Daily Technical Analysis – May 20, 2016

Our preference: short positions below 1.1255 with targets @ 1.1175 & 1.1140 in extension.

Alternative scenario: above 1.1255 look for further upside with 1.1290 & 1.1325 as targets.

Comment: as long as the resistance at 1.1255 is not surpassed, the risk of the break below 1.1175 remains high.

Our preference: short positions below 1.4635 with targets @ 1.4520 & 1.4465 in extension.

Alternative scenario: above 1.4635 look for further upside with 1.4665 & 1.4710 as targets.

Comment: the RSI advocates for further decline.

Our preference: long positions above 0.9860 with targets @ 0.9950 & 0.9980 in extension.

Alternative scenario: below 0.9860 look for further downside with 0.9805 & 0.9775 as targets.

Comment: the RSI is mixed to bullish.

Our preference: long positions above 109.65 with targets @ 110.50 & 111.00 in extension.

Alternative scenario: below 109.65 look for further downside with 109.25 & 108.65 as targets.

Comment: the RSI advocates for further advance.