Our preference: short positions below 1.0875 with targets at 1.0835 & 1.0815 in extension.
Alternative scenario: above 1.0875 look for further upside with 1.0905 & 1.0925 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
GBP/USD Intraday: the upside prevails.
Pivot: 1.2530
Our preference: long positions above 1.2530 with targets at 1.2595 & 1.2615 in extension.
Alternative scenario: below 1.2530 look for further downside with 1.2505 & 1.2470 as targets.
Comment: the RSI lacks downward 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/CHF Intraday: the upside prevails.
Pivot: 0.9830
Our preference: long positions above 0.9830 with targets at 0.9885 & 0.9910 in extension.
Alternative scenario: below 0.9830 look for further downside with 0.9810 & 0.9790 as targets.
Comment: the RSI is mixed to bullish.
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: turning down.
Pivot: 110.85
Our preference: short positions below 110.85 with targets at 110.05 & 109.70 in extension.
Alternative scenario: above 110.85 look for further upside with 111.15 & 111.50 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
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.
