EUR/USD Intraday: capped by a negative trend line.
Pivot: 1.1180
Our preference: short positions below 1.1180 with targets @ 1.1130 & 1.1105 in extension.
Alternative scenario: above 1.1180 look for further upside with 1.1210 & 1.1240 as targets.
Comment: the RSI is mixed to bearish.
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: further advance.
Pivot: 1.3055
Our preference: long positions above 1.3055 with targets @ 1.3165 & 1.3210 in extension.
Alternative scenario: below 1.3055 look for further downside with 1.3030 & 1.2995 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/CHF Intraday: further advance.
Pivot: 0.9790
Our preference: long positions above 0.9790 with targets @ 0.9900 & 0.9945 in extension.
Alternative scenario: below 0.9790 look for further downside with 0.9760 & 0.9735 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: 102.40
Our preference: long positions above 102.40 with targets @ 103.65 & 103.95 in extension.
Alternative scenario: below 102.40 look for further downside with 102.10 & 101.65 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.
Daily Technical Analysis – 31 Aug, 2016
