EURUSD has flattened out.

December 8, 2014

Article by ForexTime

EURUSD H4
Resistance 1.2359 1.2436 1.2480
Support 1.2237 1.2193 1.2115
Primary Scenario EURUSD has flattened out, slightly below the daily pivot at 1.2315. Any decisive movement to the south, will push prices to find support at 1.2237. The next support is seen at 1.2193.
Alternative Scenario Should the pair manage to cross above the daily pivot, it will lift the currency rate up to the resistance level at 1.2359.

 

GBPUSD H4
Resistance 1.5656 1.5738 1.5782
Support 1.5531 1.5487 1.5406
Primary Scenario After the violation of the daily pivot, the pair intends to reach the support level at 1.5531. Further drop of the marker will lead underway down to the forthcoming target at 1.5487.
Alternative Scenario An upward wave, will trigger GBPUSD to target the daily pivot (1.5613) and then higher at 1.5656.

 

USDCHF H4
Resistance 0.9823 0.9859 0.9919
Support 0.9726 0.9666 0.9629
Primary Scenario USDCHF is now testing the previous top. A sustained trading above this level, will fuel the pair further towards the resistance levels at 0.9823 and 0.9859.
Alternative Scenario A comeback of the rate will push the pair to breach the daily pivot at 0.9762. The next support is estimated at 0.9726.

 

USDJPY H4
Resistance 121.84 122.48 123.54
Support 121.29 120.78 120.10
Primary Scenario If USDJPY achieves to withstand the sellers’ pressure, it will exceed the hurdle at 121.84, targeting the next resistance level at 122.48.
Alternative Scenario A plunge of the market below the support level at 121.29, will lead the pair down to the forthcoming support at 120.78. RSI oscillator supports this scenario.

 

AUDUSD H4
Resistance 0.8366 0.8418 0.8444
Support 0.8288 0.8262 0.8210
Primary Scenario AUDUSD has just violated the support level at 0.8288. If the pair manages to extend its downtrend, it will open the way down to the support level at 0.8262 and even lower at 0.8210.
Alternative Scenario A bounce up from current levels, will lead the market to penetrate the now-resistance at 0.8288 and then push the price higher at the daily pivot (0.8340).

 

 

Article by ForexTime

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