Daily Insights Report 26/07/2017

Pivot: 1.1680

Our preference: short positions below 1.1680 with targets at 1.1630 & 1.1585 in extension.

Alternative scenario: above 1.1680 look for further upside with 1.1710 & 1.1750 as targets.

Comment: the RSI lacks upward momentum.

Pivot: 111.55

Our preference: long positions above 111.55 with targets at 112.10 & 112.40 in extension.

Alternative scenario: below 111.55 look for further downside with 111.30 & 111.00 as targets.

Comment: the RSI is bullish and calls for further advance.

Pivot: 1.3010

Our preference: long positions above 1.3010 with targets at 1.3055 & 1.3085 in extension.

Alternative scenario: below 1.3010 look for further downside with 1.2985 & 1.2960 as targets.

Comment: a support base at 1.3010 has formed and has allowed for a temporary stabilisation.

Pivot: 0.9485

Our preference: long positions above 0.9485 with targets at 0.9540 & 0.9570 in extension.

Alternative scenario: below 0.9485 look for further downside with 0.9455 & 0.9435 as targets.

Comment: the RSI is bullish and calls for further upside.

Pivot: 1.2530

Our preference: short positions below 1.2530 with targets at 1.2485 & 1.2445 in extension.

Alternative scenario: above 1.2530 look for further upside with 1.2555 & 1.2600 as targets.

Comment: a break below 1.2485 would trigger a drop towards 1.2445.

Pivot: 0.7920

Our preference: long positions above 0.7920 with targets at 0.7950 & 0.7970 in extension.

Alternative scenario: below 0.7920 look for further downside with 0.7900 & 0.7875 as targets.

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

Pivot: 0.7445

Our preference: short positions below 0.7445 with targets at 0.7400 & 0.7380 in extension.

Alternative scenario: above 0.7445 look for further upside with 0.7460 & 0.7480 as targets.

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