Daily Technical Analysis – 28 Feb, 2017

Our preference: short positions below 1.0550 with targets at 1.0495 & 1.0470 in extension.

Alternative scenario: above 1.0550 look for further upside with 1.0570 & 1.0590 as targets.

Comment: the RSI is capped by a declining trend line.

Our preference: short positions below 1.2330 with targets at 1.2230 & 1.2200 in extension.

Alternative scenario: above 1.2330 look for further upside with 1.2355 & 1.2405 as targets.

Comment: the RSI is mixed with a bearish bias.

Our preference: long positions above 1.0090 with targets at 1.0135 & 1.0150 in extension.

Alternative scenario: below 1.0090 look for further downside with 1.0075 & 1.0060 as targets.

Comment: the RSI shows upside momentum.

Our preference: long positions above 113.65 with targets at 114.60 & 115.00 in extension.

Alternative scenario: below 113.65 look for further downside with 113.30 & 112.85 as targets.

Comment: the RSI shows upside momentum.