EURUSD topped up at 1.1035.

April 7, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1000 1.1079 1.1123
Support 1.0877 1.0833 1.0754
Primary Scenario EURUSD topped up at 1.1035, before retracing below the daily pivot at 1.0956. If the pair manages to extend its correction, it will drop further towards the support level at 1.0877 and 1.0833.
Alternative Scenario An upward wave would push prices to exceed the daily pivot, with immediate target the resistance level at 1.100.

 

 

GBPUSD H4
Resistance 1.4948 1.5018 1.5055
Support 1.4840 1.4803 1.4733
Primary Scenario A plunge of the market led GBPUSD to violate the daily pivot point at 1.4910. A sustained trading below this level will push the pair to find support at 1.4840 and even lower at 1.4803.
Alternative Scenario A successful penetration of the daily pivot will lift the market towards the resistance level at 1.4948.

USDCHF H4
Resistance 0.9624 0.9665 0.9729
Support 0.9518 0.9455 0.9413
Primary Scenario USDCHF bounced from the previous bottom and is now trading slightly below the daily pivot (0.9560). If the bulls take control and manage to gain momentum, the exchange rate will target the forthcoming resistances at 0.9624 and 0.9665, respectively.
Alternative Scenario On the other hand, a setback of the prices will lead the market below the daily pivot. The next support is seen at 0.9518.

 

USDJPY H4
Resistance 119.76 120.39 121.20
Support 119.50 119.21 118.71
Primary Scenario The pair is now testing the lower level of the cloud. A failed attempt to move higher will lead USDJPY to breach the barrier at 119.50 and will pave the way down to 119.21.
Alternative Scenario A higher thrust of the market will fuel the pair to enter within the cloud and hit the resistance at the upper level of the Kumo at 119.76.

 

AUDUSD H4
Resistance 0.7644 0.7699 0.7731
Support 0.7556 0.7523 0.7468
Primary Scenario A strong bullish movement led AUDUSD to reach the resistance level at 0.7699. If the pair manages to withstand the sellers’ pressure, it will generate strength for the market to target the forthcoming level at 0.7731 and further up at 0.7760 (Fibonacci resistance level 161.8%).
Alternative Scenario Should the pair fail to move higher, it will plunge down to the support level at 0.7644.

 

 

Article by ForexTime

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