Daily Technical Analysis

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Daily Technical Analysis Trading Analysis of EUR/USD After the release of the U.S. inflation data, EUR/USD started rising, but TD Securities analysts do not have high hopes for this growth.

While the price is below 1.1980, follow the recommendations below:

  • Time frame: D1
  • Recommendation: short position
  • Entry point: 1.1718
  • Take Profit 1: 1.1700
  • Take Profit 2: 1.1600

Alternative scenario:If the level 1.1980 is broken-out, follow the recommendations below:

  • Time frame: D1
  • Recommendation: long position
  • Entry point: 1.1980
  • Take Profit 1: 1.2100
  • Take Profit 2: 1.2190

Trading Analysis of GBP/USD GBP/USD: the dollar determines the dynamics of the major currency pairs.While the price is below 1.3960, follow the recommendations below:

  • Time frame: D1
  • Recommendation: short position
  • Entry point: 1.3823
  • Take Profit 1: 1.3735
  • Take Profit 2: 1.3570

Alternative scenario:If the level 1.3960 is broken-out, follow the recommendations below:

  • Time frame: D1
  • Recommendation: long position
  • Entry point: 1.3960
  • Take Profit 1: 1.4090
  • Take Profit 2: 1.4240

Source: PAXFOREX

Daily Technical Analysis EUR/USD Intraday: bullish bias above 1.1725.

Pivot:1.1725

Our preference:Long positions above 1.1725 with targets at 1.1755 & 1.1770 in extension.

Alternative scenario:Below 1.1725 look for further downside with 1.1705 & 1.1690 as targets.

Comment:Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

GBP/USD Intraday: the bias remains bullish.

Pivot:1.3850

Our preference:Long positions above 1.3850 with targets at 1.3890 & 1.3910 in extension.

Alternative scenario:Below 1.3850 look for further downside with 1.3830 & 1.3805 as targets.

Comment:Technically the RSI is above its neutrality area at 50.

Daily Technical Analysis

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