EURUSD has breached the key level at 1.0915

August 5, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0951 1.1023 1.1060
Support 1.0843 1.0806 1.0734
Primary Scenario EURUSD has breached the key level at 1.0915 (daily pivot) and is now testing the support at 1.0843. A decisive movement to the south will push prices to hit the forthcoming support levels at 1.0806 and 1.0734.
Alternative Scenario A surge of the market will lift the exchange rate towards the daily pivot point at 1.0915 and even higher to 1.0951.

 

 

GBPUSD H4
Resistance 1.5610 1.5659 1.5686
Support 1.5534 1.5507 1.5458
Primary Scenario The pair is now testing the support level at 1.5534. Further drop of GBPUSD will lead the market underway towards the support level at 1.5507 and further down to 1.5458.
Alternative Scenario On the other hand, a higher thrust of the currency pair will trigger the market to reach the daily pivot point and even higher at 1.5610.

 

 

USDCHF H4
Resistance 0.9824 0.9867 0.9946
Support 0.9703 0.9624 0.9581
Primary Scenario A strong upward movement led USDCHF to penetrate the daily pivot point (0.9746). If the pair manages to extend its uptrend, the next resistance is seen at 0.9824 and 0.9867.
Alternative Scenario A reversal back below the daily pivot will push the market to find support at 0.9703.

 

 

USDJPY H4
Resistance 124.57 125.03 125.65
Support 124.26 124.03 123.74
Primary Scenario USDJPY is negotiating near the previous high. If the pair achieves to exceed this level, it will target the forthcoming resistance level at 125.03.
Alternative Scenario Alternatively, a plunge of the currency pair below the support at 124.26 will open the way down to 124.03.

AUDUSD H4
Resistance 0.7449 0.7520 0.7614
Support 0.7284 0.7191 0.7119
Primary Scenario AUDUSD is trading on the daily pivot point at 0.7355. An upward wave would fuel the pair to retest the hurdle in line at 0.7449 and then higher to 0.7520.
Alternative Scenario Should the pair manage to violate the daily pivot, the next support is estimated at 0.7284.

 

 

Article by ForexTime

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