Our preference: short positions below 1.1010 with targets @ 1.0945 & 1.0925 in extension.
Alternative scenario: above 1.1010 look for further upside with 1.1060 & 1.1100 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
GBP/USD Intraday: the upside prevails.
Pivot: 1.4170
Our preference: long positions above 1.4170 with targets @ 1.4275 & 1.4335 in extension.
Alternative scenario: below 1.4170 look for further downside with 1.4130 & 1.4070 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 upside prevails.
Pivot: 0.9960
Our preference: long positions above 0.9960 with targets @ 1.0040 & 1.0070 in extension.
Alternative scenario: below 0.9960 look for further downside with 0.9940 & 0.9900 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: the downside prevails.
Pivot: 112.80
Our preference: short positions below 112.80 with targets @ 112.10 & 111.85 in extension.
Alternative scenario: above 112.80 look for further upside with 113.25 & 113.50 as targets.
Comment: The pair remains within a bearish channel.
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 9, 2016
