Our preference: short positions below 1.1280 with targets @ 1.1180 & 1.1135 in extension.
Alternative scenario: above 1.1280 look for further upside with 1.1305 & 1.1335 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
GBP/USD Intraday: intraday support around 1.4110.
Pivot: 1.4110
Our preference: long positions above 1.4110 with targets @ 1.4215 & 1.4285 in extension.
Alternative scenario: below 1.4110 look for further downside with 1.4050 & 1.4005 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: the upside prevails.
Pivot: 0.9605
Our preference: long positions above 0.9605 with targets @ 0.9670 & 0.9690 in extension.
Alternative scenario: below 0.9605 look for further downside with 0.9570 & 0.9530 as targets.
Comment: the RSI shows upside 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/JPY Intraday: under pressure.
Pivot: 106.65
Our preference: short positions below 106.65 with targets @ 105.50 & 105.00 in extension.
Alternative scenario: above 106.65 look for further upside with 107.20 & 107.45 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
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.
