Our preference: long positions above 1.1080 with targets @ 1.1165 & 1.1220 in extension.
Alternative scenario: below 1.1080 look for further downside with 1.1030 & 1.0985 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
GBP/USD Intraday: the upside prevails.
Pivot: 1.4315
Our preference: long positions above 1.4315 with targets @ 1.4390 & 1.4440 in extension.
Alternative scenario: below 1.4315 look for further downside with 1.4250 & 1.4180 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: 0.9790
Our preference: long positions above 0.9790 with targets @ 0.9895 & 0.9940 in extension.
Alternative scenario: below 0.9790 look for further downside with 0.9750 & 0.9725 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: bullish bias above 113.30.
Pivot: 113.30
Our preference: long positions above 113.30 with targets @ 114.25 & 114.55 in extension.
Alternative scenario: below 113.30 look for further downside with 112.70 & 112.20 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
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.
