EURUSD Levels: Under pressure

EUR/USD

Under pressure.

EURUSD


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Pivot (invalidation): 1.1550

Our preference
Short positions below 1.1550 with targets at 1.1510 & 1.1490 in extension.

Alternative scenario
Above 1.1550 look for further upside with 1.1575 & 1.1600 as targets.

Comment
As Long as 1.1550 is resistance, look for choppy price action with a bearish bias.

 

GBP/USD

The downside prevails.

GBPUSD

Pivot (invalidation): 1.2860

Our preference
Short positions below 1.2860 with targets at 1.2800 & 1.2770 in extension.

Alternative scenario
Above 1.2860 look for further upside with 1.2900 & 1.2930 as targets.

Comment
The break below 1.2860 is a negative signal that has opened a path to 1.2800.

 

USD/JPY

Watch 110.85.

USDJPY

Pivot (invalidation): 111.20

Our preference
Short positions below 111.20 with targets at 110.85 & 110.70 in extension.

Alternative scenario
Above 111.20 look for further upside with 111.45 & 111.60 as targets.

Comment
A break below 110.85 would trigger a drop towards 110.70.

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.