Our preference: long positions above 1.0570 with targets at 1.0615 & 1.0655 in extension.
Alternative scenario: below 1.0570 look for further downside with 1.0550 & 1.0525 as targets.
Comment: the RSI is mixed and calls for caution.
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: 1.2400
Our preference: short positions below 1.2400 with targets at 1.2315 & 1.2275 in extension.
Alternative scenario: above 1.2400 look for further upside with 1.2435 & 1.2470 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: key resistance at 1.0130.
Pivot: 1.0130
Our preference: short positions below 1.0130 with targets at 1.0090 & 1.0060 in extension.
Alternative scenario: above 1.0130 look for further upside with 1.0165 & 1.0200 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: the upside prevails.
Pivot: 115.15
Our preference: long positions above 115.15 with targets at 116.75 & 117.10 in extension.
Alternative scenario: below 115.15 look for further downside with 114.70 & 114.25 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
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.
