EURUSD continues its bullish sentiment.

August 21, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1287 1.1334 1.1424
Support 1.1150 1.1059 1.1012
Primary Scenario EURUSD continues its bullish sentiment and it is now testing a fresh high at 1.1287. If the pair manages to extend its uptrend, the next resistance is seen at 1.1334 and further up to 1.1424.
Alternative Scenario A comeback of the market will push prices to find support at the daily pivot point at 1.1196. RSI oscillator supports this outlook.

 

 

GBPUSD H4
Resistance 1.5724 1.5760 1.5819
Support 1.5629 1.5569 1.5533
Primary Scenario The pair is moving sideways during this week. If GBPUSD achieves to penetrate the barrier at 1.5724, it will climb towards the resistance level at 1.5760.
Alternative Scenario A failed attempt to move higher will lead the currency pair to retest the daily pivot (1.5665) and then lower at 1.5629.

 

 

USDCHF H4
Resistance 0.9641 0.9699 0.9728
Support 0.9554 0.9525 0.9467
Primary Scenario USDCHF is now heading towards the support level at 0.9554. A break back below this level will most likely open the way down to 0.9525 and then lower to 0.9467.
Alternative Scenario An upward wave would lift the exchange rate towards the daily pivot at 0.9612 and a correction phase will be in effect. RSI is trading within an oversold territory.

 

 

USDJPY H4
Resistance 123.31 123.77 124.27
Support 122.80 122.42 121.82
Primary Scenario The USDJPY pair is following a downtrend. Further drop of the market will push the pair below the key support level at 122.80, targeting the forthcoming level at 122.42 and further down to 121.82.
Alternative Scenario On the other hand, a higher thrust of the pair will fuel the rate towards the resistance at 123.31. RSI supports this sentiment.

AUDUSD H4
Resistance 0.7376 0.7418 0.7464
Support 0.7288 0.7242 0.7200
Primary Scenario AUDUSD is trading slightly below the daily pivot at 0.7330. A decisive movement to the south will trigger the market to breach the barrier at 0.7288, with immediate target the support level at 0.7242.
Alternative Scenario. A surge of the market above the daily pivot will lift the exchange rate towards the resistance at 0.7376.

 

 

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