Daily Insights Report 28/07/2017

Pivot: 1.1705

Our preference: short positions below 1.1705 with targets at 1.1650 & 1.1620 in extension.

Alternative scenario: above 1.1705 look for further upside with 1.1735 & 1.1775 as targets.

Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Pivot: 111.40

Our preference: short positions below 111.40 with targets at 110.80 & 110.50 in extension.

Alternative scenario: above 111.40 look for further upside with 111.70 & 111.95 as targets.

Comment: the upward potential is likely to be limited by the resistance at 111.40.

Pivot: 1.3125

Our preference: short positions below 1.3125 with targets at 1.3030 & 1.3000 in extension.

Alternative scenario: above 1.3125 look for further upside with 1.3160 & 1.3195 as targets.

Comment: as long as the resistance at 1.3125 is not surpassed, the risk of the break below 1.3030 remains high.

Pivot: 0.9595

Our preference: long positions above 0.9595 with targets at 0.9670 & 0.9700 in extension.

Alternative scenario: below 0.9595 look for further downside with 0.9560 & 0.9530 as targets.

Comment: technically the RSI is above its neutrality area at 50.

Pivot: 1.2485

Our preference: long positions above 1.2485 with targets at 1.2580 & 1.2610 in extension.

Alternative scenario: below 1.2485 look for further downside with 1.2455 & 1.2415 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Pivot: 0.8000

Our preference: short positions below 0.8000 with targets at 0.7955 & 0.7930 in extension.

Alternative scenario: above 0.8000 look for further upside with 0.8030 & 0.8065 as targets.

Comment: a break below 0.7955 would trigger a drop towards 0.7930.

Pivot: 0.7520

Our preference: short positions below 0.7520 with targets at 0.7475 & 0.7450 in extension.

Alternative scenario: above 0.7520 look for further upside with 0.7560 & 0.7590 as targets.

Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.