Swissquote Bank Research Team
Swissquote Bank Ltd
EUR/USD
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Pivot (invalidation): 1.1290
Our preference
Long positions above 1.1290 with targets at 1.1325 & 1.1345 in extension.
Alternative scenario
Below 1.1290 look for further downside with 1.1275 & 1.1260 as targets.
Comment
The RSI has just landed on its neutrality area at 50% and is turning up.
GBP/USD
Continuation of the rebound.
Pivot (invalidation): 1.3080
Our preference
Long positions above 1.3080 with targets at 1.3110 & 1.3135 in extension.
Alternative scenario
Below 1.3080 look for further downside with 1.3065 & 1.3050 as targets.
Comment
The break above 1.3080 is a positive signal that has opened a path to 1.3110.
USD/JPY
Bullish bias above 111.85.
Pivot (invalidation): 111.85
Our preference
Long positions above 111.85 with targets at 112.10 & 112.20 in extension.
Alternative scenario
Below 111.85 look for further downside with 111.65 & 111.50 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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.
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