Daily Technical Analysis – 14 Nov, 2016

Our preference: short positions below 1.0865 with targets at 1.0710 & 1.0670 in extension.

Alternative scenario: above 1.0865 look for further upside with 1.0920 & 1.0985 as targets.

Comment: The pair remains within a bearish channel.

Our preference: short positions below 1.2585 with targets at 1.2445 & 1.2375 in extension.

Alternative scenario: above 1.2585 look for further upside with 1.2660 & 1.2700 as targets.

Comment: the RSI is mixed to bearish.

Our preference: long positions above 0.9880 with targets at 1.0000 & 1.0035 in extension.

Alternative scenario: below 0.9880 look for further downside with 0.9830 & 0.9765 as targets.

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

Our preference: long positions above 106.90 with targets at 108.75 & 109.85 in extension.

Alternative scenario: below 106.90 look for further downside with 105.90 & 104.95 as targets.

Comment: the RSI shows upside momentum.