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GBP/USD’s break of 1.3265 resistance turned support last week confirmed short term topping at 1.3433. Initial bias stays on the downside this week for 1.3000 cluster support (38.2% retracement of 1.2298 to 1.3433 at 1.2999). Strong support should be seen there to bring rebound. On the upside, above 1.3174 minor resistance will turn intraday bias […]

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08/03/2024

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6449; (P) 1.6530; (R1) 1.6619; More… Intraday bias in EUR/AUD remains on the downside at this point. Decisive break of 1.6450 support will argue that whole rebound from 1.6127 has completed with three waves up to 1.6742, and turn near term outlook bearish. On the upside, above 1.6606 minor resistance will turn […]
07/03/2024

EUR/JPY Daily Outlook

Daily Pivots: (S1) 162.38; (P) 162.67; (R1) 163.14; More… Intraday bias in EUR/JPY is back on the downside with break of 161.67 support. Price actions from 163.70 could be a correction to the rally from 153.15, or reversing the whole move. In either case, deeper fall would be seen to 38.2% retracement of 153.15 to […]
01/05/2024

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8527; (P) 0.8541; (R1) 0.8553; More… Intraday bias in EUR/GBP is turned neutral with current recovery. Some consolidations would be seen above 0.8529 temporary low. But further decline is expected as long as 0.8582 resistance holds. Below 0.8529 will target 0.8491/7 support zone. In the bigger picture, outlook remains bearish as EUR/GBP […]