EUR/USD: Under pressure




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Pivot (invalidation): 1.1825

Our preference
Short positions below 1.1825 with targets at 1.1790 & 1.1775 in extension.

Alternative scenario
Above 1.1825 look for further upside with 1.1850 & 1.1865 as targets.

As Long as the resistance at 1.1825 is not surpassed, the risk of the break below 1.1790 remains high.


GBP/USD: Watch 1.3020


Pivot (invalidation): 1.3080

Our preference
Short positions below 1.3080 with targets at 1.3040 & 1.3020 in extension.

Alternative scenario
Above 1.3080 look for further upside with 1.3100 & 1.3125 as targets.

A break below 1.3040 would trigger a drop towards 1.3020.


USD/JPY: The bias remains bullish


Pivot (invalidation): 106.75

Our preference
Long positions above 106.75 with targets at 107.05 & 107.15 in extension.

Alternative scenario
Below 106.75 look for further downside with 106.55 & 106.40 as targets.

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

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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