Forex Daily Technical Analysis Of Major Currency Pairs
Contributor Since 2012
Summary
- USD/JPYEUR/USDGBP/USDAUD/USD.
- USD/JPY.
- EUR/USD.
Forex Daily Technical Analysis of Major Currency Pairs Pre US Open
(Date - May 16, 2016)
EUR/USD Intra day:
The downside will prevail.
Most Likely Scenario: Expect short positions below 1.1365 with targets @ 1.1280 & 1.1245 in extension.
Alternative scenario: If goes above 1. 1365 look for further upside with 1.1390 & 1.1415 as targets.
GBP/USD Intra day:
The downside will prevail.
Most Likely Scenario: Expect short positions below 1.4425 with targets @ 1.4320 & 1.4285 in extension.
Alternative scenario: If goes above 1. 4425 look for further upside with 1.4465 & 1.4490 as targets.
USD/JPY Intra day:
The upside will prevail.
Most Likely Scenario: Expect long positions above 108.20 with targets @ 109.40 & 109.90 in extension.
Alternative scenario: If goes below 108.20 look for further downside with 107.40 & 107.00 as targets.
AUD/USD Intra day:
The downside will prevail.
Most Likely Scenario: Expect short positions below 0.7310 with targets @ 0.7245 & 0.7220 in extension.
Alternative scenario: If goes above 0.7310 look for further upside with 0.7335 & 0.7370 as targets.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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