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.
Our preference:short positions below 1.1030 with targets at 1.1010 & 1.1000 in extension.
Alternative scenario:above 1.1030 look for further upside with 1.1040 & 1.1050 as targets. Comment:the RSI lacks upward momentum.
USD/JPY Intraday: the bias remains bullish.
Our preference:long positions above 109.45 with targets at 109.80 & 110.00 in extension.
Alternative scenario:below 109.45 look for further downside with 109.30 & 109.20 as targets. Comment:the RSI is mixed to bullish.
GBP/USD Intraday: under pressure.
Our preference:short positions below 1.2930 with targets at 1.2900 & 1.2880 in extension.
Alternative scenario:above 1.2930 look for further upside with 1.2950 & 1.2965 as targets.
Comment:a break below 1.2900 would trigger a drop towards 1.2880.
EUR/GBP intraday: as long as 0.8507 is support look for 0.8592
Our pivot point is at 0.8507.
Our preference:as long as 0.8507 is support look for 0.8592.
Alternative scenario:the downside breakout of 0.8507 would call for 0.8475 and 0.8456.
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 under its 20 MA (0.8535) but above its 50 MA (0.8529).
USD/ZAR intraday: the downside prevails as long as 14.7060 is resistance
14.7060 is our pivot point.
Our preference:the downside prevails as long as 14.7060 is resistance.
Alternative scenario:above 14.7060, look for 14.7930 and 14.8460.
Comment:the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 14.6449 and 14.6618).
The information provided does not constitute, in any way, a solicitation or inducement to buy or sell securities and similar products. Comments and analysis reflect the views of Currency Hedger at any given time and are subject to change at any time. Moreover, they can not constitute a commitment or guarantee on the part of Currency Hedger. The recipient acknowledges and agrees that by their very nature any investment in a financial instrument is of a random nature and therefore any such investment constitutes a risky investment for which the recipient is solely responsible. It is specified that the past performance of a financial product does not prejudge in any way their future performance. The foreign exchange market and financial derivatives such as futures, CFDs (Contracts for Difference), warrants, turbos or certificates involve a high degree of risk