Fx Technical Analysis Monday




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



EUR/USD Intraday: further advance.


Pivot:1.1045


Our preference:long positions above 1.1045 with targets at 1.1080 & 1.1090 in extension.


Alternative scenario:below 1.1045 look for further downside with 1.1030 & 1.1015 as targets.


Comment:the RSI shows upside momentum.












USD/JPY Intraday: the upside prevails.


Pivot:108.65


Our preference:long positions above 108.65 with targets at 109.00 & 109.15 in extension.


Alternative scenario:below 108.65 look for further downside with 108.50 & 108.35 as targets.


Comment:the RSI advocates for further advance.















GBP/USD Intraday: the bias remains bullish.


Pivot:1.2905


Our preference:long positions above 1.2905 with targets at 1.2940 & 1.2960 in extension.


Alternative scenario:below 1.2905 look for further downside with 1.2885 & 1.2865 as targets.


Comment:the RSI advocates for further upside.
















EUR/GBP intraday: rebound towards 0.8617


Our pivot point is at 0.8530.


Our preference:rebound towards 0.8617.


Alternative scenario:the downside breakout of 0.8530 would call for 0.8498 and 0.8478.


Comment:the RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair stands above its 20 MA (0.8556) but below its 50 MA (0.8561).













USD/ZAR intraday: rebound towards 14.9550


Our pivot point is at 14.6910.


Our preference:rebound towards 14.9550.


Alternative scenario:below 14.6910, expect 14.6030 and 14.5500.


Comment:the RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 14.7913 and 14.8234).






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