Swissquote Bank Research Team
Swissquote Bank Ltd
EUR/USD
Limited upside.
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Pivot (invalidation): 1.1575
Our preference
Long positions above 1.1575 with targets at 1.1605 & 1.1620 in extension.
Alternative scenario
Below 1.1575 look for further downside with 1.1555 & 1.1525 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
GBP/USD
The bias remains bullish.
Pivot (invalidation): 1.2980
Our preference
Long positions above 1.2980 with targets at 1.3045 & 1.3085 in extension.
Alternative scenario
Below 1.2980 look for further downside with 1.2945 & 1.2900 as targets.
Comment
A support base at 1.2980 has formed and has allowed for a temporary stabilisation.
USD/JPY
Caution.
Pivot (invalidation): 111.40
Our preference
Long positions above 111.40 with targets at 111.65 & 111.75 in extension.
Alternative scenario
Below 111.40 look for further downside with 111.25 & 111.05 as targets.
Comment
Intraday technical indicators are mixed and call for caution.
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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