EUR/USD Intraday: 1.1100 expected
|EUR/USD
1.1100 expected.
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Pivot (invalidation): 1.1065
Our preference
Long positions above 1.1065 with targets at 1.1085 & 1.1100 in extension.
Alternative scenario
Below 1.1065 look for further downside with 1.1050 & 1.1035 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The pair keeps challenging the overhead resistance at 1.1085.
GBP/USD
Bullish bias above 1.2785.
Pivot (invalidation): 1.2785
Our preference
Long positions above 1.2785 with targets at 1.2870 & 1.2900 in extension.
Alternative scenario
Below 1.2785 look for further downside with 1.2740 & 1.2695 as targets.
Comment
Technically the RSI is above its neutrality area at 50. The pair is consolidating gains made above the key 1.2800 level.
USD/JPY
Turning up.
Pivot (invalidation): 108.60
Our preference
Long positions above 108.60 with targets at 108.90 & 109.00 in extension.
Alternative scenario
Below 108.60 look for further downside with 108.45 & 108.30 as targets.
Comment
A support base at 108.60 has formed and has allowed for a temporary stabilisation. The pair has swung back to levels above both 20-period and 50-period moving averages.
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