Daily Technical Analysis – 1 August, 2017

Our preference: long positions above 1.1765 with targets at 1.1860 & 1.1905 in extension.

Alternative scenario: below 1.1765 look for further downside with 1.1720 & 1.1690 as targets.

Comment: the RSI is mixed to bullish.

Our preference: long positions above 1.3150 with targets at 1.3270 & 1.3315 in extension.

Alternative scenario: below 1.3150 look for further downside with 1.3100 & 1.3070 as targets.

Comment: the RSI is mixed to bullish.

Our preference: short positions below 0.9715 with targets at 0.9635 & 0.9595 in extension.

Alternative scenario: above 0.9715 look for further upside with 0.9765 & 0.9800 as targets.

Comment: as long as the resistance at 0.9715 is not surpassed, the risk of the break below 0.9635 remains high.

Our preference: short positions below 110.70 with targets at 109.95 & 109.45 in extension.

Alternative scenario: above 110.70 look for further upside with 110.95 & 111.30 as targets.

Comment: the RSI lacks upward momentum.