Our preference: short positions below 1.0775 with targets at 1.0725 & 1.0710 in extension.
Alternative scenario: above 1.0775 look for further upside with 1.0800 & 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: capped by a negative trend line.
Pivot: 1.2510
Our preference: short positions below 1.2510 with targets at 1.2425 & 1.2400 in extension.
Alternative scenario: above 1.2510 look for further upside with 1.2540 & 1.2565 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: bullish bias above 0.9905.
Pivot: 0.9905
Our preference: long positions above 0.9905 with targets at 0.9975 & 0.9990 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: intraday support around 112.25.
Pivot: 112.25
Our preference: long positions above 112.25 with targets at 112.75 & 113.00 in extension.
Alternative scenario: below 112.25 look for further downside with 112.00 & 111.80 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
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.
