Fx 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!


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:1.1080


Our preference:long positions above 1.1080 with targets at 1.1110 & 1.1120 in extension.


Alternative scenario:below 1.1080 look for further downside with 1.1065 & 1.1050 as targets.


Comment:the RSI shows upside momentum.







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USD/JPY Intraday: under pressure.


Pivot:110.10


Our preference:short positions below 110.10 with targets at 109.80 & 109.70 in extension.


Alternative scenario:above 110.10 look for further upside with 110.20 & 110.30 as targets.


Comment:the RSI shows downside momentum.







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GBP/USD Intraday: the bias remains bullish.


Pivot:1.2990


Our preference:long positions above 1.2990 with targets at 1.3030 & 1.3045 in extension.


Alternative scenario:below 1.2990 look for further downside with 1.2980 & 1.2960 as targets.


Comment:the RSI shows upside momentum.







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EUR/GBP intraday: technical rebound towards 0.8555 before a new drop


Our pivot point stands at 0.8555.


Our preference:technical rebound towards 0.8555 before a new drop.


Alternative scenario:the upside breakout of 0.8555, would call for 0.8583 and 0.8600.


Comment:the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading above its 20 MA (0.8531) but under its 50 MA (0.8533).






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USD/ZAR intraday: the upside prevails as long as 14.4760 is support


Our pivot point is at 14.4760.


Our preference:the upside prevails as long as 14.4760 is support.


Alternative scenario:below 14.4760, expect 14.4190 and 14.3850.


Comment:the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 14.5040 and 14.5005).






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