EURUSD is trading above the daily pivot point at 1.0854.

January 14, 2016

Article by ForexTime

EURUSD H4
Resistance 1.0905 1.0938 1.0988
Support 1.0821 1.0771 1.0738
Primary Scenario EURUSD is trading above the daily pivot point at 1.0854. If the pair manages to withhold the sellers’ pressure, it will climb towards the resistance level at 1.0905 and then higher at 1.0938.
Alternative Scenario A comeback of the market woud lead the currency pair below the daily pivot, with immediate target the support level at 1.0821.

GBPUSD H4
Resistance 1.4459 1.4515 1.4555
Support 1.4363 1.4323 1.4267
Primary Scenario The pair is following a downtrend. If GBPUSD achieves to extend its momentum, the next support is seen at 1.4363 and even lower at 1.4323.
Alternative Scenario On the other hand, a successful attempt to exceed the daily pivot (1.4419) would lift the exchange rate towards the resistance at 1.4459.

USDCHF H4
Resistance 1.0099 1.0146 1.0186
Support 1.0012 0.9972 0.9925
Primary Scenario USDCHF intends to retest the hurdle in line at 1.0099. Should the pair achieve to surpass this level, it will target the forthcoming resistance at 1.0146.
Alternative Scenario A setback of the currency pair will push prices to find support at the daily pivot at 1.0059 and further down to 1.0012.

USDJPY H4
Resistance 118.14 118.63 118.88
Support 117.39 117.13 116.64
Primary Scenario The pair is gyrating the daily pivot at 117.88. A decisive movement to the north will trigger the market to hit the resistance at 118.14 and even higher at 118.63.
Alternative Scenario Alternatively, a plunge of the market below the daily pivot will pave the path down to 117.39.

AUDUSD H4
Resistance 0.7018 0.7082 0.7116
Support 0.6919 0.6885 0.6821
Primary Scenario AUDUSD has retested the key support at 0.6919. If the pair achieves to violate this level, the next support is seen at 0.6885 and then lower at 0.6821.
Alternative Scenario. An upward wave will fuel the pair to penetrate the daily pivot (0.6983), opening the way towards the resistance at 0.7018.

 

Article by ForexTime

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