Our preference: long positions above 1.1290 with targets @ 1.1345 & 1.1370 in extension.
Alternative scenario: below 1.1290 look for further downside with 1.1270 & 1.1245 as targets.
Comment: the RSI is well directed.
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: further advance.
Pivot: 1.4240
Our preference: long positions above 1.4240 with targets @ 1.4390 & 1.4425 in extension.
Alternative scenario: below 1.4240 look for further downside with 1.4200 & 1.4160 as targets.
Comment: the RSI is well directed.
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: under pressure.
Pivot: 0.9660
Our preference: short positions below 0.9660 with targets @ 0.9610 & 0.9590 in extension.
Alternative scenario: above 0.9660 look for further upside with 0.9685 & 0.9710 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: further upside.
Pivot: 108.70
Our preference: long positions above 108.70 with targets @ 109.45 & 109.75 in extension.
Alternative scenario: below 108.70 look for further downside with 108.50 & 108.10 as targets.
Comment: the RSI is well directed.
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 19, 2016
