Daily Technical Strategies (FX)

Here are today's directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Feel free to forward this to a friend!

Daily Technical Strategies (FX) October 1, 2020

Here are today's directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Feel free to forward this to a friend!   EUR/USD   USD/JPY   GBP/USD   AUD/USD

Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.

EUR/USD Intraday: bullish bias above 1.1710.   Pivot: 1.1710   Our preference: long positions above 1.1710 with targets at 1.1755 & 1.1775 in extension.   Alternative scenario: below 1.1710 look for further downside with 1.1685 & 1.1665 as targets.   Comment: a support base at 1.1710 has formed and has allowed for a temporary stabilisation.

USD/JPY Intraday: under pressure.   Pivot: 105.60   Our preference: short positions below 105.60 with targets at 105.30 & 105.20 in extension.   Alternative scenario: above 105.60 look for further upside with 105.80 & 106.00 as targets.   Comment: the RSI is below its neutrality area at 50%

GBP/USD Intraday: the upside prevails.   Pivot: 1.2875   Our preference: long positions above 1.2875 with targets at 1.2945 & 1.2980 in extension.   Alternative scenario: below 1.2875 look for further downside with 1.2840 & 1.2805 as targets.   Comment: technically the RSI is above its neutrality area at 50.

AUD/USD Intraday: further advance.   Pivot: 0.7130   Our preference: long positions above 0.7130 with targets at 0.7200 & 0.7220 in extension.   Alternative scenario: below 0.7130 look for further downside with 0.7100 & 0.7075 as targets.   Comment: the break above 0.7130 is a positive signal that has opened a path to 0.7200.

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