Today's 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: the upside prevails.


Pivot:1.1300


Our preference:long positions above 1.1300 with targets at 1.1385 & 1.1425 in extension.


Alternative scenario:below 1.1300 look for further downside with 1.1275 & 1.1245 as targets. Comment:the RSI shows upside momentum.




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USD/JPY Intraday: under pressure.



Pivot:105.25



Our preference:short positions below 105.25 with targets at 103.70 & 103.15 in extension.


Alternative scenario:above 105.25 look for further upside with 105.90 & 106.35 as targets.


Comment:the RSI is mixed to bearish.




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GBP/USD Intraday: continuation of the rebound.


Pivot:1.2885


Our preference:long positions above 1.2885 with targets at 1.2950 & 1.2980 in extension.


Alternative scenario:below 1.2885 look for further downside with 1.2865 & 1.2840 as targets.


Comment:the RSI shows upside momentum.




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EUR/GBP intraday: as long as 0.8740 is support look for 0.8838


Our pivot point is at 0.8740.


Our preference:as long as 0.8740 is support look for 0.8838.


Alternative scenario:the downside breakout of 0.8740 would call for 0.8704 and 0.8683.


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 trading above both its 20 and 50 MAs (respectively at 0.8762 and 0.8740).




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USD/ZAR intraday: target 15.7450


Our pivot point is at 16.0690.


Our preference:target 15.7450.


Alternative scenario:the upside breakout of 16.0690, would call for 16.1750 and 16.2370.


Comment:the RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is above its 20 and 50 MAs (respectively at 15.9507 and 15.9378).





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