Daily Technical Analysis – 20 Jan, 2017

Our preference: short positions below 1.0670 with targets at 1.0620 & 1.0590 in extension.

Alternative scenario: above 1.0670 look for further upside with 1.0690 & 1.0715 as targets.

Comment: the break below the support at 1.0670 triggered a downward acceleration to 1.0590.

Our preference: short positions below 1.2370 with targets at 1.2250 & 1.2225 in extension.

Alternative scenario: above 1.2370 look for further upside with 1.2415 & 1.2450 as targets.

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

Our preference: long positions above 1.0055 with targets at 1.0120 & 1.0135 in extension.

Alternative scenario: below 1.0055 look for further downside with 1.0030 & 1.0010 as targets.

Comment: the RSI advocates for further upside.

Our preference: long positions above 114.80 with targets at 115.65 & 116.00 in extension.

Alternative scenario: below 114.80 look for further downside with 114.40 & 113.90 as targets.

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