Our preference: short positions below 1.0775 with targets at 1.0710 & 1.0680 in extension.
Alternative scenario: above 1.0775 look for further upside with 1.0805 & 1.0825 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: under pressure.
Pivot: 1.2565
Our preference: short positions below 1.2565 with targets at 1.2470 & 1.2425 in extension.
Alternative scenario: above 1.2565 look for further upside with 1.2610 & 1.2650 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/CHF Intraday: the upside prevails.
Pivot: 0.9905
Our preference: long positions above 0.9905 with targets at 0.9990 & 1.0020 in extension.
Alternative scenario: below 0.9905 look for further downside with 0.9885 & 0.9865 as targets.
Comment: the RSI shows upside 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 upside prevails.
Pivot: 112.50
Our preference: long positions above 112.50 with targets at 113.30 & 113.60 in extension.
Alternative scenario: below 112.50 look for further downside with 112.15 & 111.80 as targets.
Comment: the RSI shows upside 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.
