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: under pressure.


Pivot:1.1335

Our preference:short positions below 1.1335 with targets at 1.1275 & 1.1245 in extension.


Alternative scenario:above 1.1335 look for further upside with 1.1365 & 1.1395 as targets.


Comment:the RSI is mixed to bearish.




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USD/JPY Intraday: under pressure.


Pivot:104.20


Our preference:short positions below 104.20 with targets at 103.10 & 102.60 in extension.


Alternative scenario:above 104.20 look for further upside with 104.70 & 105.10 as targets.


Comment:the RSI shows downside momentum.




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GBP/USD Intraday: under pressure.


Pivot:1.2850


Our preference:short positions below 1.2850 with targets at 1.2780 & 1.2740 in extension.


Alternative scenario:above 1.2850 look for further upside with 1.2880 & 1.2905 as targets.


Comment:the RSI shows downside momentum.





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EUR/GBP intraday: the upside prevails as long as 0.8753 is support


0.8753 is our pivot point.


Our preference:the upside prevails as long as 0.8753 is support.


Alternative scenario:below 0.8753, expect 0.8717 and 0.8696.


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 0.8774 and 0.8768).




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USD/ZAR intraday: the RSI is overbought


16.3150 is our pivot point.


Our preference:the upside prevails as long as 16.3150 is support.


Alternative scenario:the downside breakout of 16.3150 would call for 16.2070 and 16.1420.


Comment:the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 16.2833 and 16.1493).





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