Our preference: short positions below 1.0560 with targets at 1.0510 & 1.0480 in extension.
Alternative scenario: above 1.0560 look for further upside with 1.0585 & 1.0615 as targets.
Comment: the RSI is mixed to bearish.
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: 1.2250
Our preference: short positions below 1.2250 with targets at 1.2120 & 1.2075 in extension.
Alternative scenario: above 1.2250 look for further upside with 1.2295 & 1.2350 as targets.
Comment: the RSI is mixed to bearish.
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 bias remains bullish.
Pivot: 1.0155
Our preference: long positions above 1.0155 with targets at 1.0200 & 1.0240 in extension.
Alternative scenario: below 1.0155 look for further downside with 1.0125 & 1.0100 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
USD/JPY Intraday: turning down.
Pivot: 117.55
Our preference: short positions below 117.55 with targets at 116.25 & 115.70 in extension.
Alternative scenario: above 117.55 look for further upside with 118.20 & 118.60 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
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.
