Daily Technical Analysis – 24 March, 2017

Our preference: long positions above 1.0755 with targets at 1.0825 & 1.0850 in extension.

Alternative scenario: below 1.0755 look for further downside with 1.0730 & 1.0705 as targets.

Comment: the RSI shows upside momentum.

Our preference: long positions above 1.2470 with targets at 1.2530 & 1.2565 in extension.

Alternative scenario: below 1.2470 look for further downside with 1.2425 & 1.2380 as targets.

Comment: a support base at 1.2470 has formed and has allowed for a temporary stabilisation.

Our preference: short positions below 0.9965 with targets at 0.9895 & 0.9880 in extension.

Alternative scenario: above 0.9965 look for further upside with 0.9990 & 1.0010 as targets.

Comment: the RSI shows downside momentum.

Our preference: short positions below 111.50 with targets at 110.80 & 110.55 in extension.

Alternative scenario: above 111.50 look for further upside with 112.25 & 112.90 as targets.

Comment: the RSI is mixed to bearish.