Daily Technical Strategies






November 12, 2019


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: bullish bias above 1.1025.


Pivot:1.1025


Our preference:long positions above 1.1025 with targets at 1.1045 & 1.1055 in extension.


Alternative scenario:below 1.1025 look for further downside with 1.1015 & 1.1000 as targets.


Comment:the RSI is bullish and calls for further advance.





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USD/JPY Intraday: further advance.


Pivot:109.00


Our preference:long positions above 109.00 with targets at 109.45 & 109.60 in extension.


Alternative scenario:below 109.00 look for further downside with 108.90 & 108.75 as targets.


Comment:the RSI is bullish and calls for further upside. The pair validated a Falling Wedge:






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GBP/USD Intraday: bullish bias above 1.2845.


Pivot:1.2845


Our preference:long positions above 1.2845 with targets at 1.2875 & 1.2900 in extension.


Alternative scenario:below 1.2845 look for further downside with 1.2830 & 1.2805 as targets.


Comment:a support base at 1.2845 has formed and has allowed for a temporary stabilisation.





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EUR/GBP intraday: rebound towards 0.8638


Our pivot point stands at 0.8552.


Our preference:rebound towards 0.8638.


Alternative scenario:the downside breakout of 0.8552 would call for 0.8520 and 0.8500.


Comment:the RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 0.8581 and 0.8588).






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USD/ZAR intraday: as long as 14.8250 is support look for 15.0590


Our pivot point is at 14.8250.


Our preference:as long as 14.8250 is support look for 15.0590.


Alternative scenario:the downside breakout of 14.8250 would call for 14.7360 and 14.6830.


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 above its 20 and 50 MAs (respectively at 14.8735 and 14.8381).






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