GBPUSD: The trading range has been limited to 1.5544 and 1.5653.

August 18, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1114 1.1152 1.1180
Support 1.1048 1.1020 1.0982
Primary Scenario EURUSD is now negotiating slightly above the important support level at 1.1048. If the pair manages to violate this level, it will open the way down to 1.1020 and then lower at 1.0982.
Alternative Scenario An upward wave would fuel the pair to reach the daily pivot at 1.1086 and even higher the resistance level at 1.1114.

 

 

GBPUSD H4
Resistance 1.5653 1.5724 1.5761
Support 1.5544 1.5507 1.5435
Primary Scenario The trading range has been limited to 1.5544 and 1.5653. A plunge of GBPUSD below the key support level at 1.5544 will most likely push prices lower towards the next target at 1.5507. Next support level lies at 1.5435.
Alternative Scenario On the other hand, a leap of the pair from current levels will lift the exchange rate above the daily pivot (1.5615) and further up to 1.5653.

 

 

USDCHF H4
Resistance 0.9808 0.9830 0.9863
Support 0.9752 0.9719 0.9697
Primary Scenario USDCHF is poised to retest the hurdle at 0.9808. A successful penetration of this level will trigger the market to target the forthcoming resistance level at 0.9830 and even higher at 0.9863.
Alternative Scenario A comeback of the pair will push the market below the daily pivot point at 0.9774, targeting the support level at 0.9752.

 

 

USDJPY H4
Resistance 124.53 124.88 125.27
Support 124.35 124.04 123.78
Primary Scenario The pair is trading within the cloud. If USDJPY manages to withstand the sellers’ pressure it will eliminate the barrier at 124.53 with immediate target the resistance level at 124.88.
Alternative Scenario A failed attempt to move higher will lead the market to breach the support level at 124.35. The next support is estimated at 124.04.

AUDUSD H4
Resistance 0.7391 0.7412 0.7436
Support 0.7345 0.7321 0.7300
Primary Scenario AUDUSD is pivoting the daily pivot point at 0.7367.  A downward momentum will push the pair to find support at 0.7345 and then lower at 0.7321.
Alternative Scenario. Alternatively, a higher thrust of the market will lift the pair to penetrate the daily pivot, targeting the forthcoming resistance at 0.7391.

 

 

Article by ForexTime

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