Daily Technical Analysis and Forex tips 11 May 2016

Daily Technical Analysis and Forex tips 11 May 2016
Daily Technical Analysis and Forex tips 11 May 2016
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Read Daily market analysis of 11th May, Fx news, Forex tips and technical analysis of US Dollar, Euro, Japanese Yen, British Pound Sterling, Swiss Franc, Canadian Dollar and Australian Dollar

EUR/USD Intraday: rebound

Our preference for long positions above 1.1380 with targets at 1.1445 & 1.1480 in extension. Alternative scenario is below 1.1380 look for further downside with 1.1360 & 1.1340 as targets.

GBP/USD Intraday: the downside prevails

Our preference is short positions below 1.4480 with targets at 1.4370 & 1.4310 in extension. Alternative scenario is above 1.4480 look for further upside with 1.4530 & 1.4575 as targets.

USD/CHF Intraday: turning down

Our preference short positions below 0.9765 with targets at 0.9680 & 0.9655 in extension. Alternative scenario is above 0.9765 look for further upside with 0.9795 & 0.9840 as targets.

USD/JPY Intraday: intraday support around 108.20

Our preference is long positions above 108.20 with targets at 109.40 & 109.90 in extension. Alternative scenario is below 108.20 look for further downside with 107.40 & 107.00 as targets.

USD/CAD Intraday: under pressure

Our preference short positions below 1.2980 with targets at 1.2830 & 1.2780 in extension. Alternative scenario is above 1.2980 look for further upside with 1.3020 & 1.3080 as targets.

AUD/USD Intraday: the upside prevails

Our preference long positions above 0.7325 with targets at 0.7385 & 0.7415 in extension. Alternative scenario is below 0.7325 look for further downside with 0.7295 & 0.7260 as targets.

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