Daily Technical Analysis – 13 July, 2017

Our preference: short positions below 1.1455 with targets at 1.1355 & 1.1340 in extension.

Alternative scenario: above 1.1455 look for further upside with 1.1470 & 1.1490 as targets.

Comment: as long as 1.1455 is resistance, look for choppy price action with a bearish bias.

Our preference: long positions above 1.2900 with targets at 1.2955 & 1.2975 in extension.

Alternative scenario: below 1.2900 look for further downside with 1.2875 & 1.2855 as targets.

Comment: the break above 1.2900 is a positive signal that has opened a path to 1.2955.

Our preference: long positions above 0.9615 with targets at 0.9670 & 0.9695 in extension.

Alternative scenario: below 0.9615 look for further downside with 0.9600 & 0.9570 as targets.

Comment: the RSI is mixed with a bullish bias.

Our preference: short positions below 113.40 with targets at 112.60 & 112.40 in extension.

Alternative scenario: above 113.40 look for further upside with 113.70 & 113.95 as targets.

Comment: the RSI is capped by a bearish trend line.