EUR/USD Intraday: capped by a negative trend line

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Capped by a negative trend line

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Pivot (invalidation): 1.1095

Our preference
Short positions below 1.1095 with targets at 1.1070 & 1.1050 in extension.

Alternative scenario
Above 1.1095 look for further upside with 1.1115 & 1.1135 as targets.

Comment
As Long as the resistance at 1.1095 is not surpassed, the risk of the break below 1.1070 remains high.

GBP/USD

1.2155 expected

Pivot (invalidation): 1.2230

Our preference
Short positions below 1.2230 with targets at 1.2190 & 1.2155 in extension.

Alternative scenario
Above 1.2230 look for further upside with 1.2255 & 1.2280 as targets.

Comment
A break below 1.2190 would trigger a drop towards 1.2155.

USD/JPY

Turning down

Pivot (invalidation): 106.20

Our preference
Short positions below 106.20 with targets at 105.60 & 105.35 in extension.

Alternative scenario
Above 106.20 look for further upside with 106.50 & 106.75 as targets.

Comment
The RSI shows downside momentum.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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