Our preference: long positions above 1.0595 with targets at 1.0670 & 1.0705 in extension.
Alternative scenario: below 1.0595 look for further downside with 1.0550 & 1.0525 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
GBP/USD Intraday: continuation of the rebound.
Pivot: 1.2620
Our preference: long positions above 1.2620 with targets at 1.2695 & 1.2730 in extension.
Alternative scenario: below 1.2620 look for further downside with 1.2595 & 1.2555 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/CHF Intraday: the downside prevails.
Pivot: 1.0145
Our preference: short positions below 1.0145 with targets at 1.0080 & 1.0035 in extension.
Alternative scenario: above 1.0145 look for further upside with 1.0170 & 1.0195 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/JPY Intraday: under pressure.
Pivot: 115.50
Our preference: short positions below 115.50 with targets at 114.80 & 114.60 in extension.
Alternative scenario: above 115.50 look for further upside with 115.85 & 116.15 as targets.
Comment: the RSI is mixed to bearish.
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.
