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:1.1100


Our preference:short positions below 1.1100 with targets at 1.0985 & 1.0950 in extension.


Alternative scenario:above 1.1100 look for further upside with 1.1160 & 1.1200 as targets.


Comment:the RSI advocates for further decline.





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USD/JPY Intraday: bullish bias above 106.15.


Pivot:106.15


Our preference:long positions above 106.15 with targets at 107.10 & 107.55 in extension.


Alternative scenario:below 106.15 look for further downside with 105.55 & 105.10 as targets.


Comment:the RSI is mixed to bullish.






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GBP/USD Intraday: under pressure.


Pivot:1.2235


Our preference:short positions below 1.2235 with targets at 1.2040 & 1.1950 in extension.


Alternative scenario:above 1.2235 look for further upside with 1.2300 & 1.2335 as targets.


Comment:the RSI shows downside momentum.






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EUR/GBP intraday: under pressure below 0.9153


Our pivot point stands at 0.9153.


Our preference:under pressure below 0.9153.


Alternative scenario:the upside breakout of 0.9153, would call for 0.9192 and 0.9216.


Comment:the RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair stands below its 20 and 50 MAs (respectively at 0.9118 and 0.9107).





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USD/ZAR intraday: the upside prevails as long as 16.4630 is support


16.4630 is our pivot point.


Our preference:the upside prevails as long as 16.4630 is support.


Alternative scenario:below 16.4630, expect 16.3400 and 16.2660.


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 above its 20 and 50 MAs (respectively at 16.5584 and 16.6035).





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