Foreign Exchange 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: the bias remains bullish.


Pivot:1.1065


Our preference:long positions above 1.1065 with targets at 1.1085 & 1.1090 in extension.


Alternative scenario:below 1.1065 look for further downside with 1.1055 & 1.1045 as targets.


Comment:the RSI shows upside momentum.






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USD/JPY Intraday: continuation of the rebound.


Pivot:108.35


Our preference:long positions above 108.35 with targets at 108.70 & 108.85 in extension.


Alternative scenario:below 108.35 look for further downside with 108.25 & 108.10 as targets.


Comment:the RSI shows upside momentum.







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GBP/USD Intraday: the upside prevails.


Pivot:1.2915


Our preference:long positions above 1.2915 with targets at 1.2940 & 1.2955 in extension.


Alternative scenario:below 1.2915 look for further downside with 1.2900 & 1.2885 as targets.


Comment:the RSI shows upside momentum.







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EUR/GBP intraday: rebound towards 0.8626


Our pivot point stands at 0.8542.


Our preference:rebound towards 0.8626. Alternative scenario:below 0.8542, expect 0.8509 and 0.8490.


Comment:the RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the pair stands below its 20 and 50 MAs (respectively at 0.8568 and 0.8570).








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USD/ZAR intraday: the downside prevails as long as 14.8360 is resistance


14.8360 is our pivot point.


Our preference:the downside prevails as long as 14.8360 is resistance.


Alternative scenario:above 14.8360, look for 14.9240 and 14.9770. Comment:the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 14.7796 and 14.7938).






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