Swissquote Bank Research Team
Swissquote Bank Ltd
EUR/USD
Bullish bias above 1.1135.
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Pivot (invalidation): 1.1135
Our preference
Long positions above 1.1135 with targets at 1.1180 & 1.1205 in extension.
Alternative scenario
Below 1.1135 look for further downside with 1.1115 & 1.1100 as targets.
Comment
A support base at 1.1135 has formed and has allowed for a temporary stabilisation. The RSI shows that the pair lacks downward momentum.
GBP/USD
Under pressure.
Pivot (invalidation): 1.2950
Our preference
Short positions below 1.2950 with targets at 1.2870 & 1.2835 in extension.
Alternative scenario
Above 1.2950 look for further upside with 1.2990 & 1.3025 as targets.
Comment
As Long as the resistance at 1.2950 is not surpassed, the risk of the break below 1.2870 remains high. The pair has crossed below a bullish trend line in place since October 14.
USD/JPY
Turning up.
Pivot (invalidation): 108.30
Our preference
Long positions above 108.30 with targets at 108.60 & 108.70 in extension.
Alternative scenario
Below 108.30 look for further downside with 108.15 & 108.00 as targets.
Comment
The RSI calls for a rebound. The pair has swung to the upper Bollinger band from the lower one.
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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