Our preference: short positions below 1.1135 with targets @ 1.1030 & 1.0985 in extension.
Alternative scenario: above 1.1135 look for further upside with 1.1165 & 1.1220 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
GBP/USD Intraday: the downside prevails.
Pivot: 1.4290
Our preference: short positions below 1.4290 with targets @ 1.4130 & 1.4090 in extension.
Alternative scenario: above 1.4290 look for further upside with 1.4335 & 1.4370 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
USD/CHF Intraday: the upside prevails.
Pivot: 0.9800
Our preference: long positions above 0.9800 with targets @ 0.9895 & 0.9940 in extension.
Alternative scenario: below 0.9800 look for further downside with 0.9750 & 0.9725 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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: 114.15
Our preference: short positions below 114.15 with targets @ 112.70 & 112.20 in extension.
Alternative scenario: above 114.15 look for further upside with 114.55 & 115.00 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
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 15, 2016
