Daily Technical Analysis – 10 July, 2017

Our preference: long positions above 1.1380 with targets at 1.1420 & 1.1440 in extension.

Alternative scenario: below 1.1380 look for further downside with 1.1360 & 1.1340 as targets.

Comment: a support base at 1.1380 has formed and has allowed for a temporary stabilisation.

Our preference: short positions below 1.2895 with targets at 1.2855 & 1.2825 in extension.

Alternative scenario: above 1.2895 look for further upside with 1.2920 & 1.2945 as targets.

Comment: the immediate trend remains down and the momentum is strong.

Our preference: long positions above 0.9625 with targets at 0.9680 & 0.9700 in extension.

Alternative scenario: below 0.9625 look for further downside with 0.9605 & 0.9590 as targets.

Comment: the RSI is bullish and calls for further upside.

Our preference: long positions above 113.85 with targets at 114.40 & 114.65 in extension.

Alternative scenario: below 113.85 look for further downside with 113.50 & 113.10 as targets.

Comment: the break above 113.85 is a positive signal that has opened a path to 114.40.