Our preference: long positions above 1.0565 with targets at 1.0685 & 1.0740 in extension.
Alternative scenario: below 1.0565 look for further downside with 1.0510 & 1.0460 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
GBP/USD Intraday: caution.
Pivot: 1.2435
Our preference: long positions above 1.2435 with targets at 1.2515 & 1.2555 in extension.
Alternative scenario: below 1.2435 look for further downside with 1.2370 & 1.2300 as targets.
Comment: the RSI is mixed and calls for caution.
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: the upside prevails.
Pivot: 1.0060
Our preference: long positions above 1.0060 with targets at 1.0120 & 1.0145 in extension.
Alternative scenario: below 1.0060 look for further downside with 1.0025 & 0.9990 as targets.
Comment: the RSI is mixed to bullish.
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: under pressure.
Pivot: 111.35
Our preference: short positions below 111.35 with targets at 110.20 & 109.80 in extension.
Alternative scenario: above 111.35 look for further upside with 112.00 & 112.65 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
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.
