Daily Technical Analysis – 2 Feb, 2017

Our preference: long positions above 1.0760 with targets at 1.0835 & 1.0850 in extension.

Alternative scenario: below 1.0760 look for further downside with 1.0735 & 1.0710 as targets.

Comment: the RSI is bullish and calls for further upside.

Our preference: short positions below 1.2655 with targets at 1.2540 & 1.2515 in extension.

Alternative scenario: above 1.2655 look for further upside with 1.2705 & 1.2730 as targets.

Comment: the RSI shows downside momentum.

Our preference: short positions below 0.9935 with targets at 0.9860 & 0.9830 in extension.

Alternative scenario: above 0.9935 look for further upside with 0.9955 & 0.9980 as targets.

Comment: the RSI shows downside momentum.

Our preference: short positions below 112.95 with targets at 112.05 & 111.60 in extension.

Alternative scenario: above 112.95 look for further upside with 113.55 & 113.95 as targets.

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