USDCHF recovered from the correction phase.

February 23, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1445 1.1511 1.1594
Support 1.1296 1.1213 1.1147
Primary Scenario EURUSD is revolving around the daily pivot at 1.1362. A decisive movement to the north will generate strength for the market to target the forthcoming resistances at 1.1445 and 1.1511.
Alternative Scenario A setback of the pair will lead the rate to breach the daily pivot with immediate target the support level at 1.1296.

 

GBPUSD H4
Resistance 1.5438 1.5481 1.5528
Support 1.5348 1.5300 1.5257
Primary Scenario The pair is trading narrowly below the daily pivot point (1.5390). A fruitless attempt to penetrate this level will push prices to retest the barrier at 1.5348. A break back below this level will open the way down to 1.5300.
Alternative Scenario A higher thrust of GBPUSD will lift the pair above the daily pivot. The next resistance is seen at 1.5438.

 

USDCHF H4
Resistance 0.9481 0.9590 0.9646
Support 0.9315 0.9259 0.9149
Primary Scenario USDCHF recovered from the correction phase. Should the market manage to extend its uptrend, it will target the resistance level at 0.9481 and then higher at 0.9590.
Alternative Scenario A comeback of the exchange rate below the daily pivot (0.9425) will lead the pair to find support at 0.9315.

 

USDJPY H4
Resistance 119.08 119.40 119.87
Support 118.73 118.45 118.22
Primary Scenario The pair is now testing the upper level of the Kumo. If USDJPY achieves to exceed this key level, it will trigger the market to retest the previous top at 119.40
Alternative Scenario A drop of the market will push prices to find support at 118.73.

 

AUDUSD H4
Resistance 0.7861 0.7885 0.7922
Support 0.7801 0.7764 0.7740
Primary Scenario The pair is negotiating near the previous high. A sustained trading above the daily pivot at 0.7824, will fuel AUDUSD further towards the resistance levels at 0.7861 and even higher at 0.7885.
Alternative Scenario Should the pair manage to violate the daily pivot, the next support is seen at 0.7801.

 

 

Article by ForexTime

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