Forex Daily Analysis (2015.10.21)

Forex Daily Analysis (2015.10.21)

Source: Orbex Forex Broker (Review and Forex Cashback Up to 85%)

EUR/USD Intraday: key resistance at 1.1395.

Pivot: 1.1395

Our preference: Short positions below 1.1395 with targets @ 1.1305 & 1.1265 in extension.

Alternative scenario: Above 1.1395 look for further upside with 1.145 & 1.1495 as targets.

Comment: As long as 1.1395 is resistance, look for choppy price action with a bearish bias.

EUR/USD Chart

USD/CHF Intraday: under pressure.

Pivot: 0.9585

Our preference: Short positions below 0.9585 with targets @ 0.9525 & 0.95 in extension.

Alternative scenario: Above 0.9585 look for further upside with 0.9615 & 0.9645 as targets.

Comment: The RSI is mixed to bearish.

USD/CHF Chart

GBP/USD Intraday: the bias remains bullish.

Pivot: 1.541

Our preference: Long positions above 1.541 with targets @ 1.5465 & 1.551 in extension.

Alternative scenario: Below 1.541 look for further downside with 1.537 & 1.5325 as targets.

Comment: The next resistances are at 1.5465 and then at 1.551.

GBP/USD Chart