EUR/USD, GBP/USD, DAX: short-term analysis for this week (Goldman Sachs)

Goldman Sachs has just issued a short-term technical analysis of the EUR/USD, GBP/USD and the DAX30.

EUR/USD:

The EUR/USD continues to display very shallow declines. The next area worthy of attention is 1.2070 / 1.2074. In terms of support, previous peaks and troughs come at 1.1828/1.1823. Neutral bias.

GBP/USD:

The GBP/USD rose more than expected. It now reaches a pivotal level at 1.3267 (August 3 peak). To maintain our overall bearish view, this threshold must not be broken. Neutral bias.

DAX30:

The break above 12374 signals a possible beginning of a wave 5 from the June 2016 trough. The next threshold to be targeted is 12952 (top of June 2017). Support is at 11891, the 38.2% Fibonacci level. Neutral bias.