Trading Analysis of EUR/USD – Goldman Sachs lowered its three-month forecast for EUR/USD to 1.20.
Our Analysis:
While the price is below 1.2020, follow the recommendations below:
Time frame: D1
Recommendation: short position
Entry point: 1.1895
Take Profit 1: 1.1775
Take Profit 2: 1.1700
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
EUR/USD Intraday: consolidation in place.
Pivot:
1.1935
Our preference:
Short positions below 1.1935 with targets at 1.1910 & 1.1895 in extension.
Alternative scenario:
Above 1.1935 look for further upside with 1.1970 & 1.1990 as targets.
Comment:
As long as the resistance at 1.1935 is not surpassed, the risk of the break below 1.1910 remains high.
Analysts expect the Bank of England to remain cautiously optimistic about the recovery and keep its key rate at 0.1%.
Our Analysis:
While the price is below 1.4075, follow the recommendations below:
Time frame: D1
Recommendation: short position
Entry point: 1.3939
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: break of a ST rising trendline support.
Pivot:
1.3975
Our preference:
Short positions below 1.3975 with targets at 1.3920 & 1.3900 in extension.
Alternative scenario:
Above 1.3975 look for further upside with 1.4000 & 1.4020 as targets.
Comment:
The RSI is mixed with a bearish bias.
Source: PAXFOREX BROKER
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