Daily Technical Analysis and Forex tips 7 February 2017

Daily Technical Analysis, Market Analysis and Forex tips 7 February 2017 of Euro, US dollar, British pound, Swiss franc, Japanese yen, Canadian dollar and Australian dollar

EUR/USD Intraday: continuation of the rebound

Our preference for long positions above 1.0570 with targets at 1.0605 & 1.0620 in extension. Alternative scenario is below 1.0570 look for further downside with 1.0540 & 1.0510 as targets.

GBP/USD Intraday: key resistance at 1.2280

Our preference is short positions below 1.2280 with targets at 1.2220 & 1.2200 in extension. Alternative scenario is above 1.2280 look for further upside with 1.2300 & 1.2330 as targets.

USD/CHF Intraday: the bias remains bullish

Our preference long positions above 1.0090 with targets at 1.0130 & 1.0150 in extension. Alternative scenario is below 1.0090 look for further downside with 1.0070 & 1.0050 as targets.

USD/JPY Intraday: key resistance at 114.10

Our preference is short positions below 114.10 with targets at 113.80 & 113.55 in extension. Alternative scenario is above 114.10 look for further upside with 114.35 & 114.65 as targets.

USD/CAD Intraday: caution

Our preference long positions above 1.3375 with targets at 1.3425 & 1.3455 in extension. Alternative scenario is below 1.3375 look for further downside with 1.3355 & 1.3320 as targets.

AUD/USD Intraday: further advance

Our preference long positions above 0.7570 with targets at 0.7640 & 0.7665 in extension. Alternative scenario is below 0.7570 look for further downside with 0.7545 & 0.7520 as targets.

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