Our preference: long positions above 1.1295 with targets @ 1.1380 & 1.1420 in extension.
Alternative scenario: below 1.1295 look for further downside with 1.1270 & 1.1245 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
GBP/USD Intraday: intraday support around 1.4520.
Pivot: 1.4520
Our preference: long positions above 1.4520 with targets @ 1.4640 & 1.4670 in extension.
Alternative scenario: below 1.4520 look for further downside with 1.4465 & 1.4410 as targets.
Comment: the RSI lacks downward 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: under pressure.
Pivot: 0.9740
Our preference: short positions below 0.9740 with targets @ 0.9645 & 0.9620 in extension.
Alternative scenario: above 0.9740 look for further upside with 0.9765 & 0.9800 as targets.
Comment: the RSI is badly 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/JPY Intraday: the downside prevails.
Pivot: 109.35
Our preference: short positions below 109.35 with targets @ 107.80 & 107.60 in extension.
Alternative scenario: above 109.35 look for further upside with 109.90 & 110.65 as targets.
Comment: the RSI has broken down its 30 level.
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 28, 2016
