Daily Fx Technical Analysis






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





EUR/USD Intraday: bullish bias above 1.1195.


Pivot:1.1195


Our preference:long positions above 1.1195 with targets at 1.1220 & 1.1235 in extension.


Alternative scenario:below 1.1195 look for further downside with 1.1180 & 1.1170 as targets.


Comment:the RSI is above its neutrality area at 50%.






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USD/JPY Intraday: under pressure.


Pivot:108.90


Our preference:short positions below 108.90 with targets at 108.45 & 108.25 in extension.


Alternative scenario:above 108.90 look for further upside with 109.05 & 109.20 as targets.


Comment:the RSI shows downside momentum.






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GBP/USD Intraday: the bias remains bullish.


Pivot:1.3100


Our preference:long positions above 1.3100 with targets at 1.3150 & 1.3170 in extension.


Alternative scenario:below 1.3100 look for further downside with 1.3085 & 1.3065 as targets.


Comment:the RSI lacks downward momentum.






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EUR/GBP intraday: target 0.8481


Our pivot point stands at 0.8565.


Our preference:target 0.8481.


Alternative scenario:the upside breakout of 0.8565, would call for 0.8597 and 0.8616.


Comment:the RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is below its 20 MA (0.8541) but above its 50 MA (0.8538).






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USD/ZAR intraday: as long as 14.0620 is support look for 14.2830


Our pivot point stands at 14.0620.


Our preference:as long as 14.0620 is support look for 14.2830.


Alternative scenario:the downside breakout of 14.0620 would call for 13.9770 and 13.9270.


Comment:the RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is above its 20 and 50 MAs (respectively at 14.1166 and 14.0744).





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