Our preference: short positions below 1.1000 with targets @ 1.0925 & 1.0890 in extension.
Alternative scenario: above 1.1000 look for further upside with 1.1040 & 1.1070 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 upside prevails.
Pivot: 1.4095
Our preference: long positions above 1.4095 with targets @ 1.4195 & 1.4255 in extension.
Alternative scenario: below 1.4095 look for further downside with 1.4020 & 1.3980 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: 0.9950
Our preference: long positions above 0.9950 with targets @ 1.0010 & 1.0035 in extension.
Alternative scenario: below 0.9950 look for further downside with 0.9905 & 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 bias remains bullish.
Pivot: 113.20
Our preference: long positions above 113.20 with targets @ 113.80 & 114.25 in extension.
Alternative scenario: below 113.20 look for further downside with 112.85 & 112.50 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.
Daily Technical Analysis – March 7, 2016
