Fx Technical Analysis

Monday, May 27, 2019     V
Daily technical strategies 
EUR/USD USD/JPY GBP/USD EUR/GBP USD/ZAR
EUR/USD Intraday: the upside prevails.Pivot: 1.1190

Our preference: long positions above 1.1190 with targets at 1.1230 & 1.1245 in extension.

Alternative scenario: below 1.1190 look for further downside with 1.1175 & 1.1160 as targets.

Comment: the RSI shows upside momentum.

USD/JPY Intraday: continuation of the rebound.Pivot: 109.25

Our preference: long positions above 109.25 with targets at 109.70 & 109.95 in extension.

Alternative scenario: below 109.25 look for further downside with 109.00 & 108.80 as targets.

Comment: the RSI shows upside momentum.

GBP/USD Intraday: further advance.Pivot: 1.2705

Our preference: long positions above 1.2705 with targets at 1.2760 & 1.2780 in extension.

Alternative scenario: below 1.2705 look for further downside with 1.2680 & 1.2655 as targets.

Comment: the RSI advocates for further advance.

EUR/GBP intraday: rebound towards 0.8866Our pivot point stands at 0.8778.

Our preference: rebound towards 0.8866.

Alternative scenario: below 0.8778, expect 0.8745 and 0.8725.

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 0.8807 and 0.8817).

USD/ZAR intraday: the downside prevails as long as 14.4740 is resistance14.4740 is our pivot point.

Our preference: the downside prevails as long as 14.4740 is resistance.

Alternative scenario: above 14.4740, look for 14.5600 and 14.6120.

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 14.4173 and 14.4200).

Fx Analysis

EUR/USD Intraday: the bias remains bullish.Pivot: 1.1150

Our preference: long positions above 1.1150 with targets at 1.1165 & 1.1175 in extension.

Alternative scenario: below 1.1150 look for further downside with 1.1140 & 1.1125 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

USD/JPY Intraday: the upside prevails.Pivot: 110.30

Our preference: long positions above 110.30 with targets at 110.65 & 110.80 in extension.

Alternative scenario: below 110.30 look for further downside with 110.05 & 109.85 as targets.

Comment: the RSI lacks downward momentum.

GBP/USD Intraday: key resistance at 1.2735.Pivot: 1.2735

Our preference: short positions below 1.2735 with targets at 1.2695 & 1.2685 in extension.

Alternative scenario: above 1.2735 look for further upside with 1.2760 & 1.2785 as targets.

Comment: as long as the resistance at 1.2735 is not surpassed, the risk of the break below 1.2695 remains high. 

EUR/GBP intraday: target 0.87170.8804 is our pivot point.

Our preference: target 0.8717.

Alternative scenario: the upside breakout of 0.8804, would call for 0.8837 and 0.8857.

Comment: the RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is below its 20 MA (0.8783) but above its 50 MA (0.8775).

USD/ZAR intraday: rebound towards 14.5560Our pivot point stands at 14.3310.

Our preference: rebound towards 14.5560.

Alternative scenario: the downside breakout of 14.3310 would call for 14.2450 and 14.1940.

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 (14.3992) but below its 50 MA (14.4122).

Things in Tech You Need to Know Today

This is the tech news you need to know this Thursday.

  1. Federal prosecutors are investigating the Chinese electronics giant Huawei for allegedly stealing trade secrets from US companies. One such incident includes Huawei supposedly stealing robotic technology that T-Mobile uses to test its smartphones, according to the report.
  2. WeWork CEO Adam Neumann reportedly made millions of dollars by renting office space in buildings that he partially owns to his company, according to a Wall Street Journal report on Wednesday. In a filing for prospective investors last year, WeWork reportedly disclosed that it paid $12 million in rent between 2016 and 2017 to buildings “partially owned by officers” of WeWork.
  3. Lime is reportedly set for a $2 billion valuation after taking $400 million in new funding mostly from its existing investors. According to Recode, Lime has been circulating documents gauging interest in the new round.
  4. Apple will cut back on hiring for certain divisions as the company re-adjusts its plans in the face of slowing iPhone sales, according to a Bloomberg report on Wednesday. CEO Tim Cook told employees during a meeting earlier this month that Apple would reduce hiring for certain unspecified groups, but said the company would not impose a hiring freeze.
  5. Niantic, the developer of “Pokémon Go”, announced that it’s raised $245 million in a deal valuing it at “almost $4 billion.” CEO John Hanke said Niantic is cash-flow positive, but the money helps it bunker down for a possible venture capital crunch as it starts the years-long road towards a possible IPO.
  6. Free-to-play video games generated $87.7 billion in revenue during 2018, according to research firm SuperData.  “Fortnite” was the top grossing game of 2018, free or otherwise, with an estimated $2.4 billion in revenue.
  7. Microsoft is building a service that intends to be the “Netflix for games.” The goal of the service, named ” Project xCloud,” is to stream high-end video games to any device.
  8. Lenovo is reportedly planning to release a new Motorola Razr phone with a foldable display as soon as February. The new Motorola Razr will cost about $1,500.
  9. A controversial startup that charges $8,000 to fill people’s veins with young blood now claims to be up and running in 5 cities across the US. Ambrosia recently completed its first clinical trial designed to assess the benefits of the procedure, but it has yet to publish the results.
  10. Snap has lost 20 senior executives since it went public almost two years ago. In that time, it has lost two chief financial officers, multiple HR execs, and most of CEO Evan Spiegel’s top lieutenants.