Daily Technical Analysis – 24 Nov, 2016

Our preference: short positions below 1.0585 with targets at 1.0510 & 1.0460 in extension.

Alternative scenario: above 1.0585 look for further upside with 1.0615 & 1.0660 as targets.

Comment: as long as the resistance at 1.0585 is not surpassed, the risk of the break below 1.0510 remains high.

Our preference: long positions above 1.2365 with targets at 1.2515 & 1.2555 in extension.

Alternative scenario: below 1.2365 look for further downside with 1.2300 & 1.2245 as targets.

Comment: the RSI shows upside momentum.

Our preference: long positions above 1.0120 with targets at 1.0195 & 1.0220 in extension.

Alternative scenario: below 1.0120 look for further downside with 1.0060 & 1.0025 as targets.

Comment: the RSI lacks downward momentum.

Our preference: long positions above 112.15 with targets at 113.75 & 114.30 in extension.

Alternative scenario: below 112.15 look for further downside with 111.30 & 110.75 as targets.

Comment: the RSI is mixed to bullish.