Daily Fx Technical Analysis





DAILY TECHNICAL STRATEGIES

December 12, 2019


Here are today's directional views from the global research desks of Currency Hedger! These are starting points for your own research to identify opportunities that make sense for you. Like what you see?


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EUR/USD USD/JPY GBP/USD EUR/GBP USD/ZAR


Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.


EUR/USD Intraday: the bias remains bullish.


Pivot:1.1125


Our preference:long positions above 1.1125 with targets at 1.1155 & 1.1170 in extension.


Alternative scenario:below 1.1125 look for further downside with 1.1110 & 1.1095 as targets.


Comment:the RSI shows upside momentum.





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USD/JPY Intraday: key resistance at 108.65.


Pivot:108.65


Our preference:short positions below 108.65 with targets at 108.40 & 108.30 in extension.


Alternative scenario:above 108.65 look for further upside with 108.85 & 109.00 as targets.


Comment:as long as 108.65 is resistance, look for choppy price action with a bearish bias.





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GBP/USD Intraday: the upside prevails.


Pivot:1.3190


Our preference:long positions above 1.3190 with targets at 1.3235 & 1.3260 in extension.


Alternative scenario:below 1.3190 look for further downside with 1.3170 & 1.3140 as targets.


Comment:the RSI shows upside momentum.





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EUR/GBP intraday: the downside prevails as long as 0.8455 is resistance


0.8455 is our pivot point.


Our preference:the downside prevails as long as 0.8455 is resistance.


Alternative scenario:the upside breakout of 0.8455, would call for 0.8487 and 0.8506.


Comment:the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 0.8431 and 0.8430).





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USD/ZAR intraday: rebound towards 14.8290


Our pivot point stands at 14.5990.


Our preference:rebound towards 14.8290. Alternative scenario:below 14.5990, expect 14.5110 and 14.4590.


Comment:the RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the pair stands below its 20 and 50 MAs (respectively at 14.6775 and 14.7296).





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