Swissquote Bank Research Team
Swissquote Bank Ltd
EUR/USD
Capped by a negative trend line
Stay on top of the markets with Swissquote’s News & Analysis
Pivot (invalidation): 1.1115
Our preference
Short positions below 1.1115 with targets at 1.1090 & 1.1075 in extension.
Alternative scenario
Above 1.1115 look for further upside with 1.1130 & 1.1155 as targets.
Comment
A break below 1.1090 would trigger a drop towards 1.1075.
GBP/USD
Towards 1.2060
Pivot (invalidation): 1.2100
Our preference
Short positions below 1.2100 with targets at 1.2075 & 1.2060 in extension.
Alternative scenario
Above 1.2100 look for further upside with 1.2120 & 1.2135 as targets.
Comment
The RSI advocates for further decline.
USD/JPY
Aim @ 106.60
Pivot (invalidation): 105.90
Our preference
Long positions above 105.90 with targets at 106.35 & 106.60 in extension.
Alternative scenario
Below 105.90 look for further downside with 105.70 & 105.50 as targets.
Comment
The RSI is bullish and calls for further upside.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
Recommended Content
Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.