EUR/USD
Turning up.
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Pivot (invalidation): 1.0820
Our preference
Long positions above 1.0820 with targets at 1.0875 & 1.0895 in extension.
Alternative scenario
Below 1.0820 look for further downside with 1.0790 & 1.0765 as targets.
Comment
The RSI calls for a new upleg.
GBP/USD
Bullish bias above 1.2395.
Pivot (invalidation): 1.2395
Our preference
Long positions above 1.2395 with targets at 1.2455 & 1.2485 in extension.
Alternative scenario
Below 1.2395 look for further downside with 1.2375 & 1.2355 as targets.
Comment
Technically the RSI is above its neutrality area at 50.
USD/JPY
Bullish bias above 106.60.
Pivot (invalidation): 106.60
Our preference
Long positions above 106.60 with targets at 107.00 & 107.15 in extension.
Alternative scenario
Below 106.60 look for further downside with 106.35 & 106.20 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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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