Daily Technical Analysis, Market Analysis and Forex tips 16 May 2016 of Euro, US dollar, British pound, Swiss franc, Japanese yen, Canadian dollar and Australian dollar
EUR/USD Intraday: key resistance at 1.1365
Our preference for short positions below 1.1365 with targets at 1.1280 & 1.1245 in extension. Alternative scenario is above 1.1365 look for further upside with 1.1390 & 1.1415 as targets.
GBP/USD Intraday: key resistance at 1.4425
Our preference is short positions below 1.4425 with targets at 1.4320 & 1.4285 in extension. Alternative scenario is above 1.4425 look for further upside with 1.4465 & 1.4490 as targets.
USD/CHF Intraday: intraday support around 0.9700
Our preference long positions above 0.9700 with targets at 0.9795 & 0.9850 in extension. Alternative scenario is below 0.9700 look for further downside with 0.9660 & 0.9625 as targets.
USD/JPY Intraday: bullish bias above 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: turning down
Our preference short positions below 1.2980 with targets at 1.2840 & 1.2810 in extension. Alternative scenario is above 1.2980 look for further upside with 1.3020 & 1.3070 as targets.
AUD/USD Intraday: caution
Our preference short positions below 0.7310 with targets at 0.7245 & 0.7220 in extension. Alternative scenario is above 0.7310 look for further upside with 0.7335 & 0.7370 as targets.
