Swissquote Bank Research Team
Swissquote Bank Ltd
EUR/USD
Bullish bias above 1.1300.
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Pivot (invalidation): 1.1300
Our preference
Long positions above 1.1300 with targets at 1.1330 & 1.1345 in extension.
Alternative scenario
Below 1.1300 look for further downside with 1.1275 & 1.1245 as targets.
Comment
The RSI lacks downward momentum.
GBP/USD
The bias remains bullish.
Pivot (invalidation): 1.3170
Our preference
Long positions above 1.3170 with targets at 1.3220 & 1.3245 in extension.
Alternative scenario
Below 1.3170 look for further downside with 1.3140 & 1.3110 as targets.
Comment
A support base at 1.3170 has formed and has allowed for a temporary stabilisation.
USD/JPY
Limited upside.
Pivot (invalidation): 109.90
Our preference
Long positions above 109.90 with targets at 110.25 & 110.50 in extension.
Alternative scenario
Below 109.90 look for further downside with 109.70 & 109.40 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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