EURUSD bottomed at 1.0886.

July 31, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0982 1.1033 1.1078
Support 1.0886 1.0841 1.0790
Primary Scenario EURUSD bottomed at 1.0886, before retracing above the daily pivot point at 1.0937. If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance levels at 1.0982 and 1.1033.
Alternative Scenario Should the pair achieve to break below the daily pivot, it will retest the support level at 1.0886.

 

 

GBPUSD H4
Resistance 1.5639 1.5679 1.5718
Support 1.5560 1.5521 1.5481
Primary Scenario The pair is oscillating around the daily pivot (1.5600). A decisive movement to the north will trigger the market to exceed the hurdle in line at 1.5639, with immediate target the resistance at 1.5679.
Alternative Scenario Alternatively, a comeback of the market will push GBPUSD below the daily pivot, in deeper correction, towards the support level at 1.5560.

 

 

USDCHF H4
Resistance 0.9716 0.9743 0.9769
Support 0.9664 0.9639 0.9612
Primary Scenario USDCHF is now testing the support level at 0.9664. A drop below this level will most likely lead the pair to find support at 0.9639 and even lower at 0.9612.
Alternative Scenario A higher thrust of the market will fuel the pair to target the daily pivot (0.9691) and further up to 0.9716.

 

 

USDJPY H4
Resistance 124.06 124.57 125.03
Support 123.95 123.78 123.40
Primary Scenario The pair is negotiating slightly above the upper level of the Kumo. A bounce up from current levels will generate strength for USDJPY to penetrate the hurdle at 124.06. If that happens, the next resistance is estimated at 124.57.
Alternative Scenario On the other hand, a plunge of the exchange rate below the critical support at 123.95 will bring the pair into the cloud, targeting the support level at 123.78.

AUDUSD H4
Resistance 0.7323 0.7356 0.7390
Support 0.7256 0.7221 0.7188
Primary Scenario AUDUSD is gyrating the daily pivot point (0.7288). An upside momentum will lead the pair to eliminate the barrier at 0.7323 and the market will attempt to target the forthcoming resistance at 0.7356.
Alternative Scenario A setback of the currency pair will push prices below the daily pivot to find support at 0.7256.

 

 

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

 

 

 

 

9 years ago