GBPUSD pounded in a multi-month low.

November 9, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0850 1.0964 1.1036
Support 1.0664 1.0592 1.0477
Primary Scenario EURUSD is following a downtrend in the 4-hour chart. If the pair manages to breach the support level at 1.0664, the next target is seen at 1.0592.
Alternative Scenario A successful attempt to penetrate the daily pivot at 1.0778 will lift the exchange rate towards the resistance at 1.0850.

 

 

GBPUSD H4
Resistance 1.5165 1.5287 1.5357
Support 1.4973 1.4903 1.4781
Primary Scenario The pair pounded in a multi-month low. Further drop of the market will lead GBPUSD to discover fresh lows down to 1.4973 and further down to 1.4903.
Alternative Scenario Alternatively, a surpass above the daily pivot (1.5095) will bring the market into a correction course, targeting the resistance level at 1.5165. RSI oscillator supports this scenario.

 

 

USDCHF H4
Resistance 1.0104 1.0156 1.0236
Support 0.9971 0.9891 0.9839
Primary Scenario USDCHF jumped above the critical level of 1.0000 in the previous session. If the pair achieves to withstand the sellers’ pressure, it will climb towards the resistance level at 1.0104 and even higher at 1.0156.
Alternative Scenario Should the pair manage to break back below the daily pivot, it will find support at 0.9971.

 

 

USDJPY H4
Resistance 123.47 123.91 124.59
Support 123.08 122.67 122.26
Primary Scenario The pair surged in today’s session. If the pair manages to eliminate the hurdle at 123.47, it will fuel further towards the forthcoming resistance levels at 123.91 and 124.59.
Alternative Scenario On the other hand, a reversal back below the key support level at 123.08 will push prices down to 122.67. RSI is trading within the overbought zone.

AUDUSD H4
Resistance 0.7130 0.7223 0.7277
Support 0.6983 0.6929 0.6837
Primary Scenario AUDUSD is still under pressure. A failed attempt to exceed the daily pivot at 0.7076, it will open the way down to 0.6983 and then lower at 0.6929.
Alternative Scenario. A higher thrust of the market above the daily pivot will trigger the market to hit the resistance level at 0.7130.

 

 

Article by ForexTime

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