DAILY TECHNICAL STRATEGIES






December 19, 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? Feel free to forward this to a friend!


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 upside prevails.


Pivot:1.1110


Our preference:long positions above 1.1110 with targets at 1.1140 & 1.1155 in extension.


Alternative scenario:below 1.1110 look for further downside with 1.1095 & 1.1085 as targets.


Comment:the RSI shows upside momentum.






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USD/JPY Intraday: the bias remains bullish.


Pivot:109.45


Our preference:long positions above 109.45 with targets at 109.70 & 109.85 in extension.


Alternative scenario:below 109.45 look for further downside with 109.35 & 109.25 as targets.


Comment:the RSI is mixed to bullish.





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GBP/USD Intraday: key resistance at 1.3105.


Pivot:1.3105


Our preference:short positions below 1.3105 with targets at 1.3060 & 1.3040 in extension.


Alternative scenario:above 1.3105 look for further upside with 1.3130 & 1.3170 as targets.


Comment:as long as the resistance at 1.3105 is not surpassed, the risk of the break below 1.3060 remains high.







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EUR/GBP intraday: the upside prevails as long as 0.8479 is support


0.8479 is our pivot point.


Our preference:the upside prevails as long as 0.8479 is support.


Alternative scenario:the downside breakout of 0.8479 would call for 0.8447 and 0.8428.


Comment:the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 0.8499 and 0.8499).






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USD/ZAR intraday: rebound towards 14.4630


Our pivot point is at 14.2410.


Our preference:rebound towards 14.4630.


Alternative scenario:the downside breakout of 14.2410 would call for 14.1550 and 14.1040.


Comment:the RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the pair is trading above its 20 MA (14.3091) but under its 50 MA (14.3368).








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