Daily Technical Analysis – 12 December, 2017

Our preference: long positions above 1.1760 with targets at 1.1820 & 1.1845 in extension.

Alternative scenario: below 1.1760 look for further downside with 1.1745 & 1.1730 as targets.

Comment: the RSI shows upside momentum.

Our preference: short positions below 0.9955 with targets at 0.9885 & 0.9855 in extension.

Alternative scenario: above 0.9955 look for further upside with 0.9980 & 1.0000 as targets.

Comment: the RSI shows downside momentum.

Our preference: short positions below 113.70 with targets at 113.10 & 112.80 in extension.

Alternative scenario: above 113.70 look for further upside with 114.00 & 114.20 as targets.

Comment: the RSI shows downside momentum.

Our preference: short positions below 1.3435 with targets at 1.3350 & 1.3320 in extension.

Alternative scenario: above 1.3435 look for further upside with 1.3485 & 1.3520 as targets.

Comment: the RSI shows downside momentum.

Our preference: long positions above 0.7500 with targets at 0.7555 & 0.7575 in extension.

Alternative scenario: below 0.7500 look for further downside with 0.7480 & 0.7460 as targets.

Comment: the RSI is mixed to bullish.

Our preference: long positions above 1.2810 with targets at 1.2880 & 1.2925 in extension.

Alternative scenario: below 1.2810 look for further downside with 1.2775 & 1.2725 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Our preference: short positions below 1252.50 with targets at 1243.50 & 1240.00 in extension.

Alternative scenario: above 1252.50 look for further upside with 1256.00 & 1262.50 as targets.

Comment: as long as the resistance at 1252.50 is not surpassed, the risk of the break below 1243.50 remains high.

Our preference: long positions above 56.75 with targets at 57.50 & 57.80 in extension.

Alternative scenario: below 56.75 look for further downside with 56.55 & 56.30 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.