Daily Fx Technical Analysis





Here are today's directional views from the global research desks of www.currencyhedger.ie! These are starting points for your own research to identify opportunities that make sense for you.


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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: bullish bias above 1.1180.


Pivot:1.1180


Our preference:long positions above 1.1180 with targets at 1.1200 & 1.1215 in extension.


Alternative scenario:below 1.1180 look for further downside with 1.1170 & 1.1155 as targets.


Comment:a support base at 1.1180 has formed and has allowed for a temporary stabilisation.




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USD/JPY Intraday: the bias remains bullish.


Pivot:108.25


Our preference:long positions above 108.25 with targets at 108.60 & 108.75 in extension.


Alternative scenario:below 108.25 look for further downside with 108.15 & 107.95 as targets.


Comment:the RSI is mixed to bullish.





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GBP/USD Intraday: the upside prevails.


Pivot:1.3130


Our preference:long positions above 1.3130 with targets at 1.3180 & 1.3210 in extension.


Alternative scenario:below 1.3130 look for further downside with 1.3095 & 1.3060 as targets.


Comment:the RSI lacks downward momentum.







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EUR/GBP intraday: rebound towards 0.8556


0.8470 is our pivot point.


Our preference:rebound towards 0.8556. Alternative scenario:below 0.8470, expect 0.8438 and 0.8418.


Comment:the RSI is below its neutrality area at 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 0.8500 and 0.8512).






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USD/ZAR intraday: below its lower Bollinger band


14.2640 is our pivot point.


Our preference:the downside prevails as long as 14.2640 is resistance.


Alternative scenario:above 14.2640, look for 14.3490 and 14.4000.


Comment:the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 14.2129 and 14.2520). Finally, the USD/ZAR has penetrated its lower Bollinger band (14.1875).





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