Daily Technical Analysis – 6 Jan, 2017

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 Daily Technical Analysis – 6 Jan, 2017

EUR/USD Intraday: caution.
Pivot: 1.0570

Our preference: long positions above 1.0570 with targets at 1.0615 & 1.0655 in extension.

Alternative scenario: below 1.0570 look for further downside with 1.0550 & 1.0525 as targets.

Comment: the RSI is mixed and calls for caution.

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: turning down.
Pivot: 1.2400

Our preference: short positions below 1.2400 with targets at 1.2315 & 1.2275 in extension.

Alternative scenario: above 1.2400 look for further upside with 1.2435 & 1.2470 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: key resistance at 1.0130.
Pivot: 1.0130

Our preference: short positions below 1.0130 with targets at 1.0090 & 1.0060 in extension.

Alternative scenario: above 1.0130 look for further upside with 1.0165 & 1.0200 as targets.

Comment: the RSI lacks upward 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: 115.15

Our preference: long positions above 115.15 with targets at 116.75 & 117.10 in extension.

Alternative scenario: below 115.15 look for further downside with 114.70 & 114.25 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

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