EURUSD recovered from the previous bottom.

January 27, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1322 1.1407 1.1519
Support 1.1124 1.1012 1.0927
Primary Scenario EURUSD recovered from the previous bottom and it is now trading above the daily pivot at 1.1209. A sustained trading above this level, will most likely lead the market to hit the resistance level at 1.1322 and even higher at 1.1407.
Alternative Scenario A plunge of the pair below the daily pivot will open the way down to the support level at 1.1124.

 

GBPUSD H4
Resistance 1.5123 1.5171 1.5240
Support 1.5007 1.4938 1.4890
Primary Scenario A strong movement led the pair to penetrate the daily pivot (1.5055). If GBPUSD manages to withhold the sellers’ pressure, it will surpass the hurdle at 1.5123, targeting the forthcoming resistance at 1.5171.
Alternative Scenario A comeback of the market will push prices to find support at the daily pivot point at 1.5055.

 

USDCHF H4
Resistance 0.9122 0.9220 0.9400
Support 0.8844 0.8664 0.8566
Primary Scenario USDCHF is surging today and it is poised to reach the resistance level at 0.9122. A successful attempt to exceed this level, will generate strength for the market to target the next level at 0.9220.
Alternative Scenario A setback of the exchange rate, will lead USDCHF to find support at the daily pivot (0.8942) and then lower at 0.8844.

 

USDJPY H4
Resistance 118.39 118.81 119.32
Support 117.92 117.23 116.63
Primary Scenario The USDJPY pair is still negotiating above the Kumo. An upward wave would act as a catalyst for the market to penetrate the barrier at 118.39. The next resistance is seen at 118.81.
Alternative Scenario Any fruitless attempt to move higher, will push the pair to hit the support level at the upper level of the cloud at 117.92.

 

AUDUSD H4
Resistance 0.7951 0.7979 0.8026
Support 0.7876 0.7829 0.7800
Primary Scenario AUDUSD is now testing the hurdle at 0.7951. Any decisive movement to the north will lift the pair above this level, with immediate target the forthcoming resistance at 0.7979.
Alternative Scenario A failed attempt to breach the resistance level at 0.7951, will lead the pair down to the daily pivot at 0.7904.

 

 

Article by ForexTime

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