EURUSD is trading near the previous top at 1.0979.

December 28, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0979 1.1004 1.1043
Support 1.0915 1.0876 1.0851
Primary Scenario EURUSD is trading near the previous top at 1.0979. A successful penetration of this barrier will trigger the market to hit the forthcoming resistance level at 1.1004 and even higher at 1.1043.
Alternative Scenario A comeback of the market will push prices to find support at the daily pivot (1.0940).

GBPUSD H4
Resistance 1.4970 1.5001 1.5058
Support 1.4883 1.4825 1.4795
Primary Scenario The pair is negotiating slightly above the daily pivot at 1.4913. If GBPUSD manages to withstand the sellers’ pressure, the next resistance is seen at 1.4970 and further up to 1.5001.
Alternative Scenario On the other hand, a plunge of the pair below the daily pivot will open the way down to 1.4883.

USDCHF H4
Resistance 0.9909 0.9947 0.9976
Support 0.9842 0.9813 0.9775
Primary Scenario USDCHF is following a downtrend. Any decisive movement to the south will violate the key support at 0.9842, targeting the next level at 0.9813 and then lower at 0.9775.
Alternative Scenario A higher thrust of the currency pair above the daily pivot (0.9880) will lift the exchange rate towards the resistance at 0.9909.

USDJPY H4
Resistance 120.52 120.87 121.43
Support 120.34 120.12 119.84
Primary Scenario The bearish outlook is still in force. Should the pair achieve to breach the support level at 120.34, the next support is estimated at 120.12 and even lower at 119.84.
Alternative Scenario Alternatively, if the USDJPY manages to exceed the barrier at 120.52, the exchange rate will hit the resistance at 120.87.

AUDUSD H4
Resistance 0.7289 0.7311 0.7343
Support 0.7234 0.7203 0.7180
Primary Scenario AUDUSD has finally surpassed the daily pivot point at 0.7257. If the pair manages to extend its momentum, it will target the resistance at 0.7289 and further up at 0.7311.
Alternative Scenario. A reversal back below the daily pivot will push the market to find support at 0.7234.

 

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

10 years ago