Midday Fx Technical Analysis





EUR/USD Intraday: turning down.


Pivot:1.1130


Our preference:short positions below 1.1130 with targets at 1.1100 & 1.1090 in extension.


Alternative scenario:above 1.1130 look for further upside with 1.1140 & 1.1155 as targets.


Comment:the RSI shows downside momentum.




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USD/JPY Intraday: further upside.



Pivot:108.60


Our preference:long positions above 108.60 with targets at 109.05 & 109.15 in extension.


Alternative scenario:below 108.60 look for further downside with 108.40 & 108.30 as targets.


Comment:the RSI advocates for further advance.






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GBP/USD Intraday: intraday support around 1.2875.


Pivot:1.2875


Our preference:long positions above 1.2875 with targets at 1.2920 & 1.2940 in extension.


Alternative scenario:below 1.2875 look for further downside with 1.2860 & 1.2845 as targets.


Comment:the RSI shows upside momentum.






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EUR/GBP intraday: below its lower Bollinger band


Our pivot point is at 0.8648. Our preference:the downside prevails as long as 0.8648 is resistance.


Alternative scenario:the upside breakout of 0.8648, would call for 0.8680 and 0.8700.


Comment:the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). 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 0.8632 and 0.8636). Finally, the EUR/GBP is trading below its lower Bollinger band (standing at 0.8616).







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USD/ZAR intraday: the downside prevails as long as 14.7910 is resistance


Our pivot point stands at 14.7910. Our preference:the downside prevails as long as 14.7910 is resistance.


Alternative scenario:the upside breakout of 14.7910, would call for 14.8790 and 14.9320.


Comment:the RSI is below its neutrality area at 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 14.7549 and 14.7774).




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