EURUSD gained momentum.

July 22, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0997 1.1060 1.1154
Support 1.0840 1.0747 1.0683
Primary Scenario EURUSD gained momentum and bounced up from the previous bottom. For the moment is trading above the daily pivot point at 1.0904 and if the pair manages to extend its bullish momentum, it will climb towards the resistances at 1.0997 and 1.1060.
Alternative Scenario A comeback of the market will lead the currency pair below the daily pivot and then lower at 1.0840.

 

 

GBPUSD H4
Resistance 1.5584 1.5617 1.5645
Support 1.5522 1.5494 1.5461
Primary Scenario The pair is searching for direction. Should GBPUSD achieve to penetrate the hurdle in line at 1.5584, the next resistance is seen at 1.5617.
Alternative Scenario Alternatively, a drop of the exchange rate below the daily pivot will push prices to find support at 1.5522.

 

 

USDCHF H4
Resistance 0.9632 0.9684 0.9721
Support 0.9544 0.9507 0.9455
Primary Scenario USDCHF edged up at 0.9647, before closing below the daily pivot at 0.9595. Further drop of the currency pair will open the way down towards the support level at 0.9544 and then lower at 0.9507.
Alternative Scenario An upward wave would trigger the market to exceed the daily pivot, targeting the key resistance at 0.9632.

 

 

USDJPY H4
Resistance 123.90 124.47 125.06
Support 123.60 123.25 122.90
Primary Scenario The pair is following a correction course. Any bullish leap from current levels will most likely fuel USDJPY to retest and surpass the hurdle at 123.90, with immediate target the resistance level at 124.47.
Alternative Scenario A deeper correction of the currency pair will push the market to breach the support level at 123.60. The next support is estimated at 123.25.

AUDUSD H4
Resistance 0.7463 0.7510 0.7571
Support 0.7355 0.7293 0.7247
Primary Scenario AUDUSD is still moving sideways. Any decisive movement to the north will generate strength for the market to target the resistance level at 0.7463 and further up to 0.7510.
Alternative Scenario On the other hand, a plunge of the pair below the daily pivot will open the way down to 0.7355.

 

Article by ForexTime

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