Our preference: short positions below 1.0680 with targets at 1.0620 & 1.0595 in extension.
Alternative scenario: above 1.0680 look for further upside with 1.0710 & 1.0745 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
GBP/USD Intraday: under pressure.
Pivot: 1.2460
Our preference: short positions below 1.2460 with targets at 1.2380 & 1.2345 in extension.
Alternative scenario: above 1.2460 look for further upside with 1.2500 & 1.2525 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/CHF Intraday: under pressure.
Pivot: 1.0015
Our preference: short positions below 1.0015 with targets at 0.9955 & 0.9930 in extension.
Alternative scenario: above 1.0015 look for further upside with 1.0050 & 1.0075 as targets.
Comment: the RSI lacks upward 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 downside prevails.
Pivot: 113.50
Our preference: short positions below 113.50 with targets at 112.55 & 112.15 in extension.
Alternative scenario: above 113.50 look for further upside with 113.80 & 114.30 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
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
