Daily Technical Analysis – 12 Jan, 2017

Our preference: long positions above 1.0590 with targets at 1.0695 & 1.0730 in extension.

Alternative scenario: below 1.0590 look for further downside with 1.0570 & 1.0540 as targets.

Comment: the RSI shows upside momentum.

Our preference: long positions above 1.2200 with targets at 1.2350 & 1.2400 in extension.

Alternative scenario: below 1.2200 look for further downside with 1.2170 & 1.2130 as targets.

Comment: the RSI shows upside momentum.

Our preference: short positions below 1.0130 with targets at 1.0040 & 1.0000 in extension.

Alternative scenario: above 1.0130 look for further upside with 1.0155 & 1.0180 as targets.

Comment: the RSI is bearish and calls for further downside.

Our preference: short positions below 115.20 with targets at 113.65 & 113.10 in extension.

Alternative scenario: above 115.20 look for further upside with 115.65 & 116.00 as targets.

Comment: the RSI shows downside momentum.