Daily Technical Analysis – 3 October, 2017

Our preference: long positions above 1.1695 with targets at 1.1770 & 1.1800 in extension.

Alternative scenario: below 1.1695 look for further downside with 1.1645 & 1.1615 as targets.

Comment: the RSI shows upside momentum.

Our preference: long positions above 0.9730 with targets at 0.9790 & 0.9810 in extension.

Alternative scenario: below 0.9730 look for further downside with 0.9700 & 0.9685 as targets.

Comment: the RSI lacks downward momentum.

Our preference: long positions above 112.75 with targets at 113.25 & 113.50 in extension.

Alternative scenario: below 112.75 look for further downside with 112.50 & 112.20 as targets.

Comment: the RSI shows upside momentum.

Our preference: short positions below 1.3295 with targets at 1.3230 & 1.3205 in extension.

Alternative scenario: above 1.3295 look for further upside with 1.3355 & 1.3400 as targets.

Comment: the RSI lacks upward momentum.

Our preference: short positions below 0.7840 with targets at 0.7790 & 0.7765 in extension.

Alternative scenario: above 0.7840 look for further upside with 0.7875 & 0.7900 as targets.

Comment: the RSI is mixed to bearish.

Our preference: long positions above 1.2480 with targets at 1.2550 & 1.2590 in extension.

Alternative scenario: below 1.2480 look for further downside with 1.2445 & 1.2415 as targets.

Comment: the RSI lacks downward momentum.

Our preference: short positions below 1277.00 with targets at 1262.00 & 1258.00 in extension.

Alternative scenario: above 1277.00 look for further upside with 1281.00 & 1286.50 as targets.

Comment: the RSI is bearish and calls for further downside.

Our preference: short positions below 50.95 with targets at 50.05 & 49.75 in extension.

Alternative scenario: above 50.95 look for further upside with 51.30 & 51.75 as targets.

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