Daily Technical Analysis – 2 November, 2017

Our preference: long positions above 1.1625 with targets at 1.1670 & 1.1690 in extension.

Alternative scenario: below 1.1625 look for further downside with 1.1600 & 1.1570 as targets.

Comment: the break above 1.1625 is a positive signal that has opened a path to 1.1670.

Our preference: short positions below 1.0035 with targets at 0.9965 & 0.9935 in extension.

Alternative scenario: above 1.0035 look for further upside with 1.0070 & 1.0095 as targets.

Comment: the RSI lacks upward momentum.

Our preference: long positions above 113.75 with targets at 114.30 & 114.75 in extension.

Alternative scenario: below 113.75 look for further downside with 113.30 & 112.95 as targets.

Comment: a support base at 113.75 has formed and has allowed for a temporary stabilisation.

Our preference: short positions below 1.3250 with targets at 1.3155 & 1.3125 in extension.

Alternative scenario: above 1.3250 look for further upside with 1.3295 & 1.3320 as targets.

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

Our preference: long positions above 0.7680 with targets at 0.7725 & 0.7750 in extension.

Alternative scenario: below 0.7680 look for further downside with 0.7640 & 0.7620 as targets.

Comment: the break above 0.7680 is a positive signal that has opened a path to 0.7725.

Our preference: short positions below 1.2860 with targets at 1.2810 & 1.2780 in extension.

Alternative scenario: above 1.2860 look for further upside with 1.2890 & 1.2910 as targets.

Comment: as long as the resistance at 1.2860 is not surpassed, the risk of the break below 1.2810 remains high.

Our preference: long positions above 1273.00 with targets at 1282.50 & 1286.00 in extension.

Alternative scenario: below 1273.00 look for further downside with 1268.00 & 1265.00 as targets.

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

Our preference: short positions below 54.70 with targets at 53.80 & 53.40 in extension.

Alternative scenario: above 54.70 look for further upside with 55.22 & 55.70 as targets.

Comment: technically the RSI is below its neutrality area at 50.