Daily Technical Analysis – May 9, 2016

Our preference: short positions below 1.1445 with targets @ 1.1370 & 1.1310 in extension.

Alternative scenario: above 1.1445 look for further upside with 1.1480 & 1.1510 as targets.

Comment: a break below 1.1370 would trigger a drop towards 1.1310.

Our preference: short positions below 1.4480 with targets @ 1.4365 & 1.4310 in extension.

Alternative scenario: above 1.4480 look for further upside with 1.4530 & 1.4575 as targets.

Comment: the RSI lacks upward momentum.

Our preference: long positions above 0.9655 with targets @ 0.9735 & 0.9765 in extension.

Alternative scenario: below 0.9655 look for further downside with 0.9620 & 0.9570 as targets.

Comment: the RSI lacks downward momentum.

Our preference: long positions above 107.00 with targets @ 108.70 & 109.25 in extension.

Alternative scenario: below 107.00 look for further downside with 106.50 & 106.10 as targets.

Comment: the RSI is well directed.