USDCHF has just surpassed the daily pivot.

January 29, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1353 1.1421 1.1460
Support 1.1247 1.1208 1.1140
Primary Scenario A strong movement to the south, led EURUSD to violate the daily pivot point at 1.1314. Should the pair manage to breach the support level at 1.1247, it will move lower towards the forthcoming target at 1.1208.
Alternative Scenario On the other hand, a successful attempt to penetrate the daily pivot point will lift the market towards the resistance level at 1.1353.

 

GBPUSD H4
Resistance 1.5193 1.5250 1.5281
Support 1.5105 1.5073 1.5016
Primary Scenario The pair is gyrating below the daily pivot (1.5161). A downward momentum will push the rate to hit the support level at 1.5105 and then lower at 1.5073.
Alternative Scenario If GBPUSD manages to exceed the daily pivot point, it will target the resistance level at 1.5193.

 

USDCHF H4
Resistance 0.9094 0.9144 0.9200
Support 0.8988 0.8932 0.8881
Primary Scenario USDCHF has just surpassed the daily pivot at 0.9038. If the pair manages to extend its uptrend, it will trigger the market to retest the hurdle at 0.9094 and even higher at 0.9144.
Alternative Scenario A reversal back of the pair below the daily pivot, will push prices to find support at 0.8988.

 

USDJPY H4
Resistance 118.02 118.26 118.65
Support 117.57 117.32 116.90
Primary Scenario USDJPY is negotiating within the cloud. Any decisive movement to the north will fuel the pair to penetrate the upper level of the cloud at 118.02. The next resistance is estimated at 118.26.
Alternative Scenario A drop of the market below the barrier at 117.57, it will open the way down to the support level at 117.32.

 

AUDUSD H4
Resistance 0.7979 0.8072 0.8120
Support 0.7838 0.7790 0.7698
Primary Scenario The pair is now poised to test the support level at 0.7838. A breach of this level will lead the exchange rate down to the forthcoming support at 0.7790.
Alternative Scenario If the pair manages to withstand the sellers’ pressure, it will climb towards the daily pivot point at 0.7931.

 

 

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

 

 

 

 

11 years ago