EURUSD turned sharply bullish.

August 20, 2015

Article by ForexTime

 

EURUSD H4
Resistance 1.1162 1.1206 1.1279
Support 1.1046 1.0973 1.0929
Primary Scenario EURUSD turned sharply bullish. If the pair manages to extend its momentum, it will climb towards the resistance level at 1.1162 and then higher at 1.1206.
Alternative Scenario A reversal back below the daily pivot will push the market to find support at 1.1046.

 

 

GBPUSD H4
Resistance 1.5707 1.5735 1.5772
Support 1.5642 1.5606 1.5577
Primary Scenario The pair is pivoting around the daily pivot (1.5671). A decisive movement to the north will trigger the market to retest the hurdle at 1.5707 and further to 1.5735.
Alternative Scenario On the other hand, a comeback of GBPUSD below the daily pivot will target the barrier at 1.5642.

 

 

USDCHF H4
Resistance 0.9740 0.9825 0.9873
Support 0.9606 0.9557 0.9472
Primary Scenario USDCHF is following a downtrend. If the pair achieves to breach the key support level at 0.9606, the next target is seen at 0.9557.
Alternative Scenario A higher thrust of the currency pair above the daily pivot will lift the market towards the resistance at 0.9740.

 

 

USDJPY H4
Resistance 124.06 124.36 124.53
Support 123.67 123.50 123.08
Primary Scenario The pair is now testing the Tenkan-sen level at 124.06. A failed attempt to move higher will push prices to find support at 123.67 and then lower at 123.50.
Alternative Scenario Alternatively, an upward wave would lead USDJPY to penetrate the hurdle at 124.06, with immediate target the resistance level at 124.36.

AUDUSD H4
Resistance 0.7375 0.7406 0.7438
Support 0.7312 0.7280 0.7250
Primary Scenario AUDUSD is gyrating the daily pivot point at 0.7343. If the pair manages to withhold the sellers’ pressure, the next resistance is seen at 0.7375 and even higher at 0.7406.
Alternative Scenario. A drop of the market below the daily pivot will open the way down to the forthcoming support level at 0.7312.

 

 

Article by ForexTime

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