EURGBP Levels: Further advance

EUR/GBP

Further advance.

EURGBP


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Pivot (invalidation): 0.8835

Our preference
Long positions above 0.8835 with targets at 0.8860 & 0.8870 in extension.

Alternative scenario
Below 0.8835 look for further downside with 0.8820 & 0.8810 as targets.

Comment
The RSI shows upside momentum.

 

EUR/CHF

Below its lower Bollinger band

EURCHF

1.1705 is our pivot (invalidation) point.

Our preference
target 1.1655.

Alternative scenario
Above 1.1705, look for 1.1723 and 1.1734.

Comment
The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 MA (1.1696) but above its 50 MA (1.1671). Finally, the EUR/CHF is trading below its lower Bollinger band (standing at 1.1688).

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.