Daily Technical Analysis – 18 Nov, 2016

Our preference: short positions below 1.0770 with targets at 1.0670 & 1.0595 in extension.

Alternative scenario: above 1.0770 look for further upside with 1.0820 & 1.0865 as targets.

Comment: the RSI shows downside momentum.

Our preference: short positions below 1.2515 with targets at 1.2380 & 1.2355 in extension.

Alternative scenario: above 1.2515 look for further upside with 1.2570 & 1.2615 as targets.

Comment: as long as the resistance at 1.2515 is not surpassed, the risk of the break below 1.2380 remains high.

Our preference: long positions above 0.9980 with targets at 1.0065 & 1.0100 in extension.

Alternative scenario: below 0.9980 look for further downside with 0.9940 & 0.9900 as targets.

Comment: the RSI shows upside momentum.

Our preference: long positions above 108.35 with targets at 109.85 & 110.60 in extension.

Alternative scenario: below 108.35 look for further downside with 107.70 & 106.90 as targets.

Comment: the RSI shows upside momentum.