Our preference: short positions below 1.1255 with targets @ 1.1160 & 1.1135 in extension.
Alternative scenario: above 1.1255 look for further upside with 1.1300 & 1.1320 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
GBP/USD Intraday: turning down.
Pivot: 1.4230
Our preference: short positions below 1.4230 with targets @ 1.4085 & 1.4050 in extension.
Alternative scenario: above 1.4230 look for further upside with 1.4285 & 1.4325 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: rebound.
Pivot: 0.9590
Our preference: long positions above 0.9590 with targets @ 0.9680 & 0.9715 in extension.
Alternative scenario: below 0.9590 look for further downside with 0.9570 & 0.9550 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
USD/JPY Intraday: key resistance at 105.60.
Pivot: 105.60
Our preference: short positions below 105.60 with targets @ 103.40 & 102.70 in extension.
Alternative scenario: above 105.60 look for further upside with 106.00 & 106.40 as targets.
Comment: the RSI is mixed to bearish.
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.
