Our preference: long positions above 1.0605 with targets at 1.0670 & 1.0700 in extension.
Alternative scenario: below 1.0605 look for further downside with 1.0560 & 1.0540 as targets.
Comment: the RSI is mixed to bullish.
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: turning down.
Pivot: 1.2530
Our preference: short positions below 1.2530 with targets at 1.2385 & 1.2365 in extension.
Alternative scenario: above 1.2530 look for further upside with 1.2575 & 1.2615 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 upside prevails.
Pivot: 1.0100
Our preference: long positions above 1.0100 with targets at 1.0170 & 1.0190 in extension.
Alternative scenario: below 1.0100 look for further downside with 1.0075 & 1.0040 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: further advance.
Pivot: 112.15
Our preference: long positions above 112.15 with targets at 113.90 & 114.50 in extension.
Alternative scenario: below 112.15 look for further downside with 111.60 & 111.20 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
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.
