Our preference: long positions above 1.0400 with targets at 1.0525 & 1.0565 in extension.
Alternative scenario: below 1.0400 look for further downside with 1.0365 & 1.0335 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: rebound.
Pivot: 1.2385
Our preference: long positions above 1.2385 with targets at 1.2480 & 1.2510 in extension.
Alternative scenario: below 1.2385 look for further downside with 1.2360 & 1.2315 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: under pressure.
Pivot: 1.0315
Our preference: short positions below 1.0315 with targets at 1.0250 & 1.0210 in extension.
Alternative scenario: above 1.0315 look for further upside with 1.0345 & 1.0375 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: the bias remains bullish.
Pivot: 117.75
Our preference: long positions above 117.75 with targets at 118.65 & 119.05 in extension.
Alternative scenario: below 117.75 look for further downside with 117.20 & 116.65 as targets.
Comment: the RSI lacks downward 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
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.
