Daily Technical Analysis and Forex tips 12 May 2016

Daily Technical Analysis and Forex tips 12 May 2016
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Explore daily forex research, the powerful analysis and trade ideas solution of US Dollar, Euro, Japanese Yen, British Pound Sterling, Swiss Franc, Canadian Dollar and Australian Dollar. Read forex tips of 12 May 2016

EUR/USD Intraday: turning down

Our preference for short positions below 1.1430 with targets at 1.1375 & 1.1360 in extension. Alternative scenario is above 1.1430 look for further upside with 1.1445 & 1.1465 as targets.

GBP/USD Intraday: key resistance at 1.4490

Our preference is short positions below 1.4490 with targets at 1.4405 & 1.4370 in extension. Alternative scenario is above 1.4490 look for further upside with 1.4525 & 1.4555 as targets.

USD/CHF Intraday: under pressure

Our preference short positions below 0.9745 with targets at 0.9680 & 0.9655 in extension. Alternative scenario is above 0.9745 look for further upside with 0.9765 & 0.9795 as targets.

USD/JPY Intraday: further upside

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: key resistance at 1.2905

Our preference short positions below 1.2905 with targets at 1.2825 & 1.2780 in extension. Alternative scenario is above 1.2905 look for further upside with 1.2945 & 1.2980 as targets.

AUD/USD Intraday: the downside prevails

Our preference short positions below 0.7380 with targets at 0.7295 & 0.7260 in extension. Alternative scenario is above 0.7380 look for further upside with 0.7400 & 0.7450 as targets.

 

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