EUR/USD

The downside prevails.

EURUSD

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Pivot (invalidation): 1.1405

Our preference
Short positions below 1.1405 with targets at 1.1370 & 1.1350 in extension.

Alternative scenario
Above 1.1405 look for further upside with 1.1430 & 1.1455 as targets.

Comment
As Long as 1.1405 is resistance, look for choppy price action with a bearish bias.

 

GBP/USD

Bullish bias above 1.2950.

GBPUSD

Pivot (invalidation): 1.2950

Our preference
Long positions above 1.2950 with targets at 1.3050 & 1.3090 in extension.

Alternative scenario
Below 1.2950 look for further downside with 1.2905 & 1.2855 as targets.

Comment
A support base at 1.2950 has formed and has allowed for a temporary stabilisation.

 

USD/JPY

Aim @ 113.60.

USDJPY

Pivot (invalidation): 112.90

Our preference
Long positions above 112.90 with targets at 113.35 & 113.60 in extension.

Alternative scenario
Below 112.90 look for further downside with 112.70 & 112.55 as targets.

Comment
Technically the RSI is above its neutrality area at 50.

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.

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