0
55
Pivot (invalidation): 1.2995
Our preference
Long positions above 1.2995 with targets at 1.3040 & 1.3060 in extension.
Alternative scenario
Below 1.2995 look for further downside with 1.2970 & 1.2950 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be
limited. The pair has broken above the upper boundary of a bearish channel drawn from
September 27.
(By Swissquote TRADING CENTRAL)
