Our preference: long positions above 1.1115 with targets @ 1.1170 & 1.1185 in extension.
Alternative scenario: below 1.1115 look for further downside with 1.1095 & 1.1070 as targets.
Comment: the RSI advocates for further advance.
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: 1.4510
Our preference: short positions below 1.4510 with targets @ 1.4420 & 1.4375 in extension.
Alternative scenario: above 1.4510 look for further upside with 1.4550 & 1.4580 as targets.
Comment: the RSI shows downside 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: turning down.
Pivot: 0.9955
Our preference: short positions below 0.9955 with targets @ 0.9885 & 0.9870 in extension.
Alternative scenario: above 0.9955 look for further upside with 0.9975 & 0.9990 as targets.
Comment: the RSI advocates for further decline.
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: 110.40
Our preference: short positions below 110.40 with targets @ 109.05 & 108.70 in extension.
Alternative scenario: above 110.40 look for further upside with 110.90 & 111.25 as targets.
Comment: the RSI is capped by a declining trend line.
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.
