EURUSD surged into fresh highs.

October 15, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1515 1.1557 1.1627
Support 1.1403 1.1334 1.1291
Primary Scenario EURUSD surged into fresh highs. If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance level at 1.1515 and then higher at 1.557.
Alternative Scenario A plunge of the market below the daily pivot (1.1446) will push the pair to find support at 1.1403. RSI supports this scenario.

 

 

GBPUSD H4
Resistance 1.5564 1.5653 1.5812
Support 1.5316 1.5157 1.5068
Primary Scenario The pair has finally achieved to penetrate the important hurdle at 1.5405 (daily pivot point). A decisive movement to the north will trigger the market to extend its momentum, targeting the resistance level at 1.5564 and even higher at 1.5653.
Alternative Scenario Should GBPUSD manages to break below the daily pivot, it will open the way down to 1.5316. RSI is trading within the overbought territory.

 

 

USDCHF H4
Resistance 0.9556 0.9621 0.9657
Support 0.9454 0.9418 0.9353
Primary Scenario USDCHF is trading in a multi-month low. Further drop of the currency pair will most likely push prices lower towards the support level at 0.9454 and further down to 0.9418.
Alternative Scenario On the other hand, an upward wave would lift the market above the daily pivot, with immediate target the resistance at 0.9556. RSI is negotiating at 21.

 

 

USDJPY H4
Resistance 119.16 119.61 120.04
Support 118.61 118.24 117.61
Primary Scenario The correction course of USDJPY ended and the pair is now heading to retest the support level at 118.61. If the bears manage to take control of the bulls and violate this level, the next support is estimated at 118.24.
Alternative Scenario Any forceful attempt to move above the barrier at 119.16 will lead the exchange rate to eye the lower level of the cloud at 119.61.

AUDUSD H4
Resistance 0.7343 0.7389 0.7462
Support 0.7224 0.7152 0.7106
Primary Scenario AUDUSD is now testing the hurdle at 0.7343. A successful attempt to exceed this level will fuel the pair further towards the forthcoming resistance at 0.7389.
Alternative Scenario. A comeback of the currency pair will push the market to find support at the daily pivot point at 0.7270.

 

 

Article by ForexTime

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