EUR/USD
Target 1.1245.
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Pivot (invalidation): 1.1190
Our preference
Long positions above 1.1190 with targets at 1.1230 & 1.1245 in extension.
Alternative scenario
Below 1.1190 look for further downside with 1.1175 & 1.1160 as targets.
Comment
A support base at 1.1190 has formed and has allowed for a temporary stabilisation.
GBP/USD
Further upside.
Pivot (invalidation): 1.2705
Our preference
Long positions above 1.2705 with targets at 1.2745 & 1.2760 in extension.
Alternative scenario
Below 1.2705 look for further downside with 1.2680 & 1.2655 as targets.
Comment
The break above 1.2705 is a positive signal that has opened a path to 1.2745.
USD/JPY
Rebound.
Pivot (invalidation): 109.25
Our preference
Long positions above 109.25 with targets at 109.70 & 109.95 in extension.
Alternative scenario
Below 109.25 look for further downside with 109.00 & 108.80 as targets.
Comment
The RSI calls for a rebound.
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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