EURUSD Trading – Trading Analysis of EUR/USD – EUR/USD: attention is on the new ECB hints.
Our Analysis:While the price is below 1.1950, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1812
- Take Profit 1: 1.1700
- Take Profit 2: 1.1600
Alternative scenario:If the level 1.1950 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1950
- Take Profit 1: 1.2050
- Take Profit 2: 1.2095
Trading Analysis of GBP/USD – GBP/USD is holding around 1.3815-20, but might test 1.3750, reacting to the tone of the ECB statement.
Our Analysis:While the price is below 1.4040, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3762
- Take Profit 1: 1.3670
- Take Profit 2: 1.3540
Alternative scenario:If the level 1.4040 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4040
- Take Profit 1: 1.4240
- Take Profit 2: 1.4380
Source: PAXFOREX broker
EURUSD Trading EUR/USD Intraday: consolidation.
Pivot:1.1820
Our preference:
Short positions below 1.1820 with targets at 1.1790 & 1.1775 in extension.
Alternative scenario:Above 1.1820 look for further upside with 1.1835 & 1.1850 as targets.
Comment:As long as 1.1820 is resistance, look for choppy price action with a bearish bias.
GBP/USD Intraday: under pressure.
Pivot:1.3780
Our preference:Short positions below 1.3780 with targets at 1.3730 & 1.3710 in extension.
Alternative scenario:Above 1.3780 look for further upside with 1.3800 & 1.3820 as targets.
Comment: The RSI advocates for further decline.
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