Daily Technical Analysis – 24 Feb, 2017

Our preference: long positions above 1.0565 with targets at 1.0630 & 1.0655 in extension.

Alternative scenario: below 1.0565 look for further downside with 1.0540 & 1.0520 as targets.

Comment: The pair has validated a continuation bullish triangle and should post further advance.

Our preference: long positions above 1.2520 with targets at 1.2580 & 1.2610 in extension.

Alternative scenario: below 1.2520 look for further downside with 1.2500 & 1.2470 as targets.

Comment: the RSI shows upside momentum.

Our preference: short positions below 1.0090 with targets at 1.0015 & 0.9975 in extension.

Alternative scenario: above 1.0090 look for further upside with 1.0115 & 1.0140 as targets.

Comment: the RSI shows downside momentum.

Our preference: short positions below 112.90 with targets at 112.00 & 111.60 in extension.

Alternative scenario: above 112.90 look for further upside with 113.30 & 113.60 as targets.

Comment: The pair has validated a bearish flag calling for further drop.