Fresh lows for GBPUSD.

January 7, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1943 1.1998 1.2028
Support 1.1858 1.1829 1.1774
Primary Scenario EURUSD is now trading near the previous lows at the support level 1.1858. A decisive movement downwards will push prices to breach this level with immediate target the next support at 1.1829. Further drop of the market will lead the pair to fresh lows down to 1.1774.
Alternative Scenario A surge of the exchange rate will lift the market towards the daily pivot point at 1.1913 and further up at 1.1943. RSI oscillator supports this outlook.

 

GBPUSD H4
Resistance 1.5235 1.5320 1.5367
Support 1.5102 1.5055 1.4970
Primary Scenario The pair is now reaching fresh lows. If GBPUSD manages to extend its downtrend, it will move lower down to 1.5102 and 1.5055. RSI is amounted at 19, trading within an oversold area.
Alternative Scenario A higher thrust of the market will push prices to hit the daily pivot at 1.5188.

 

USDCHF H4
Resistance 1.0126 1.0151 1.0193
Support 1.0058 1.0015 0.9990
Primary Scenario USDCHF is poised to penetrate the hurdle at 1.0126. If that happens, the next resistance is seen at 1.0151 and even higher at 1.0193.
Alternative Scenario A plunge of the pair below the daily pivot (1.0083) will lead the rate down to 1.0058. RSI oscillator supports this sentiment.

 

USDJPY H4
Resistance 119.38 119.81 120.73
Support 118.83 118.19 117.71
Primary Scenario USDJPY negotiates within the Kumo. Any forceful bearish movement will trigger the market to violate the support at 118.83 with immediate target the lower level of the cloud. Further drop of the currency pair will push the market to find support at 117.71.
Alternative Scenario If the pair manages to withhold the sellers’ pressure, it will target the resistance levels at 119.38 and then higher at 119.81.

 

AUDUSD H4
Resistance 0.8132 0.8182 0.8208
Support 0.8056 0.8030 0.7980
Primary Scenario The pair is pivoting around the daily pivot (0.8106). A break back below the support level at 0.8056 will most likely open the way down to the forthcoming support at 0.8030 and further down to 0.7980.
Alternative Scenario Alternatively, a successful attempt to surpass the daily pivot, will fuel the pair towards the resistance at 0.8132

 

 

Article by ForexTime

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