USDCHF: The trend has been overall neutral.

August 15, 2014

Article by ForexTime

EURUSD H4
Resistance 1.3398 1.3432 1.3457
Support 1.3339 1.3314 1.3280
Primary Scenario The pair retreated from the previous top and is now trading below the daily pivot (1.3373). Any decisive movement downwards will push prices to find support at 1.3339. Should EURUSD manage to breach this barrier, it will open the way towards the next support level at 1.3314.
Alternative Scenario A higher thrust of the rate, will lead the market to penetrate the daily pivot and to retest the hurdle at 1.3398.

 

GBPUSD H4
Resistance 1.6701 1.6718 1.6741
Support 1.6662 1.6640 1.6623
Primary Scenario GBPUSD is heading to the resistance level at 1.6701. If the pair manages to withstand the sellers’ pressure, it will exceed the said hurdle and it will climb towards the resistance level at 1.6718.
Alternative Scenario A reversal back below the daily pivot at 1.6679, would trigger the market to extend its downtrend, targeting the supports at 1.6662 and 1.6640.

 

USDCHF H4
Resistance 0.9088 0.9111 0.9138
Support 0.9037 0.9010 0.8987
Primary Scenario The trend has been overall neutral this week. An upward wave, would generate strength for the market to surpass the barrier at 0.9088. If that happens, the next resistance is seen at 0.9111 and then higher at 0.9138.
Alternative Scenario A plunge of USDCHF below the daily pivot, will push prices to find support at 0.9037.

 

USDJPY H4
Resistance 102.65 102.91 103.07
Support 102.47 102.29 102.08
Primary Scenario USDJPY is trading above the cloud, narrowly below the resistance at 102.65. An impulsive movement  to the north, will lift the pair above this level, gaining momentum to expand its bullish sentiment towards the next resistance level at 102.91.
Alternative Scenario A successful breach of the support at 102.47, will push prices lower to the upper level of the Kumo at 102.29.

 

AUDUSD H4
Resistance 0.9333 0.9349 0.9373
Support 0.9293 0.9270 0.9254
Primary Scenario AUDUSD proceeds in fresh highs, heading to the resistance level at 0.9333. A successful penetration of this level, will fuel the pair further, up to the next target at 0.9349.
Alternative Scenario Should the pair break below the daily pivot at 0.9310, it will enter to a correction course down to the support level at 0.9293.

 

 

Article by ForexTime

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