Our preference: long positions above 1.0515 with targets at 1.0615 & 1.0660 in extension.
Alternative scenario: below 1.0515 look for further downside with 1.0460 & 1.0400 as targets.
Comment: the RSI shows upside 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: the upside prevails.
Pivot: 1.2410
Our preference: long positions above 1.2410 with targets at 1.2515 & 1.2555 in extension.
Alternative scenario: below 1.2410 look for further downside with 1.2365 & 1.2300 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
USD/CHF Intraday: caution.
Pivot: 1.0120
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 1.0090 & 1.0060 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/JPY Intraday: the bias remains bullish.
Pivot: 112.15
Our preference: long positions above 112.15 with targets at 113.90 & 114.30 in extension.
Alternative scenario: below 112.15 look for further downside with 111.30 & 110.75 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
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.
