O. A( B; [" G$ J5 r& ^
Comment: the RSI has banged against a major resistance around 70% and is reversing down. $ u# f% g3 R/ I$ z. o6 @# ]2 QJPY Pivot: 87.05 `7 L" x0 S: U
Our preference: Short positions below 87.05 with targets @ 86.3 & 85.75 in extension. 7 O6 P3 P$ Z( O9 vAlternative scenario: Above 87.05 look for further upside with 87.5 & 88 as targets.6 y+ I1 Y6 M/ F" Q- `5 S6 g
Comment: the RSI calls for a drop.