Daily Technical Analysis – 27 Feb, 2017

Our preference: short positions below 1.0595 with targets at 1.0560 & 1.0540 in extension.

Alternative scenario: above 1.0595 look for further upside with 1.0630 & 1.0655 as targets.

Comment: the RSI lacks upward momentum.

Our preference: short positions below 1.2460 with targets at 1.2380 & 1.2350 in extension.

Alternative scenario: above 1.2460 look for further upside with 1.2505 & 1.2530 as targets.

Comment: the RSI is mixed to bearish.

Our preference: short positions below 1.0090 with targets at 1.0040 & 1.0015 in extension.

Alternative scenario: above 1.0090 look for further upside with 1.0115 & 1.0140 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1.0090.

Our preference: short positions below 112.50 with targets at 111.90 & 111.60 in extension.

Alternative scenario: above 112.50 look for further upside with 112.90 & 113.30 as targets.

Comment: as long as 112.50 is resistance, look for choppy price action with a bearish bias.