EUR/USD: The downside prevails




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Pivot (invalidation): 1.0970

Our preference
Short positions below 1.0970 with targets at 1.0915 & 1.0900 in extension.

Alternative scenario
Above 1.0970 look for further upside with 1.1005 & 1.1030 as targets.

The RSI is bearish and calls for further downside.


GBP/USD: Key resistance at 1.2250


Pivot (invalidation): 1.2250

Our preference
Short positions below 1.2250 with targets at 1.2185 & 1.2150 in extension.

Alternative scenario
Above 1.2250 look for further upside with 1.2290 & 1.2325 as targets.

As Long as the resistance at 1.2250 is not surpassed, the risk of the break below 1.2185 remains high.


USD/JPY: Under pressure


Pivot (invalidation): 107.85

Our preference
Short positions below 107.85 with targets at 107.35 & 107.20 in extension.

Alternative scenario
Above 107.85 look for further upside with 108.00 & 108.15 as targets.

The RSI lacks upward momentum.

This report has been prepared by AC Markets 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 AC Markets personnel at any given time. ACM 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.

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