Daily Technical Analysis – 23 Sep, 2016

Our preference: long positions above 1.1180 with targets @ 1.1250 & 1.1275 in extension.

Alternative scenario: below 1.1180 look for further downside with 1.1150 & 1.1135 as targets.

Comment: the RSI shows upside momentum.

Our preference: short positions below 1.3030 with targets @ 1.2950 & 1.2900 in extension.

Alternative scenario: above 1.3030 look for further upside with 1.3065 & 1.3090 as targets.

Comment: the RSI shows downside momentum.

Our preference: short positions below 0.9720 with targets @ 0.9660 & 0.9635 in extension.

Alternative scenario: above 0.9720 look for further upside with 0.9745 & 0.9775 as targets.

Comment: the upward potential is likely to be limited by the resistance at 0.9720.

Our preference: short positions below 101.25 with targets @ 100.50 & 100.05 in extension.

Alternative scenario: above 101.25 look for further upside with 101.60 & 102.05 as targets.

Comment: The pair has validated a bearish flag.