Time is 05:10 GMT

Intraday Confluence Zones:

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EUR/USD: 1.3045 – 1.3095 {Bearish Bias}

Our preference: SHORT positions within 1.3045 – 1.3095 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 1.3095 on continuation pattern with well directed RSI.

Comment: A pullback move occurs on EUR/USD. Hourly stochastic is oversold. Watch the level of 1.3066 (50% Fibonacci).

AUD/USD: 1.0195 – 1.0240 {Bearish Bias}

Our preference: SHORT positions within 1.0195 – 1.0240 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 1.0240 on continuation pattern with well directed RSI.

Comment: A pullback occurs on AUD/USD, however the general bias remains bearish. Hourly stochastic is oversold.

GBP/USD: 1.6150 – 1.6185 {Neutral Bias}

Our preference: LONG positions within 1.6150 – 1.6185 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario: SHORT positions on break of 1.6150 on continuation pattern with well directed RSI.

Comment: GBP/USD is pushing higher. Hourly stochastic is oversold. 20 MA has crossed above 50 MA on the hourly chart.

EUR/JPY: 104.25 – 104.65 {Bearish Bias}

Our preference: SHORT positions within 104.25 – 104.65 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 104.65 on continuation pattern with well directed RSI.

Comment: EUR/JPY has pulled back to the confluence zone. Hourly stochastic is oversold.

Time is 04:55 GMT

Intraday Confluence Zones:

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EUR/USD: 1.3040 – 1.3090 {Bearish Bias}

Our preference: SHORT positions within 1.3040 – 1.3090 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 1.3090 on continuation pattern with well directed RSI.

Comment: EUR/USD currently is under heavy pressure. Hourly stochastic has crossed up, RSI is oversold.

AUD/USD: 1.0195 – 1.0250 {Bearish Bias}

Our preference: SHORT positions within 1.0195 – 1.0250 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 1.0250 on continuation pattern with well directed RSI.

Comment: AUD/USD is under heavy pressure. Hourly stochastic is almost overbought. Watch the falling trendline area.

GBP/USD: 1.6150 – 1.6185 {Bearish Bias}

Our preference: SHORT positions within 1.6150 – 1.6185 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 1.6185 on continuation pattern with well directed RSI.

Comment: GBP/USD currently is under heavy pressure, capped by a negative trendline. Hourly stochastic has crossed up. Watch the level of 1.6165 (50% Fibonacci).

EUR/JPY: 104.65 – 105.20 {Bearish Bias}

Our preference: SHORT positions within 104.65 – 105.20 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 105.20 on continuation pattern with well directed RSI.

Comment: EUR/JPY is under heavy pressure. Hourly RSI is oversold.

Time is 04:17 GMT

Intraday Confluence Zones:

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EUR/USD: 1.3150 – 1.3190 {Neutral Bias}

Our preference: SHORT positions within 1.3150 – 1.3190 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 1.3190 on continuation pattern with well directed RSI.

Comment: EUR/USD currently is in consolidation mode. Hourly stochastic is overbought.

AUD/USD: 1.0290 – 1.0335 {Bearish Bias}

Our preference: SHORT positions within 1.0290 – 1.0335 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 1.0335 on continuation pattern with well directed RSI.

Comment: AUD/USD remains under pressure. Hourly stochastic has crossed down.

GBP/USD: 1.6210 – 1.6245 {Bearish Bias}

Our preference: SHORT positions within 1.6210 – 1.6245 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 1.6245 on continuation pattern with well directed RSI.

Comment: GBP/USD is consolidating, however the general bias remains bearish. Hourly stochastic has crossed down. Watch the level of 1.6230 (50% Fibonacci).

EUR/JPY: 105.60 – 106.00 {Bearish Bias}

Our preference: SHORT positions within 105.60 – 106.00 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 106.00 on continuation pattern with well directed RSI.

Comment: Some whipsaw move on EUR/JPY yesterday. Hourly stochastic an RSI are mixed. Watch the level of 105.84 (50% Fibonacci).

Time is 04:50 GMT

Intraday Confluence Zones:

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EUR/USD: 1.3165 – 1.3205 {Bearish Bias}

Our preference: SHORT positions within 1.3165 – 1.3205 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 1.3205 on continuation pattern with well directed RSI.

