Swissquote Bank Research Team
Swissquote Bank Ltd
EUR/USD
The downside prevails.
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Pivot (invalidation): 1.1155
Our preference
Short positions below 1.1155 with targets at 1.1120 & 1.1110 in extension.
Alternative scenario
Above 1.1155 look for further upside with 1.1170 & 1.1185 as targets.
Comment
The RSI shows downside momentum.
GBP/USD
Key resistance at 1.3150.
Pivot (invalidation): 1.3150
Our preference
Short positions below 1.3150 with targets at 1.3040 & 1.3000 in extension.
Alternative scenario
Above 1.3150 look for further upside with 1.3210 & 1.3255 as targets.
Comment
As Long as 1.3150 is resistance, look for choppy price action with a bearish bias.
USD/JPY
Under pressure.
Pivot (invalidation): 109.55
Our preference
Short positions below 109.55 with targets at 109.25 & 109.10 in extension.
Alternative scenario
Above 109.55 look for further upside with 109.70 & 109.85 as targets.
Comment
The RSI lacks upward momentum.
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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