Daily Technical Analysis – 15 Feb, 2017

Our preference: short positions below 1.0590 with targets at 1.0535 & 1.0510 in extension.

Alternative scenario: above 1.0590 look for further upside with 1.0605 & 1.0630 as targets.

Comment: the RSI is mixed to bearish.

Our preference: short positions below 1.2475 with targets at 1.2400 & 1.2370 in extension.

Alternative scenario: above 1.2475 look for further upside with 1.2515 & 1.2550 as targets.

Comment: The pair has validated a continuation triangle pattern.

Our preference: long positions above 1.0050 with targets at 1.0100 & 1.0120 in extension.

Alternative scenario: below 1.0050 look for further downside with 1.0030 & 1.0015 as targets.

Comment: the RSI shows upside momentum.

Our preference: long positions above 114.00 with targets at 114.90 & 115.25 in extension.

Alternative scenario: below 114.00 look for further downside with 113.60 & 113.20 as targets.

Comment: the RSI lacks downward momentum.