USDJPY: The bullish scenario is still in effect.

November 5, 2014

Article by ForexTime

EURUSD H4
Resistance 1.2587 1.2629 1.2683
Support 1.2492 1.2438 1.2396
Primary Scenario EURUSD is trading at the daily pivot at 1.2534. Any decisive movement downwards will open the way towards the support level at 1.2492 and then lower at 1.2438.
Alternative Scenario A higher thrust of the pair will lead the rate above the daily pivot zone up to the resistance level at 1.2587.

 

GBPUSD H4
Resistance 1.6022 1.6044 1.6073
Support 1.5972 1.5943 1.5921
Primary Scenario The pair has violated the daily pivot (1.5993) and cleared the support level at 1.5972. A sustained trading below this level will push prices lower to find support at 1.5943 and even lower at 1.5921.
Alternative Scenario An upward wave could be a catalyst for the market to surpass the resistance level at 1.5972 and further up at the daily pivot.

 

USDCHF H4
Resistance 0.9644 0.9691 0.9723
Support 0.9565 0.9532 0.9486
Primary Scenario USDCHF is negotiating below the daily pivot at 0.9611. Any forceful movement to the south, will lead the pair to retest the key support at 0.9565. A breach of this level will pave the way down to the next target at 0.9532.
Alternative Scenario A successful attempt to exceed the daily pivot, will lift the currency rate to the hurdle at 0.9644.

 

USDJPY H4
Resistance 114.81 115.84 117.58
Support 114.21 113.17 112.52
Primary Scenario The bullish outlook is still in effect. If the pair manages to extend its uptrend, it will climb towards the resistance levels at 114.81 and 115.84 (Fibonacci resistance levels 161.8% and 261.8&).
Alternative Scenario A break back below the support at 114.21, will push the market to find support at 113.17. RSI oscillator supports this scenario.

 

AUDUSD H4
Resistance 0.8775 0.8813 0.8878
Support 0.8671 0.8606 0.8568
Primary Scenario AUDUSD is oscillating the daily pivot (0.8710). Any purposeful movement downwards, will push the pair to target the support at 0.8671 and further down to 0.8606.
Alternative Scenario If the history repeats, the exchange rate will penetrate the daily  pivot, targeting the hurdle at 0.8775.

 

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