Comment: EUR/USD currently is under heavy pressure. Hourly stochastic has crossed up. Watch the level of 1.3183 (50% Fibonacci).

AUD/USD: 1.0340 – 1.0380 {Bearish Bias}

Our preference: SHORT positions within 1.0340 – 1.0380 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 1.0380 on continuation pattern with well directed RSI.

Comment: AUD/USD remains under pressure. Hourly stochastic has crossed up. Watch the level of 1.0358 (50% Fibonacci).

GBP/USD: 1.6210 – 1.6245 {Bearish Bias}

Our preference: SHORT positions within 1.6210 – 1.6245 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 1.6245 on continuation pattern with well directed RSI.

Comment: GBP/USD currently is under pressure. Hourly stochastic has crossed up. Watch the level of 1.6230 (50% Fibonacci).

EUR/JPY: 105.60 – 106.00 {Bearish Bias}

Our preference: SHORT positions within 105.60 – 106.00 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 106.00 on continuation pattern with well directed RSI.

Comment: EUR/JPY is back under pressure. Hourly stochastic an RSI are mixed. Watch the level of 105.84 (50% Fibonacci).

Time is 04:18 GMT

Intraday Confluence Zones:

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EUR/USD: 1.3200 – 1.3240 {Neutral Bias}

Our preference: LONG positions within 1.3200 – 1.3240 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario: SHORT positions on break of 1.3200 on continuation pattern with well directed RSI.

Comment: EUR/USD remains supported by 1.3200 despite the heavy pressure. Hourly stochastic is crossing up.

AUD/USD: 1.0350 – 1.0395 {Bearish Bias}

Our preference: SHORT positions within 1.0350 – 1.0395 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 1.0395 on continuation pattern with well directed RSI.

Comment: AUD/USD remains under pressure. Hourly stochastic is overbought. Watch the level of 1.0368 (50% Fibonacci).

GBP/USD: 1.6205 – 1.6250 {Neutral Bias}

Our preference: LONG positions within 1.6205 – 1.6250 bullish pattern/candlestick confirmation with divergence.

Alternative scenario: SHORT positions on break of 1.6205 on continuation pattern with well directed RSI.

Comment: GBP/USD remains consolidating. Hourly stochastic and RSI are mixed.

EUR/JPY: 106.15 – 106.55 {Bearish Bias}

Our preference: SHORT positions within 106.15 – 106.55 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 106.55 on continuation pattern with well directed RSI.

Comment: EUR/JPY has pullled up. Hourly stochastic an RSI are mixed. Note that 20 MA has crossed above 50 MA on hourly chart.

Time is 05:05 GMT

Intraday Confluence Zones:

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EUR/USD: 1.3200 – 1.3235 {Bullish Bias}

Our preference: LONG positions within 1.3200 – 1.3235 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario: SHORT positions on break of 1.3200 on continuation pattern with well directed RSI.

Comment: EUR/USD currently is consolidating. Hourly stochastic is overbought.

AUD/USD: 1.0395 – 1.0435 {Bearish Bias}

Our preference: SHORT positions within 1.0395 – 1.0435 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 1.0435 on continuation pattern with well directed RSI.

Comment: AUD/USD has broken its rising trendline, currently is under heavy pressure. Hourly stochastic and RSI are oversold. Watch for a break of 1.0331.

GBP/USD: 1.6205 – 1.6250 {Neutral Bias}

Our preference: LONG positions within 1.6205 – 1.6250 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario: SHORT positions on break of 1.6205 on continuation pattern with well directed RSI.

Comment: GBP/USD is consolidating. Hourly stochastic is oversold. Note the dark cloud cover pattern on the daily chart.

EUR/JPY: 105.95 – 106.45 {Bearish Bias}

Our preference: SHORT positions within 105.95 – 106.45 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 106.45 on continuation pattern with well directed RSI.

Comment: EUR/JPY remains under pressure. Hourly stochastic an RSI are mixed.

Time is 05:30 GMT

Intraday Confluence Zones:

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EUR/USD: 1.3200 – 1.3235 {Bullish Bias}

Our preference: LONG positions within 1.3200 – 1.3235 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario #1: LONG positions on break of 1.3270 on bullish flag pattern confirmation.

