Our preference: short positions below 1.1325 with targets @ 1.1285 & 1.1270 in extension.
Alternative scenario: above 1.1325 look for further upside with 1.1350 & 1.1390 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: caution.
Pivot: 1.4385
Our preference: short positions below 1.4385 with targets @ 1.4315 & 1.4285 in extension.
Alternative scenario: above 1.4385 look for further upside with 1.4420 & 1.4460 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
USD/CHF Intraday: the upside prevails.
Pivot: 0.9680
Our preference: long positions above 0.9680 with targets @ 0.9735 & 0.9760 in extension.
Alternative scenario: below 0.9680 look for further downside with 0.9645 & 0.9620 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
USD/JPY Intraday: the bias remains bullish.
Pivot: 109.15
Our preference: long positions above 109.15 with targets @ 109.90 & 110.15 in extension.
Alternative scenario: below 109.15 look for further downside with 108.75 & 108.50 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.
Daily Technical Analysis – April 21, 2016
