Daily Technical Analysis – 20 September, 2017

Our preference: long positions above 1.1985 with targets at 1.2030 & 1.2050 in extension.

Alternative scenario: below 1.1985 look for further downside with 1.1960 & 1.1940 as targets.

Comment: the RSI is mixed to bullish.

Our preference: short positions below 0.9630 with targets at 0.9575 & 0.9560 in extension.

Alternative scenario: above 0.9630 look for further upside with 0.9650 & 0.9680 as targets.

Comment: the RSI shows downside momentum.

Our preference: long positions above 111.20 with targets at 111.65 & 111.85 in extension.

Alternative scenario: below 111.20 look for further downside with 110.95 & 110.60 as targets.

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

Our preference: long positions above 1.3505 with targets at 1.3620 & 1.3700 in extension.

Alternative scenario: below 1.3505 look for further downside with 1.3470 & 1.3425 as targets.

Comment: the RSI shows upside momentum.

Our preference: long positions above 0.8010 with targets at 0.8070 & 0.8080 in extension.

Alternative scenario: below 0.8010 look for further downside with 0.7990 & 0.7960 as targets.

Comment: the RSI shows upside momentum.

Our preference: short positions below 1.2310 with targets at 1.2220 & 1.2190 in extension.

Alternative scenario: above 1.2310 look for further upside with 1.2340 & 1.2370 as targets.

Comment: the RSI shows downside momentum.

Our preference: long positions above 1310.00 with targets at 1316.00 & 1319.00 in extension.

Alternative scenario: below 1310.00 look for further downside with 1304.50 & 1300.00 as targets.

Comment: the RSI is mixed with a bullish bias.

Our preference: long positions above 49.70 with targets at 50.60 & 50.80 in extension.

Alternative scenario: below 49.70 look for further downside with 49.35 & 48.90 as targets.

Comment: a support base at 49.70 has formed and has allowed for a temporary stabilisation.