USDJPY: Finally bullish sentiment.

April 8, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0911 1.1008 1.1062
Support 1.0760 1.0706 1.0609
Primary Scenario EURUSD is still trading below the daily pivot point (1.0857). A decisive movement to the south will lead the market to retest the support level at 1.0760 and even lower at 1.0706.
Alternative Scenario If the pair manages to exceed the daily pivot, it will target the resistance level at 1.0911.

 

 

GBPUSD H4
Resistance 1.4883 1.4960 1.5001
Support 1.4765 1.4724 1.4647
Primary Scenario The pair is oscillating the daily pivot at 1.4842. Should GBPUSD fail to surpass the daily pivot, it will push prices lower towards the support level at 1.4765 and further down at 1.4724.
Alternative Scenario On the other hand, a successful penetration of the daily pivot will lift the market higher to retest the hurdle in line at 1.4883.

USDCHF H4
Resistance 0.9700 0.9744 0.9816
Support 0.9585 0.9512 0.9469
Primary Scenario USDCHF finally managed to penetrate the daily pivot point at 0.9628. If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance level at 0.9700 and even higher at 0.9744.
Alternative Scenario A plunge of the pair below the daily pivot will push the exchange rate to find support at 0.9585.

 

USDJPY H4
Resistance 120.44 121.20 122.03
Support 119.75 119.33 118.91
Primary Scenario USDJPY is now negotiating with a bullish sentiment. If the bulls manage to take control of the bears, the next resistance is seen at 120.44 and 121.20.
Alternative Scenario A break back below the key support at 119.75 would open the way down to 119.33, turning the currency pair into a bearish outlook.

 

AUDUSD H4
Resistance 0.7702 0.7773 0.7837
Support 0.7568 0.7505 0.7434
Primary Scenario Prices have been trapped between the support level at 0.7568 and the resistance level at 0.7702. A successful penetration of the barrier at 0.7702 will most likely generate strength for the market to target the forthcoming resistance level at 0.7773.
Alternative Scenario Alternatively, a slump of the market below the daily pivot will lead the rate down to 0.7568.

 

 

Article by ForexTime

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