EURUSD GBPUSD Analysis – EUR/USD will correct up after ECB inflation statement – TDS
Our Analysis:
- While the price is below 1.1950, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1845
- 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
EUR/USD Intraday: intraday support around 1.1825.
- Pivot:1.1825
- Our preference:Long positions above 1.1825 with targets at 1.1850 & 1.1865 in extension.
- Alternative scenario:Below 1.1825 look for further downside with 1.1810 & 1.1795 as targets.
- Comment:Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
EURUSD GBPUSD Analysis – GBP/USD trades below 1.3800 after UK GDP fell to 0.8% in May.
Our Analysis:
- While the price is below 1.4000, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3791
- Take Profit 1: 1.3670
- Take Profit 2: 1.3540
Alternative scenario:
- If the level 1.4000 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4000
- Take Profit 1: 1.4090
- Take Profit 2: 1.4240
GBP/USD Intraday: rebound expected.
- Pivot:1.3755
- Our preference:Long positions above 1.3755 with targets at 1.3795 & 1.3815 in extension.
- Alternative scenario:Below 1.3755 look for further downside with 1.3740 & 1.3720 as targets.
- Comment:A support base at 1.3755 has formed and has allowed for a temporary stabilisation.
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