Our preference: short positions below 1.0955 with targets @ 1.0850 & 1.0820 in extension.
Alternative scenario: above 1.0955 look for further upside with 1.1000 & 1.1030 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: under pressure.
Pivot: 1.4240
Our preference: short positions below 1.4240 with targets @ 1.4130 & 1.4070 in extension.
Alternative scenario: above 1.4240 look for further upside with 1.4275 & 1.4335 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
USD/CHF Intraday: rebound.
Pivot: 0.9940
Our preference: long positions above 0.9940 with targets @ 1.0040 & 1.0070 in extension.
Alternative scenario: below 0.9940 look for further downside with 0.9900 & 0.9875 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 upside prevails.
Pivot: 113.00
Our preference: long positions above 113.00 with targets @ 114.25 & 114.50 in extension.
Alternative scenario: below 113.00 look for further downside with 112.70 & 112.20 as targets.
Comment: The pair has broken above the upper boundary of a bearish channel.
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 – March 10, 2016
