Daily Technical Analysis – June 20, 2016

Our preference: long positions above 1.1300 with targets @ 1.1390 & 1.1415 in extension.

Alternative scenario: below 1.1300 look for further downside with 1.1265 & 1.1215 as targets.

Comment: the RSI lacks downward momentum.

Our preference: long positions above 1.4505 with targets @ 1.4670 & 1.4740 in extension.

Alternative scenario: below 1.4505 look for further downside with 1.4430 & 1.4350 as targets.

Comment: the RSI shows upside momentum.

Our preference: short positions below 0.9640 with targets @ 0.9565 & 0.9545 in extension.

Alternative scenario: above 0.9640 look for further upside with 0.9660 & 0.9685 as targets.

Comment: the RSI lacks upward momentum.

Our preference: short positions below 105.00 with targets @ 104.05 & 103.70 in extension.

Alternative scenario: above 105.00 look for further upside with 105.60 & 106.00 as targets.

Comment: the upward potential is likely to be limited by the resistance at 105.00.