Our preference: short positions below 1.0645 with targets at 1.0595 & 1.0570 in extension.
Alternative scenario: above 1.0645 look for further upside with 1.0665 & 1.0690 as targets.
Comment: the RSI lacks upward momentum.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
GBP/USD Intraday: the upside prevails.
Pivot: 1.2165
Our preference: long positions above 1.2165 with targets at 1.2235 & 1.2260 in extension.
Alternative scenario: below 1.2165 look for further downside with 1.2135 & 1.2105 as targets.
Comment: the RSI lacks downward momentum.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
USD/CHF Intraday: the upside prevails.
Pivot: 1.0070
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 1.0055 & 1.0035 as targets.
Comment: the RSI is mixed to bullish.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
USD/JPY Intraday: under pressure.
Pivot: 114.90
Our preference: short positions below 114.90 with targets at 114.45 & 114.25 in extension.
Alternative scenario: above 114.90 look for further upside with 115.20 & 115.50 as targets.
Comment: The pair has validated a bearish flag.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
