Currency Zone

Wednesday, November 14, 2018

Daily technical strategies

EUR/USD USD/JPY GBP/USD EUR/GBP USD/ZAR

 

EUR/USD Intraday: the bias remains bullish.

Pivot: 1.1275

Our preference: long positions above 1.1275 with targets at 1.1320 & 1.1340 in extension.

Alternative scenario: below 1.1275 look for further downside with 1.1250 & 1.1215 as targets.

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

 

USD/JPY Intraday: key resistance at 114.05.

Pivot: 114.05

Our preference: short positions below 114.05 with targets at 113.70 & 113.55 in extension.

Alternative scenario: above 114.05 look for further upside with 114.20 & 114.40 as targets.

Comment: the upward potential is likely to be limited by the resistance at 114.05.

 

GBP/USD Intraday: the upside prevails.

Pivot: 1.2950

Our preference: long positions above 1.2950 with targets at 1.3040 & 1.3080 in extension.

Alternative scenario: below 1.2950 look for further downside with 1.2890 & 1.2840 as targets.

Comment: a support base at 1.2950 has formed and has allowed for a temporary stabilisation.

 

EUR/GBP Intraday: key resistance at 0.8710.

Pivot: 0.8710

Our preference: short @ 0.8690 with targets @ 0.8675 & 0.8655 in extension.

Alternative scenario: above 0.8710 look for further upside with 0.8725 & 0.8740 as targets.

Comment: the RSI is below its neutrality area at 50%

 

USD/ZAR intraday: the downside prevails as long as 14.5480 is resistance

14.5480 is our pivot point.

Our preference: the downside prevails as long as 14.5480 is resistance.

Alternative scenario: above 14.5480, look for 14.6790 and 14.7570.

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 stands below its 20 and 50 MAs (respectively at 14.4537 and 14.4455).

 

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