EURUSD intends to penetrate the resistance level at 1.1008.

July 27, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1008 1.1037 1.1079
Support 1.0938 1.0896 1.0868
Primary Scenario EURUSD intends to penetrate the hurdle at 1.1008. If that happens, the next resistance is seen at 1.1037 and even higher at 1.1079.
Alternative Scenario A tumble of the market will lead the pair to find support at the daily pivot point at 1.0938.

 

 

GBPUSD H4
Resistance 1.5530 1.5557 1.5589
Support 1.5471 1.5439 1.5412
Primary Scenario The pair is now testing the critical resistance at 1.5530. A successful attempt to surpass this level will most likely trigger the market to target the resistance level at 1.5557 and further up to 1.5589.
Alternative Scenario On the other hand, a plunge of GBPUSD will lead the market to face the daily pivot (1.5498) and then lower at 1.5471.

 

 

USDCHF H4
Resistance 0.9646 0.9671 0.9708
Support 0.9584 0.9547 0.9522
Primary Scenario USDCHF is oscillating around the daily pivot point at 0.9609. A decisive movement to the south will push prices to find support at 0.9584. Further drop of the market will lead the exchange rate to hit the support level at 0.9547.
Alternative Scenario An upward wave would generate strength for the market to exceed the daily pivot, with immediate target the resistance at 0.9646.

 

 

USDJPY H4
Resistance 123.74 124.09 124.47
Support 123.24 122.91 122.52
Primary Scenario The USDJPY pair has entered within the cloud, after a violation of the upper level of the Kumo. A comeback of the market will lift the currency pair to breach the hurdle at 123.74, targeting the resistance level at 124.09.
Alternative Scenario A deeper correction within the cloud will see the support levels at 123.24 and even lower at 122.91.

AUDUSD H4
Resistance 0.7340 0.7401 0.7442
Support 0.7238 0.7197 0.7136
Primary Scenario AUDUSD is negotiating slightly below the daily pivot at 0.7299. Any downward momentum will push the pair to reach the support level at 0.7238 and then lower at 0.7197.
Alternative Scenario A higher thrust of the market will fuel the pair to penetrate the daily pivot. The next resistance is seen at 0.7340.

 

 

Article by ForexTime

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