Tuesdays Fx Technical Analysis








Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.


EUR/USD Intraday: key resistance at 1.1155.


Pivot:1.1155


Our preference:short positions below 1.1155 with targets at 1.1130 & 1.1110 in extension.


Alternative scenario:above 1.1155 look for further upside with 1.1170 & 1.1185 as targets.


Comment:the upward potential is likely to be limited by the resistance at 1.1155.





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USD/JPY Intraday: supported by a rising trend line.


Pivot:109.45


Our preference:long positions above 109.45 with targets at 109.70 & 109.85 in extension.


Alternative scenario:below 109.45 look for further downside with 109.30 & 109.15 as targets. Comment:the RSI is mixed to bullish.





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GBP/USD Intraday: capped by a negative trend line.


Pivot:1.3320


Our preference:short positions below 1.3320 with targets at 1.3240 & 1.3200 in extension.


Alternative scenario:above 1.3320 look for further upside with 1.3350 & 1.3380 as targets.


Comment:the upward potential is likely to be limited by the resistance at 1.3320.







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EUR/GBP intraday: as long as 0.8361 is support look for 0.8450


Our pivot point is at 0.8361.


Our preference:as long as 0.8361 is support look for 0.8450.


Alternative scenario:the downside breakout of 0.8361 would call for 0.8330 and 0.8311.


Comment:the RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 0.8381 and 0.8358).







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USD/ZAR intraday: rebound towards 14.5300


Our pivot point stands at 14.2920.


Our preference:rebound towards 14.5300.


Alternative scenario:the downside breakout of 14.2920 would call for 14.2060 and 14.1550.


Comment:the RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair stands below its 20 and 50 MAs (respectively at 14.3800 and 14.4144).







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