Currency Zone

EUR/USD Intraday: the downside prevails.

Pivot: 1.1525

Our preference: short positions below 1.1525 with targets at 1.1485 & 1.1460 in extension.

Alternative scenario: above 1.1525 look for further upside with 1.1545 & 1.1580 as targets.

Comment: the RSI shows downside momentum.

 

 

USD/JPY Intraday: intraday support around 112.35.

Pivot: 112.35

Our preference: long positions above 112.35 with targets at 112.75 & 113.00 in extension.

Alternative scenario: below 112.35 look for further downside with 112.15 & 111.95 as targets.

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

 

 

GBP/USD Intraday: under pressure.

Pivot: 1.3130

Our preference: short positions below 1.3130 with targets at 1.3075 & 1.3050 in extension.

Alternative scenario: above 1.3130 look for further upside with 1.3165 & 1.3190 as targets.

Comment: the RSI lacks upward momentum.

 

 

EUR/GBP Intraday: under pressure.

Pivot: 0.8785

Our preference: short positions below 0.8785 with targets at 0.8765 & 0.8750 in extension.

Alternative scenario: above 0.8785 look for further upside with 0.8795 & 0.8805 as targets.

Comment: as long as 0.8785 is resistance, expect a return to 0.8765.

 

 

USD/ZAR intraday: the upside prevails as long as 14.1760 is support

Our pivot point stands at 14.1760.

Our preference: the upside prevails as long as 14.1760 is support.

Alternative scenario: the downside breakout of 14.1760 would call for 14.0660 and 14.0010.

Comment: the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 14.2463 and 14.2217).