EURUSD Levels: Under pressure
|EUR/USD
Under pressure.
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Pivot (invalidation): 1.1550
Our preference
Short positions below 1.1550 with targets at 1.1510 & 1.1490 in extension.
Alternative scenario
Above 1.1550 look for further upside with 1.1575 & 1.1600 as targets.
Comment
As Long as 1.1550 is resistance, look for choppy price action with a bearish bias.
The downside prevails.
Pivot (invalidation): 1.2860
Our preference
Short positions below 1.2860 with targets at 1.2800 & 1.2770 in extension.
Alternative scenario
Above 1.2860 look for further upside with 1.2900 & 1.2930 as targets.
Comment
The break below 1.2860 is a negative signal that has opened a path to 1.2800.
USD/JPY
Watch 110.85.
Pivot (invalidation): 111.20
Our preference
Short positions below 111.20 with targets at 110.85 & 110.70 in extension.
Alternative scenario
Above 111.20 look for further upside with 111.45 & 111.60 as targets.
Comment
A break below 110.85 would trigger a drop towards 110.70.
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