EURUSD has met a fresh low at 1.2096.

January 2, 2015

Article by ForexTime

EURUSD H4
Resistance 1.2187 1.2218 1.2251
Support 1.2124 1.2091 1.2060
Primary Scenario EURUSD has met a fresh low at 1.2096. If the pair manages to extend its downtrend, it will breach the support at 1.2091, targeting the forthcoming level at 1.2060.
Alternative Scenario On the other hand, a bounce up from current levels will bring the market to a correction phase up to the resistance level at 1.2124. RSI is at 28, trading within an oversold territory.

 

GBPUSD H4
Resistance 1.5588 1.5617 1.5661
Support 1.5515 1.5471 1.5443
Primary Scenario The pair tested the resistance at 1.5617,before retracing below the support at 1.5588. A successful penetration of this level will trigger the market to retest the resistance at 1.5617 and further up at 1.5661.
Alternative Scenario A plunge of the market will push prices to find support at 1.5544.

 

USDCHF H4
Resistance 0.9914 0.9942 0.9966
Support 0.9862 0.9839 0.9810
Primary Scenario USDCHF approached the key resistance at 0.9942. If the market achieves to withstand the sellers’ pressure, it will exceed this level, with immediate target the resistance level at 0.9966.
Alternative Scenario A reversal back of the pair will lead the currency rate down to the support level at 0.9914. RSI oscillator supports this outlook.

 

USDJPY H4
Resistance 119.92 120.16 120.72
Support 119.36 118.85 118.25
Primary Scenario The USDJPY pair is negotiating slightly above the upper level of the Kumo. An upward wave would act as a catalyst for the market to surpass the hurdle at 119.92 and move higher towards the resistance level at 120.16.
Alternative Scenario A setback of the rate, will most likely push the market within the cloud towards the support level at 119.36.

 

AUDUSD H4
Resistance 0.8215 0.8249 0.8297
Support 0.8134 0.8087 0.8053
Primary Scenario The pair is now testing the daily pivot point at 0.8168. A decisive movement to the north will fuel the pair to reach the resistance level at 0.8215 and then higher at 0.8249.
Alternative Scenario A drop of AUDUSD below the daily pivot, will push the pair to find support at 0.8134.

 

 

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