Our preference: long positions above 1.1325 with targets @ 1.1400 & 1.1430 in extension.
Alternative scenario: below 1.1325 look for further downside with 1.1290 & 1.1270 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: bullish bias above 1.4340.
Pivot: 1.4340
Our preference: long positions above 1.4340 with targets @ 1.4425 & 1.4460 in extension.
Alternative scenario: below 1.4340 look for further downside with 1.4285 & 1.4240 as targets.
Comment: the RSI is well directed.
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: 0.9640
Our preference: short positions below 0.9640 with targets @ 0.9580 & 0.9560 in extension.
Alternative scenario: above 0.9640 look for further upside with 0.9660 & 0.9685 as targets.
Comment: as long as 0.9640 is resistance, look for choppy price action with a bearish bias.
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: 108.70
Our preference: long positions above 108.70 with targets @ 109.45 & 109.75 in extension.
Alternative scenario: below 108.70 look for further downside with 108.50 & 108.10 as targets.
Comment: the RSI is well directed.
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 – April 20, 2016
