Daily Technical Analysis – 25 Oct, 2016

Our preference: short positions below 1.0915 with targets at 1.0855 & 1.0830 in extension.

Alternative scenario: above 1.0915 look for further upside with 1.0950 & 1.0985 as targets.

Comment: a break below 1.0855 would trigger a drop towards 1.0830.

Our preference: short positions below 1.2255 with targets at 1.2175 & 1.2145 in extension.

Alternative scenario: above 1.2255 look for further upside with 1.2285 & 1.2320 as targets.

Comment: The pair is shaping a triangle pattern.

Our preference: long positions above 0.9915 with targets at 0.9970 & 1.0000 in extension.

Alternative scenario: below 0.9915 look for further downside with 0.9895 & 0.9870 as targets.

Comment: a support base at 0.9915 has formed and has allowed for a temporary stabilisation.

Our preference: long positions above 104.00 with targets at 104.85 & 105.20 in extension.

Alternative scenario: below 104.00 look for further downside with 103.75 & 103.50 as targets.

Comment: the RSI is bullish and calls for further advance.