Our preference: short positions below 1.0675 with targets at 1.0615 & 1.0600 in extension.
Alternative scenario: above 1.0675 look for further upside with 1.0710 & 1.0740 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
GBP/USD Intraday: key resistance at 1.2540.
Pivot: 1.2540
Our preference: short positions below 1.2540 with targets at 1.2425 & 1.2375 in extension.
Alternative scenario: above 1.2540 look for further upside with 1.2580 & 1.2620 as targets.
Comment: the RSI shows downside 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/CHF Intraday: further advance.
Pivot: 0.9985
Our preference: long positions above 0.9985 with targets at 1.0045 & 1.0070 in extension.
Alternative scenario: below 0.9985 look for further downside with 0.9965 & 0.9930 as targets.
Comment: the RSI shows upside 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: the upside prevails.
Pivot: 113.10
Our preference: long positions above 113.10 with targets at 113.95 & 114.30 in extension.
Alternative scenario: below 113.10 look for further downside with 112.75 & 112.45 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.
