EUR/USD Intraday: the downside prevails
|EUR/USD
The downside prevails.
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Pivot (invalidation): 1.1155
Our preference
Short positions below 1.1155 with targets at 1.1120 & 1.1110 in extension.
Alternative scenario
Above 1.1155 look for further upside with 1.1170 & 1.1185 as targets.
Comment
The RSI shows downside momentum.
GBP/USD
Key resistance at 1.3150.
Pivot (invalidation): 1.3150
Our preference
Short positions below 1.3150 with targets at 1.3040 & 1.3000 in extension.
Alternative scenario
Above 1.3150 look for further upside with 1.3210 & 1.3255 as targets.
Comment
As Long as 1.3150 is resistance, look for choppy price action with a bearish bias.
USD/JPY
Under pressure.
Pivot (invalidation): 109.55
Our preference
Short positions below 109.55 with targets at 109.25 & 109.10 in extension.
Alternative scenario
Above 109.55 look for further upside with 109.70 & 109.85 as targets.
Comment
The RSI lacks upward momentum.
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