Swissquote Bank Research Team
Swissquote Bank Ltd
EUR/USD
The downside prevails.
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Pivot (invalidation): 1.1440
Our preference
Short positions below 1.1440 with targets at 1.1340 & 1.1300 in extension.
Alternative scenario
Above 1.1440 look for further upside with 1.1485 & 1.1535 as targets.
Comment
The RSI lacks upward momentum.
GBP/USD
Target 1.2720.
Pivot (invalidation): 1.2790
Our preference
Short positions below 1.2790 with targets at 1.2720 & 1.2680 in extension.
Alternative scenario
Above 1.2790 look for further upside with 1.2835 & 1.2880 as targets.
Comment
As Long as the resistance at 1.2790 is not surpassed, the risk of the break below 1.2720 remains high.
USD/JPY
The downside prevails.
Pivot (invalidation): 110.70
Our preference
Short positions below 110.70 with targets at 110.05 & 109.65 in extension.
Alternative scenario
Above 110.70 look for further upside with 111.00 & 111.20 as targets.
Comment
A break below 110.05 would trigger a drop towards 109.65.
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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