USDJPY is testing the upper level of the cloud.

October 3, 2014

Article by ForexTime

EURUSD H4
Resistance 1.2706 1.2744 1.2790
Support 1.2621 1.2575 1.2537
Primary Scenario EURUSD is pivoting around the daily pivot at 1.2659. If the history repeats, will push prices lower to hit the support level at 1.2621. A further drop of the market will lead the pair to find support at 1.2575.
Alternative Scenario Should the pair manage to surpass above the daily pivot, will target the next resistance at 1.2706.

 

GBPUSD H4
Resistance 1.6224 1.6305 1.6361
Support 1.6087 1.6031 1.5950
Primary Scenario The pair finally breached the daily pivot (1.6168). If GBPUSD achieves to extend its downtrend, it will move lower to the supports at 1.6087 and 1.6031.
Alternative Scenario A higher thrust of the market, will generate strength for the pair to reach the daily pivot and further up at 1.6224.

 

USDCHF H4
Resistance 0.9573 0.9607 0.9636
Support 0.9510 0.9482 0.9448
Primary Scenario USDCHF has been trapped between the support level at 0.9510 and the resistance level at 0.9573. A decisive movement upwards will lift the pair to retest the hurdle at 0.9573 and even higher at 0.9607.
Alternative Scenario A break back below the daily pivot, will push prices to find support at 0.9510.

 

USDJPY H4
Resistance 108.94 109.36 110.07
Support 108.56 108.13 107.73
Primary Scenario USDJPY is now on an attempt to test the upper level of the kumo at 108.94. A successful penetration of this level will trigger the market to hit the next resistance at 109.36.
Alternative Scenario A comeback of the pair will lead the pair towards the support within the cloud at 108.56.

 

AUDUSD H4
Resistance 0.8843 0.8884 0.8944
Support 0.8742 0.8683 0.8641
Primary Scenario The pair is hovering above the daily pivot at 0.8783. A bounce up from current levels, will push the market to target the resistance level at 0.8843. The next resistance is estimated at 0.8884.
Alternative Scenario If AUDUSD manages to violate the daily pivot, it will fall lower, targeting the support at 0.8742.

 

 

Article by ForexTime

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