Our preference: long positions above 1.0925 with targets at 1.0995 & 1.1020 in extension.
Alternative scenario: below 1.0925 look for further downside with 1.0900 & 1.0880 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: key resistance at 1.2205.
Pivot: 1.2205
Our preference: short @ 1.2180 with targets @ 1.2135 & 1.2110 in extension.
Alternative scenario: above 1.2205 look for further upside with 1.2265 & 1.2300 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: under pressure.
Pivot: 0.9915
Our preference: short positions below 0.9915 with targets at 0.9840 & 0.9815 in extension.
Alternative scenario: above 0.9915 look for further upside with 0.9950 & 0.9980 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
USD/JPY Intraday: rebound.
Pivot: 104.35
Our preference: long positions above 104.35 with targets at 105.55 & 105.95 in extension.
Alternative scenario: below 104.35 look for further downside with 104.00 & 103.50 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.
