Daily Technical Analysis – 24 August, 2017

Our preference: long positions above 1.1775 with targets at 1.1830 & 1.1860 in extension.

Alternative scenario: below 1.1775 look for further downside with 1.1735 & 1.1705 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Our preference: short positions below 1.2830 with targets at 1.2775 & 1.2745 in extension.

Alternative scenario: above 1.2830 look for further upside with 1.2855 & 1.2890 as targets.

Comment: the RSI lacks upward momentum.

Our preference: short positions below 0.9675 with targets at 0.9635 & 0.9605 in extension.

Alternative scenario: above 0.9675 look for further upside with 0.9700 & 0.9730 as targets.

Comment: the upward potential is likely to be limited by the resistance at 0.9675.

Our preference: long positions above 108.80 with targets at 109.55 & 109.80 in extension.

Alternative scenario: below 108.80 look for further downside with 108.65 & 108.30 as targets.

Comment: the RSI shows upside momentum.