EURUSD is now testing the key support at 1.2121.

December 30, 2014

Article by ForexTime

EURUSD H4
Resistance 1.2200 1.2250 1.2279
Support 1.2121 1.2092 1.2043
Primary Scenario EURUSD is now testing the key support at 1.2121. If the pair manages to breach this level, it will open the way towards the next target at 1.2092 and even lower at 1.2043.
Alternative Scenario A bounce up from current levels will lead the pair to hit the resistance at the daily pivot (1.2171). RSI supports this scenario.

 

GBPUSD H4
Resistance 1.5564 1.5614 1.5643
Support 1.5485 1.5456 1.5406
Primary Scenario The pair is negotiating below the daily pivot at 1.5535. Any decisive movement to the south will push prices to violate the support at 1.5485. The next support is seen at 1.5456.
Alternative Scenario An upward wave, would trigger the market to target the daily pivot at 1.5535 and further up at 1.5564.

 

USDCHF H4
Resistance 0.9922 0.9946 0.9986
Support 0.9857 0.9818 0.9793
Primary Scenario USDCHF is now heading towards the resistance level at 0.9922. A successful attempt to penetrate this level, it will generate strength for the market to target the forthcoming resistance level at 0.9946.
Alternative Scenario A comeback of the market will push prices to find support at 0.9882 (daily pivot point). RSI is trading within an overbought area.

 

USDJPY H4
Resistance 120.50 120.81 121.27
Support 120.25 119.91 119.45
Primary Scenario The strength of USDJPY faded and the currency rate is moving sideways searching for direction. If the pair manages to withhold the bears’ pressure, it will surpass the hurdle at 120.50 with immediate target the next resistance at 120.80.
Alternative Scenario A setback of the pair below the support at 120.25 will lead the market lower down to the support level at 119.91.

 

AUDUSD H4
Resistance 0.8157 0.8185 0.8209
Support 0.8106 0.8082 0.8054
Primary Scenario Having reversed from the previous top, AUDUSD is now trading below the daily pivot at 0.8134. A downward momentum will pave the way down to the forthcoming support at 0.8106 and then lower at 0.8082.
Alternative Scenario A higher thrust of the market will most likely lead the market to exceed the daily pivot and further up at 0.8157.

 

 

Article by ForexTime

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