Fx Daily Technical Strategies





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: bullish bias above 1.1355.


Pivot:1.1355


Our preference:long positions above 1.1355 with targets at 1.1460 & 1.1495 in extension.


Alternative scenario:below 1.1355 look for further downside with 1.1320 & 1.1280 as targets.


Comment:a support base at 1.1355 has formed and has allowed for a temporary stabilisation.





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USD/JPY Intraday: the downside prevails.


Pivot:103.60


Our preference:short positions below 103.60 with targets at 101.50 & 100.50 in extension.


Alternative scenario:above 103.60 look for further upside with 104.45 & 105.00 as targets.


Comment:the RSI is mixed to bearish.





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GBP/USD Intraday: the upside prevails.


Pivot:1.3025


Our preference:long positions above 1.3025 with targets at 1.3125 & 1.3160 in extension.


Alternative scenario:below 1.3025 look for further downside with 1.2990 & 1.2945 as targets.


Comment:even though a continuation of the consolidation cannot be ruled out, its extent should be limited.





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EUR/GBP intraday: the upside prevails as long as 0.8697 is support


Our pivot point stands at 0.8697.


Our preference:the upside prevails as long as 0.8697 is support.


Alternative scenario:the downside breakout of 0.8697 would call for 0.8663 and 0.8642.


Comment:the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 0.8691 and 0.8691).






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USD/ZAR intraday: the upside prevails as long as 16.1200 is support


Our pivot point is at 16.1200.


Our preference:the upside prevails as long as 16.1200 is support.


Alternative scenario:the downside breakout of 16.1200 would call for 16.0330 and 15.9810.


Comment:the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 15.9900 and 15.7960).






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