Daily Technical Analysis – 11 Oct, 2016

Our preference: short positions below 1.1145 with targets at 1.1070 & 1.1050 in extension.

Alternative scenario: above 1.1145 look for further upside with 1.1175 & 1.1200 as targets.

Comment: the RSI shows downside momentum.

Our preference: short positions below 1.2360 with targets at 1.2225 & 1.2120 in extension.

Alternative scenario: above 1.2360 look for further upside with 1.2400 & 1.2485 as targets.

Comment: The pair is trading within a bearish channel.

Our preference: long positions above 0.9810 with targets at 0.9885 & 0.9905 in extension.

Alternative scenario: below 0.9810 look for further downside with 0.9790 & 0.9765 as targets.

Comment: the RSI shows upside momentum.

Our preference: long positions above 103.50 with targets at 104.20 & 104.50 in extension.

Alternative scenario: below 103.50 look for further downside with 103.05 & 102.75 as targets.

Comment: the RSI is mixed to bullish.