Daily Technical Analysis – 18 July, 2017

Our preference: long positions above 1.1485 with targets at 1.1575 & 1.1600 in extension.

Alternative scenario: below 1.1485 look for further downside with 1.1470 & 1.1435 as targets.

Comment: the RSI shows upside momentum.

Our preference: short positions below 1.3115 with targets at 1.3000 & 1.2950 in extension.

Alternative scenario: above 1.3115 look for further upside with 1.3150 & 1.3200 as targets.

Comment: the RSI shows downside momentum.

Our preference: short positions below 0.9610 with targets at 0.9530 & 0.9510 in extension.

Alternative scenario: above 0.9610 look for further upside with 0.9635 & 0.9655 as targets.

Comment: the RSI shows downside momentum.

Our preference: short positions below 112.55 with targets at 111.90 & 111.50 in extension.

Alternative scenario: above 112.55 look for further upside with 112.85 & 113.15 as targets.

Comment: The pair has validated a bearish flag and remains under pressure.