EURUSD: The trend has been overall been neutral.

May 13, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1412 1.1449 1.1470
Support 1.1353 1.1333 1.1295
Primary Scenario The trend has been overall been neutral. Any purposeful movement to the south will push EURUSD to find support at 1.1353. A break back below this level will pave the path down to 1.333.
Alternative Scenario A surge of the pair above the daily pivot point at 1.1391 will lift the exchange rate towards 1.1412.

GBPUSD H4
Resistance 1.4515 1.4584 1.4639
Support 1.4391 1.4336 1.4267
Primary Scenario The range has been limited between 1.4391 and 1.4515. Should the bears manage to take control of the bulls, the next support is seen at 1.4391 and even lower at 1.4336.
Alternative Scenario Alternatively, an upward wave would fuel GBPUSD to penetrate the daily pivot (1.4460), with immediate target the resistance at 1.4515.

USDCHF H4
Resistance 0.9729 0.9758 0.9791
Support 0.9667 0.9633 0.9604
Primary Scenario USDCHF bounced up from the previous bottom at 0.9667 and is now heading towards 0.9729. A successful attempt to exceed this level will most likely trigger the market to hit the forthcoming resistance level at 0.9758.
Alternative Scenario A plunge of the market below the daily pivot will push the currency pair to retest the support at 0.9667.

USDJPY H4
Resistance 109.36 109.85 110.33
Support 108.71 108.21 107.84
Primary Scenario The pair is hovering slightly above the upper level of the Kumo (108.71). An upward wave would accelerate USDJPY to retest the hurdle at 109.36 and even higher at 109.85.
Alternative Scenario On the other hand, a drop of the market below the upper level of the cloud will push prices to find support at 108.21.

AUDUSD H4
Resistance 0.7365 0.7406 0.7434
Support 0.7295 0.7267 0.7226
Primary Scenario AUDUSD is now testing the key support level at 0.7295. A successful violation of this level will open the way towards to 0.7267 and further down to 0.7226.
Alternative Scenario A surge of the exchange rate will lead the pair towards the daily pivot point at 0.7337.

 

Article by ForexTime

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