Currency Zone

EUR/USD Intraday: under pressure.

Pivot: 1.1395

Our preference: short positions below 1.1395 with targets at 1.1355 & 1.1330 in extension.

Alternative scenario: above 1.1395 look for further upside with 1.1430 & 1.1450 as targets.

Comment: the RSI is mixed to bearish.

 

USD/JPY Intraday: under pressure.

Pivot: 112.45

Our preference: short positions below 112.45 with targets at 112.00 & 111.80 in extension.

Alternative scenario: above 112.45 look for further upside with 112.65 & 112.85 as targets.

Comment: the RSI shows downside momentum.

 

GBP/USD Intraday: the downside prevails.

Pivot: 1.2865

Our preference: short positions below 1.2865 with targets at 1.2795 & 1.2750 in extension.

Alternative scenario: above 1.2865 look for further upside with 1.2895 & 1.2920 as targets.

Comment: a break below 1.2795 would trigger a drop towards 1.2750.

 

EUR/GBP Intraday: intraday support around 0.8855.

Pivot: 0.8855

Our preference: long positions above 0.8855 with targets at 0.8885 & 0.8905 in extension.

Alternative scenario: below 0.8855 look for further downside with 0.8835 & 0.8815 as targets.

Comment: a support base at 0.8855 has formed and has allowed for a temporary stabilisation.

 

 

USD/ZAR intraday: above its upper Bollinger band

Our pivot point stands at 14.5880.

Our preference: the upside prevails as long as 14.5880 is support.

Alternative scenario: the downside breakout of 14.5880 would call for 14.4800 and 14.4150.

Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 14.6204 and 14.5773). Finally, the USD/ZAR has crossed above its upper Bollinger band (14.6628).