Daily Trading Analysis – head Lagarde: the underlying price pressure remains reduced.
Our Analysis:
While the price is below 1.2020, follow the recommendations below:
Time frame: D1
Recommendation: short position
Entry point: 1.1938
Take Profit 1: 1.1845
Take Profit 2: 1.1775
Alternative scenario:
If the level 1.2020 is broken-out, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 1.2020
Take Profit 1: 1.2095
Take Profit 2: 1.2190
Source: PAXFOREX Broker
EUR/USD Intraday: key resistance at 1.1945.
Pivot:
1.1945
Our preference:
Short positions below 1.1945 with targets at 1.1910 & 1.1895 in extension.
Alternative scenario:
Above 1.1945 look for further upside with 1.1960 & 1.1975 as targets.
Comment:
As long as the resistance at 1.1945 is not surpassed, the risk of the break below 1.1910 remains high.
Trading Analysis of GBP/USD
GBP/USD is in a sideways trend at 1.3820-1.4020 – UOB Group.
Our Analysis:
While the price is below 1.4075, follow the recommendations below:
Time frame: D1
Recommendation: short position
Entry point: 1.3883
Take Profit 1: 1.3670
Take Profit 2: 1.3500
Alternative scenario:
If the level 1.4075 is broken-out, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 1.4075
Take Profit 1: 1.4240
Take Profit 2: 1.4380
GBP/USD Intraday: under pressure.
Pivot:
1.3905
Our preference:
Short positions below 1.3905 with targets at 1.3875 & 1.3860 in extension.
Alternative scenario:
Above 1.3905 look for further upside with 1.3930 & 1.3950 as targets.
Comment:
As long as 1.3905 is resistance, look for choppy price action with a bearish bias.
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