Daily Technical Analysis

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? Feel free to forward this to a friend!


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

EUR/USD Intraday: key resistance at 1.1105.


Our preference:short positions below 1.1105 with targets at 1.1085 & 1.1070 in extension.

Alternative scenario:above 1.1105 look for further upside with 1.1120 & 1.1130 as targets.

Comment:the upward potential is likely to be limited by the resistance at 1.1105.


USD/JPY Intraday: the bias remains bullish.


Our preference:long positions above 110.00 with targets at 110.30 & 110.45 in extension.

Alternative scenario:below 110.00 look for further downside with 109.90 & 109.80 as targets.

Comment:the RSI shows upside momentum.


GBP/USD Intraday: under pressure.


Our preference:short positions below 1.3020 with targets at 1.2980 & 1.2960 in extension.

Alternative scenario:above 1.3020 look for further upside with 1.3045 & 1.3060 as targets.

Comment:the RSI is mixed to bearish.


EUR/GBP intraday: as long as 0.8508 is support look for 0.8584

Our pivot point is at 0.8508.

Our preference:as long as 0.8508 is support look for 0.8584.

Alternative scenario:below 0.8508, expect 0.8480 and 0.8463.

Comment:the RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is above its 20 and 50 MAs (respectively at 0.8529 and 0.8521).


USD/ZAR intraday: eye 14.3340

Our pivot point stands at 14.4900.

Our preference:eye 14.3340.

Alternative scenario:the upside breakout of 14.4900, would call for 14.5460 and 14.5800.

Comment:the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is below its 20 MA (14.4531) but above its 50 MA (14.4337).




by WooHoo Ireland


Woooo Fx Education

Camden Street Lower, St Kevin's, Dublin 2, Ireland D 02 XE 80 | +353-214-651-000 |info@woohooai.com

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Trading in leveraged currency contracts comes with substantial risk. You must be aware of these risks before opening an account to trade. High leverage amplifies gains as well as losses, leading to potential loss of the entire account balance. Trading in leveraged currency contracts may not be suitable for every investor. Never speculate using money that you cannot afford to lose.

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