Fx 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:continuation of the rebound.


Pivot:1.0780

Our preference:long positions above 1.0780 with targets at 1.0835 & 1.0865 in extension.


Alternative scenario:below 1.0780 look for further downside with 1.0765 & 1.0740 as targets.


Comment:the RSI shows upside momentum.



USD/JPY Intraday:under pressure.


Pivot:109.30


Our preference:short positions below 109.30 with targets at 108.65 & 108.30 in extension.


Alternative scenario:above 109.30 look for further upside with 109.70 & 110.00 as targets.


Comment:a break below 108.65 would trigger a drop towards 108.30.



GBP/USD Intraday:continuation of the rebound.


Pivot:1.2215


Our preference:long positions above 1.2215 with targets at 1.2320 & 1.2360 in extension.


Alternative scenario:below 1.2215 look for further downside with 1.2190 & 1.2160 as targets.


Comment:the RSI shows upside momentum.



EUR/GBP intraday:as long as 0.8765 is support look for 0.8925


0.8765 is our pivot point.


Our preference:as long as 0.8765 is support look for 0.8925.


Alternative scenario:the downside breakout of 0.8765 would call for 0.8706 and 0.8671.


Comment:the RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is below its 20 MA (0.8817) but above its 50 MA (0.8805).



USD/ZAR intraday:rebound towards 19.0120


Our pivot point is at 18.5240.


Our preference:rebound towards 19.0120.


Alternative scenario:below 18.5240, expect 18.3550 and 18.2550.


Comment:the RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair stands above its 20 MA (18.6547) but below its 50 MA (18.8094).

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