EURUSD bounced up from the previous low.

October 30, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1013 1.1041 1.1096
Support 1.0930 1.0874 1.0847
Primary Scenario EURUSD bounced up from the previous low and is now trading above the daily pivot at 1.0958. Further correction of the market will lead the exchange rate to climb towards the resistance levels at 1.1013 and then higher at 1.1041.
Alternative Scenario A setback of the currency pair below the daily pivot will open the way down to 1.0930.

 

 

GBPUSD H4
Resistance 1.5341 1.5370 1.5420
Support 1.5261 1.5212 1.5182
Primary Scenario The pair is now poised to surpass the hurdle at 1.5341. If that happens, the next resistance is seen at 1.5370.
Alternative Scenario Alternatively, a plunge of GBPUSD below the daily pivot (1.5291) will push prices down to 1.5261.

 

 

USDCHF H4
Resistance 0.9934 0.9979 1.0004
Support 0.9865 0.9839 0.9795
Primary Scenario USDCHF topped up at 0.9956, before retracing below the daily pivot at 0.9909. A deeper correction of the market will lead the pair underway towards the support level at 0.9865 and then lower at 0.9839.
Alternative Scenario An upward wave would lift the exchange rate above the daily pivot and even higher at 0.9934.

 

 

USDJPY H4
Resistance 121.19 121.47 121.75
Support 120.82 120.27 119.77
Primary Scenario The pair is pivoting above the Kumo. Any decisive movement to the north will generate strength for the market to eliminate the barrier at 121.19 and further up to 121.47. Further increase of the rate will fuel USDJPY towards the resistance level at 121.75.
Alternative Scenario On the other hand, should the pair manage to breach the support level at 120.82, the next target is estimated within the cloud at 120.27.

AUDUSD H4
Resistance 0.7109 0.7140 0.7161
Support 0.7057 0.7036 0.7005
Primary Scenario AUDUSD has retested the hurdle in line at 0.7109. A successful penetration of this level will most likely trigger the market towards the resistance levels at 0.7140 and 0.7161.
Alternative Scenario. A break back below the daily pivot (0.7088) will push the pair to find support at 0.7057.

 

 

Article by ForexTime

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