DAX Intraday: continuation of the rebound

Swissquote Bank Research Team Swissquote Bank Ltd

DAX

Continuation of the rebound

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Pivot (invalidation): 11530.00

Our preference
Long positions above 11530.00 with targets at 11840.00 & 11930.00 in extension.

Alternative scenario
Below 11530.00 look for further downside with 11440.00 & 11350.00 as targets.

Comment
The RSI is bullish and calls for further advance.

SP500

Bullish bias above 2890.00

Pivot (invalidation): 2890.00

Our preference
Long positions above 2890.00 with targets at 2942.00 & 2980.00 in extension.

Alternative scenario
Below 2890.00 look for further downside with 2864.00 & 2825.25 as targets.

Comment
The RSI advocates for further advance.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.