Alternative scenario #2: SHORT positions on break of 1.3200 on continuation pattern with well directed RSI.

Comment: EUR/USD is potential to form a bullish flag pattern on hourly chart. 20 MA is about to cross 50 MA on hourly chart. Hourly stochastic is overbought.

AUD/USD: 1.0395 – 1.0435 {Bullish Bias}

Our preference: LONG positions within 1.0395 – 1.0435 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario: SHORT positions on break of 1.0395 on continuation pattern with well directed RSI.

Comment: AUD/USD remains supported by a rising trendline. Hourly stochastic has crossed up. Watch the trendline area and the level of 1.0413 (50% Fibonacci).

GBP/USD: 1.6185 – 1.6235 {Bullish Bias}

Our preference: LONG positions within 1.6185 – 1.6235 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario: SHORT positions on break of 1.6185 on continuation pattern with well directed RSI.

Comment: GBP/USD currently is an upward trajectory. Hourly stochastic and RSI are overbought. Watch the level of 1.6221 (50% Fibonacci).

EUR/JPY: 106.40 – 106.95 {Bearish Bias}

Our preference: SHORT positions within 106.40 – 106.95 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 106.95 on continuation pattern with well directed RSI.

Comment: EUR/JPY currently is under pressure. Hourly stochastic has crossed up. Watch the level of 106.76 (50% Fibonacci).

Time is 05:05 GMT

Intraday Confluence Zones:

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EUR/USD: 1.3170 – 1.3205 {Neutral Bias}

Our preference: LONG positions within 1.3170 – 1.3205 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario: SHORT positions on break of 1.3170 on continuation pattern with well directed RSI.

Comment: EUR/USD has broken its rising trendline. 20 MA is about to cross 50 MA on hourly chart.

AUD/USD: 1.0320 – 1.0360 {Bullish Bias}

Our preference: LONG positions within 1.0320 – 1.0360 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario: SHORT positions on break of 1.0320 on continuation pattern with well directed RSI.

Comment: AUD/USD remasin in an upward trajectory. Hourly stochastic is approaching overbought area.

GBP/USD: 1.6140 – 1.6175 {Bullish Bias}

Our preference: LONG positions within 1.6140 – 1.6175 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario: SHORT positions on break of 1.6140 on continuation pattern with well directed RSI.

Comment: GBP/USD currently is in consolidation mode. Hourly stochastic has crossed down.

EUR/JPY: 106.80 – 107.15 {Neutral Bias}

Our preference: LONG positions within 106.80 – 107.15 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario: SHORT positions on break of 106.80 on continuation pattern with well directed RSI.

Comment: EUR/JPY rebounds. Watch the level of 106.97 (50% Fibonacci).

Time is 05:50 GMT

Intraday Confluence Zones:

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EUR/USD: 1.3170 – 1.3205 {Bullish Bias}

Our preference: LONG positions within 1.3170 – 1.3205 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario: SHORT positions on break of 1.3170 on continuation pattern with well directed RSI.

Comment: EUR/USD is remains supported by a rising trendline. Hourly stochastic and RSI are mixed.

AUD/USD: 1.0310 – 1.0350 {Bullish Bias}

Our preference: SHORT positions within 1.0310 – 1.0350 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions on break of 1.0350 on continuation pattern with well directed RSI.

Comment: AUD/USD currently is moving in an upward tracjetory. Hourly stochastic is overbought.

GBP/USD: 1.6125 – 1.6160 {Bullish Bias}

Our preference: LONG positions within 1.6125 – 1.6160 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario #1: LONG position on confirmed break of the resistance at 1.6182.

Alternative scenario #2: SHORT positions on break of 1.6110 on continuation pattern with well directed RSI.

Comment: GBP/USD rebounds. Potential bullish falling wedge is seen on hourly chart. Hourly stochastic has crossed up.

EUR/JPY: 106.80 – 107.15 {Bullish Bias}

Our preference: LONG positions within 106.80 – 107.15 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario: SHORT positions on break of 106.80 on continuation pattern with well directed RSI.

Comment: EUR/JPY currently is in consolidating mode. Hourly stochastic has crossed up. Watch the level of 106.98 (50% Fibonacci).