Swissquote Bank Research Team
Swissquote Bank Ltd
EUR/USD
Rebound expected.
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Pivot (invalidation): 1.1000
Our preference
Long positions above 1.1000 with targets at 1.1035 & 1.1055 in extension.
Alternative scenario
Below 1.1000 look for further downside with 1.0985 & 1.0970 as targets.
Comment
A support base at 1.1000 has formed and has allowed for a temporary stabilisation. The pair has swung back to the upper Bollinger band after locating a key support at 1.1000.
GBP/USD
The upside prevails.
Pivot (invalidation): 1.2400
Our preference
Long positions above 1.2400 with targets at 1.2465 & 1.2500 in extension.
Alternative scenario
Below 1.2400 look for further downside with 1.2370 & 1.2330 as targets.
Comment
The RSI lacks downward momentum.
USD/JPY
Bullish bias above 107.80.
Pivot (invalidation): 107.80
Our preference
Long positions above 107.80 with targets at 108.15 & 108.30 in extension.
Alternative scenario
Below 107.80 look for further downside with 107.55 & 107.35 as targets.
Comment
A support base at 107.80 has formed and has allowed for a temporary stabilisation.
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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