Our preference: short positions below 1.0625 with targets at 1.0575 & 1.0560 in extension.
Alternative scenario: above 1.0625 look for further upside with 1.0655 & 1.0680 as targets.
Comment: the RSI lacks upward momentum.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
GBP/USD Intraday: under pressure.
Pivot: 1.2475
Our preference: short positions below 1.2475 with targets at 1.2400 & 1.2380 in extension.
Alternative scenario: above 1.2475 look for further upside with 1.2505 & 1.2530 as targets.
Comment: the RSI is mixed to bearish.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
USD/CHF Intraday: turning down.
Pivot: 1.0090
Our preference: short positions below 1.0090 with targets at 1.0015 & 1.0000 in extension.
Alternative scenario: above 1.0090 look for further upside with 1.0115 & 1.0140 as targets.
Comment: the RSI shows downside momentum.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
USD/JPY Intraday: the downside prevails.
Pivot: 112.60
Our preference: short positions below 112.60 with targets at 111.90 & 111.60 in extension.
Alternative scenario: above 112.60 look for further upside with 112.90 & 113.10 as targets.
Comment: the RSI shows downside momentum.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
