Swissquote Bank Research Team
Swissquote Bank Ltd
EUR/USD
Turning down.
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Pivot (invalidation): 1.1160
Our preference
Short positions below 1.1160 with targets at 1.1115 & 1.1095 in extension.
Alternative scenario
Above 1.1160 look for further upside with 1.1180 & 1.1200 as targets.
Comment
The RSI is bearish and calls for further downside.
GBP/USD
Bullish bias above 1.2240.
Pivot (invalidation): 1.2240
Our preference
Long positions above 1.2240 with targets at 1.2290 & 1.2310 in extension.
Alternative scenario
Below 1.2240 look for further downside with 1.2220 & 1.2195 as targets.
Comment
A support base at 1.2240 has formed and has allowed for a temporary stabilisation.
USD/JPY
Turning up.
Pivot (invalidation): 105.10
Our preference
Long positions above 105.10 with targets at 106.00 & 106.35 in extension.
Alternative scenario
Below 105.10 look for further downside with 104.75 & 104.40 as targets.
Comment
The RSI calls for a rebound.
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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