Our preference: long positions above 1.0430 with targets at 1.0460 & 1.0470 in extension.
Alternative scenario: below 1.0430 look for further downside with 1.0415 & 1.0400 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
GBP/USD Intraday: the downside prevails.
Pivot: 1.2290
Our preference: short positions below 1.2290 with targets at 1.2225 & 1.2200 in extension.
Alternative scenario: above 1.2290 look for further upside with 1.2305 & 1.2320 as targets.
Comment: the RSI shows downside 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: the bias remains bullish.
Pivot: 1.0260
Our preference: long positions above 1.0260 with targets at 1.0300 & 1.0315 in extension.
Alternative scenario: below 1.0260 look for further downside with 1.0240 & 1.0220 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
USD/JPY Intraday: under pressure.
Pivot: 117.45
Our preference: short positions below 117.45 with targets at 117.15 & 117.00 in extension.
Alternative scenario: above 117.45 look for further upside with 117.65 & 117.85 as targets.
Comment: the RSI lacks upward 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.
