Daily Technical Analysis – 3 January, 2018

Our preference: short positions below 1.2045 with targets at 1.1990 & 1.1960 in extension.

Alternative scenario: above 1.2045 look for further upside with 1.2080 & 1.2115 as targets.

Comment: the RSI shows downside momentum.

Our preference: long positions above 0.9700 with targets at 0.9770 & 0.9810 in extension.

Alternative scenario: below 0.9700 look for further downside with 0.9670 & 0.9630 as targets.

Comment: the RSI shows upside momentum.

Our preference: short positions below 112.55 with targets at 112.00 & 111.70 in extension.

Alternative scenario: above 112.55 look for further upside with 112.80 & 113.00 as targets.

Comment: as long as the resistance at 112.55 is not surpassed, the risk of the break below 112.00 remains high.

Our preference: long positions above 1.3540 with targets at 1.3615 & 1.3650 in extension.

Alternative scenario: below 1.3540 look for further downside with 1.3495 & 1.3455 as targets.

Comment: the RSI lacks downward momentum.

Our preference: long positions above 0.7810 with targets at 0.7860 & 0.7880 in extension.

Alternative scenario: below 0.7810 look for further downside with 0.7795 & 0.7775 as targets.

Comment: the RSI shows upside momentum.

Our preference: short positions below 1.2540 with targets at 1.2485 & 1.2450 in extension.

Alternative scenario: above 1.2540 look for further upside with 1.2565 & 1.2585 as targets.

Comment: the RSI lacks upward momentum.

Our preference: long positions above 1309.50 with targets at 1322.00 & 1326.00 in extension.

Alternative scenario: below 1309.50 look for further downside with 1301.50 & 1296.00 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Our preference: long positions above 60.45 with targets at 61.25 & 61.55 in extension.

Alternative scenario: below 60.45 look for further downside with 60.10 & 59.80 as targets.

Comment: the RSI broke above a bearish trend line.