EURUSD turned sharply bullish.

April 30, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1223 1.1319 1.1452
Support 1.0995 1.0862 1.0766
Primary Scenario EURUSD turned sharply bullish in the previous session. A sustained trading above the daily pivot point at 1.1091 will most likely lead the pair higher towards the resistance level at 1.1223 and further up at 1.1319. RSI oscillator is negotiating within an overbought territory.
Alternative Scenario A plunge of the market below the daily pivot will open the way to a correction phase down to 1.0995.

 



GBPUSD H4
Resistance 1.5513 1.5591 1.5684
Support 1.5342 1.5248 1.5171
Primary Scenario The pair is now testing the daily pivot (1.5420). Any decisive movement to the north will generate strength for GBPUSD to target the resistance level at 1.5513. The next resistance is seen at 1.5591.
Alternative Scenario Should the pair manage to breach the daily pivot, it will find support at 1.5342. RSI oscillator supports this outlook.

 

 

USDCHF H4
Resistance 0.9528 0.9666 0.9760
Support 0.9297 0.9203 0.9065
Primary Scenario A strong bearish movement led USDCHF to clear the support level at 0.9528 and the daily pivot point (0.9434). If the pair manages to extend its downtrend it will drop further down to 0.9297 and even lower at 0.9203.
Alternative Scenario A higher thrust of the exchange rate will lift the market above the daily pivot towards the resistance at 0.9528.

USDJPY H4
Resistance 118.94 119.30 119.68
Support 118.52 118.18 117.83
Primary Scenario USDJPY is poised to breach the support  level at 118.52. If that happens, the next support is seen at 118.18 and then lower at 117.83.
Alternative Scenario On the other hand, an upward wave would push prices to exceed the resistance at 118.94, with immediate target the next level at 119.30.

AUDUSD H4
Resistance 0.8061 0.8117 0.8160
Support 0.7962 0.7919 0.7862
Primary Scenario AUDUSD edged up at 0.8061, before retracing below the daily pivot at 0.8018. Further fall of the market will lead the currency pair into deeper correction towards the support levels at 0.7962 and 0.7919.
Alternative Scenario A surge of the market will fuel the pair to penetrate the daily pivot, targeting the hurdle at 0.8061.

 

 

Article by ForexTime

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