EUR/USD Intraday: Caution

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Caution.

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Pivot (invalidation): 1.1205

Our preference
Long positions above 1.1205 with targets at 1.1230 & 1.1240 in extension.

Alternative scenario
Below 1.1205 look for further downside with 1.1190 & 1.1180 as targets.

Comment
Intraday technical indicators are mixed and call for caution.

GBP/USD

Watch 1.2910.

Pivot (invalidation): 1.2950

Our preference
Short positions below 1.2950 with targets at 1.2925 & 1.2910 in extension.

Alternative scenario
Above 1.2950 look for further upside with 1.2975 & 1.2995 as targets.

Comment
A break below 1.2925 would trigger a drop towards 1.2910.

USD/JPY

Choppy.

Pivot (invalidation): 111.95

Our preference
Short positions below 111.95 with targets at 111.75 & 111.65 in extension.

Alternative scenario
Above 111.95 look for further upside with 112.05 & 112.15 as targets.

Comment
As Long as the resistance at 111.95 is not surpassed, the risk of the break below 111.75 remains high.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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