Pivot: 1.365
Our preference: Long positions above 1.365 with targets @ 1.3835 & 1.3915 in extension.
Alternative scenario: Below 1.365 look for further downside with 1.358 & 1.3525 as targets.
Comment: the RSI has just landed on a support around 30% and is reversing up.
Pivot: 1.37
Our preference: Long positions above 1.37 with targets @ 1.383 & 1.389 in extension.
Alternative scenario: Below 1.37 look for further downside with 1.3655 & 1.3615 as targets.
Comment: the RSI is bullish and calls for further upside.
Pivot: 1.3830.
Our Preference: SHORT positions @ 1.382 with targets @ 1.372 & 1.3685.
Alternative scenario: The upside penetration of 1.383 will call for a rebound towards 1.39 & 1.394.
Comment: the RSI is capped by a declining trend line, the pair remains under pressure and is challenging its support.
Trend: ST Consolidation; MT Bearish
Pivot: 1.385
Our preference: Short positions below 1.385 with targets @ 1.3725 & 1.3685 in extension.
Alternative scenario: Above 1.385 look for further upside with 1.39 & 1.394 as targets.
Comment: the pair has broken below a rising trend line and should face further weakness as the RSI is badly directed.
Pivot: 1.383
Our preference: Short positions below 1.383 with targets @ 1.3725 & 1.37 in extension.
Alternative scenario: Above 1.383 look for further upside with 1.3875 & 1.395 as targets.
Comment: the pair is challenging its declining trend line.
Pivot: 1.357
Our preference: Long positions above 1.357 with targets @ 1.37 & 1.376 in extension.
Alternative scenario: Below 1.357 look for further downside with 1.352 & 1.345 as targets.
Comment: the RSI is supported by a bullish trend line.
