Our preference: short positions below 1.1270 with targets @ 1.1215 & 1.1180 in extension.
Alternative scenario: above 1.1270 look for further upside with 1.1310 & 1.1345 as targets.
Comment: as long as the resistance at 1.1270 is not surpassed, the risk of the break below 1.1215 remains high.
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: further advance.
Pivot: 1.4365
Our preference: long positions above 1.4365 with targets @ 1.4505 & 1.4570 in extension.
Alternative scenario: below 1.4365 look for further downside with 1.4315 & 1.4285 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: bullish bias above 0.9725.
Pivot: 0.9725
Our preference: long positions above 0.9725 with targets @ 0.9800 & 0.9845 in extension.
Alternative scenario: below 0.9725 look for further downside with 0.9695 & 0.9645 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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: bullish bias above 110.75.
Pivot: 110.75
Our preference: long positions above 110.75 with targets @ 111.80 & 112.45 in extension.
Alternative scenario: below 110.75 look for further downside with 110.25 & 109.90 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 25, 2016
