Our preference: short positions below 1.1295 with targets @ 1.1230 & 1.1185 in extension.
Alternative scenario: above 1.1295 look for further upside with 1.1345 & 1.1370 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
GBP/USD Intraday: under pressure.
Pivot: 1.4200
Our preference: short positions below 1.4200 with targets @ 1.4090 & 1.4050 in extension.
Alternative scenario: above 1.4200 look for further upside with 1.4260 & 1.4290 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: limited upside.
Pivot: 0.9610
Our preference: long positions above 0.9610 with targets @ 0.9710 & 0.9740 in extension.
Alternative scenario: below 0.9610 look for further downside with 0.9590 & 0.9560 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
USD/JPY Intraday: bullish bias above 108.80.
Pivot: 108.80
Our preference: long positions above 108.80 with targets @ 109.55 & 109.95 in extension.
Alternative scenario: below 108.80 look for further downside with 108.45 & 108.05 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.
Daily Technical Analysis – April 14, 2016
