Daily Technical Analysis – 6 July, 2017

Our preference: long positions above 1.1340 with targets at 1.1400 & 1.1425 in extension.

Alternative scenario: below 1.1340 look for further downside with 1.1315 & 1.1290 as targets.

Comment: the RSI is bullish and calls for further advance.

Our preference: long positions above 1.2925 with targets at 1.2985 & 1.3005 in extension.

Alternative scenario: below 1.2925 look for further downside with 1.2895 & 1.2860 as targets.

Comment: the RSI advocates for further upside.

Our preference: short positions below 0.9660 with targets at 0.9630 & 0.9615 in extension.

Alternative scenario: above 0.9660 look for further upside with 0.9685 & 0.9710 as targets.

Comment: as long as the resistance at 0.9660 is not surpassed, the risk of the break below 0.9630 remains high.

Our preference: short positions below 113.45 with targets at 112.80 & 112.40 in extension.

Alternative scenario: above 113.45 look for further upside with 113.70 & 114.00 as targets.

Comment: as long as 113.45 is resistance, look for choppy price action with a bearish bias.