Daily Technical Analysis – 1 Mar, 2017

Our preference: short positions below 1.0570 with targets at 1.0520 & 1.0490 in extension.

Alternative scenario: above 1.0570 look for further upside with 1.0590 & 1.0610 as targets.

Comment: The pair has broken below a rising trend line.

Our preference: short positions below 1.2405 with targets at 1.2260 & 1.2230 in extension.

Alternative scenario: above 1.2405 look for further upside with 1.2445 & 1.2475 as targets.

Comment: the RSI shows downside momentum.

Our preference: long positions above 1.0070 with targets at 1.0115 & 1.0135 in extension.

Alternative scenario: below 1.0070 look for further downside with 1.0050 & 1.0035 as targets.

Comment: the RSI shows upside momentum.

Our preference: long positions above 112.85 with targets at 114.05 & 114.35 in extension.

Alternative scenario: below 112.85 look for further downside with 112.40 & 111.90 as targets.

Comment: the RSI advocates for further upside.