EURUSD is trading near the resistance level at 1.3298.

August 22, 2014

Article by ForexTime

EURUSD H4
Resistance 1.3298 1.3316 1.3344
Support 1.3251 1.3223 1.3205
Primary Scenario EURUSD is trading near the resistance level at 1.3298, signaling that the correction course is still in force. A surpass of this level will lift the market higher towards the hurdle at 1.3316.
Alternative Scenario A plunge of the pair will lead the rate to find support at 1.3269 and then lower at 1.3251.

 

GBPUSD H4
Resistance 1.6598 1.6618 1.6636
Support 1.6561 1.6543 1.6524
Primary Scenario The trend has been neutral the last two sessions. Any decisive movement to the north will lead the market to retest the barrier at 1.6598. A successful penetration of this level, would trigger the market higher to the resistance level at 1.6618.
Alternative Scenario A downside moving will push prices to cross the daily pivot at 1.6581 and even lower to the support at 1.6561.

 

USDCHF H4
Resistance 0.9136 0.9158 0.9171
Support 0.9100 0.9087 0.9065
Primary Scenario Having reversed from the previous top, USDCHF is now heading to the support level at 0.9100. If the pair manages to extend its downtrend, it will breach the said level, targeting the next support at 0.9087.
Alternative Scenario A break above the daily pivot point (0.9123), it is expected to reach the barrier at 0.9136.

 

USDJPY H4
Resistance 104.03 104.82 105.61
Support 103.58 103.10 102.43
Primary Scenario USDJPY is still trading into a bullish sentiment. If the pair achieves to withstand the sellers’ pressure, it will move higher to exceed the hurdle at 104.04 and further up at 104.82.
Alternative Scenario Any fruitless attempt for further increase of the rate, will lead USDJPY to move down to the support at 103.58. The next support is seen at 103.10. RSI oscillator supports this scenario.

 

AUDUSD H4
Resistance 0.9328 0.9354 0.9399
Support 0.9256 0.9211 0.9184
Primary Scenario The pair approached the key barrier at 0.9328. The next focus will be the surpass of this level. If that happens, prices will climb towards the resistance level at 0.9354 and 0.9399.
Alternative Scenario If the pair fails to move higher, it will turn back to be supported at the daily pivot (0.9283) and even lower at 0.9256.

 

 

Article by ForexTime

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