Our preference: long positions above 1.1200 with targets @ 1.1345 & 1.1375 in extension.
Alternative scenario: below 1.1200 look for further downside with 1.1165 & 1.1125 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: the upside prevails.
Pivot: 1.4200
Our preference: long positions above 1.4200 with targets @ 1.4390 & 1.4435 in extension.
Alternative scenario: below 1.4200 look for further downside with 1.4145 & 1.4085 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: the downside prevails.
Pivot: 0.9790
Our preference: short positions below 0.9790 with targets @ 0.9675 & 0.9655 in extension.
Alternative scenario: above 0.9790 look for further upside with 0.9845 & 0.9915 as targets.
Comment: the RSI is badly 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/JPY Intraday: under pressure.
Pivot: 112.30
Our preference: short positions below 112.30 with targets @ 111.05 & 110.40 in extension.
Alternative scenario: above 112.30 look for further upside with 113.05 & 113.45 as targets.
Comment: the RSI is badly 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 – March 17, 2016
