Our preference: short positions below 1.1385 with targets @ 1.1310 & 1.1280 in extension.
Alternative scenario: above 1.1385 look for further upside with 1.1415 & 1.1435 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
GBP/USD Intraday: the downside prevails.
Pivot: 1.4170
Our preference: short positions below 1.4170 with targets @ 1.4005 & 1.3945 in extension.
Alternative scenario: above 1.4170 look for further upside with 1.4245 & 1.4325 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/CHF Intraday: bullish bias above 0.9550.
Pivot: 0.9550
Our preference: long positions above 0.9550 with targets @ 0.9625 & 0.9650 in extension.
Alternative scenario: below 0.9550 look for further downside with 0.9525 & 0.9500 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/JPY Intraday: the downside prevails.
Pivot: 111.05
Our preference: short positions below 111.05 with targets @ 109.90 & 109.50 in extension.
Alternative scenario: above 111.05 look for further upside with 111.40 & 111.75 as targets.
Comment: the RSI lacks upward 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
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 6, 2016
