GBPUSD: Today’s surge push the market above the daily pivot at 1.5278.

February 6, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1548 1.1620 1.1743
Support 1.1353 1.1231 1.1158
Primary Scenario EURUSD is poised to retest the hurdle at 1.1548. If that happens, the next resistance is seen at 1.1620.
Alternative Scenario A plunge of the market below the daily pivot point (1.1425) will push prices to find support at 1.1353.

 

GBPUSD H4
Resistance 1.5391 1.5455 1.5569
Support 1.5213 1.5100 1.5035
Primary Scenario Today’s surge push the market above the daily pivot at 1.5278. If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance level at 1.5391 and then higher at 1.5455.
Alternative Scenario Alternatively, a comeback of GBPUSD will lead the rate to breach the daily pivot, with immediate target the support level at 1.5213. RSI oscillator supports this outlook.

 

USDCHF H4
Resistance 0.9278 0.9347 0.9384
Support 0.9172 0.9135 0.9066
Primary Scenario USDCHF is trading slightly below the daily pivot (0.9241). A decisive movement to the south will open the way down to 0.9172 and even lower at 0.9135.
Alternative Scenario An upward wave will trigger the market to penetrate the daily pivot, targeting the resistance level at 0.9278.

 

USDJPY H4
Resistance 117.54 118.01 118.48
Support 117.00 116.62 115.84
Primary Scenario The trend has been overall neutral the previous sessions. Any purposeful movement downwards will push the pair to retest the barrier at 117.00. A breach of this level will pave the way down to 116.62.
Alternative Scenario A higher thrust of USDJPY will lift the pair to reach the resistance level at 117.54.

 

AUDUSD H4
Resistance 0.7835 0.7874 0.7925
Support 0.7745 0.7693 0.7654
Primary Scenario AUDUSD is now reaching the previous highs. A sustained trading above 0.7835, will most likely fuel the pair to target the forthcoming resistance at 0.7874 and then higher at 0.7925.
Alternative Scenario A setback of the market below the support level at 0.7835 will lead the pair to find support at the daily pivot (0.7784).

 

 

Article by ForexTime

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