EURUSD is searching for direction.

October 21, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1379 1.1414 1.1443
Support 1.1316 1.1287 1.1252
Primary Scenario EURUSD is searching for direction, while trading around the daily pivot (1.1351). If the pair manages to withstand the sellers’ pressure, the next resistance is seen at 1.1379 and even higher at 1.1414.
Alternative Scenario A plunge of the market below the daily pivot will open the way down to 1.1316.

 

 

GBPUSD H4
Resistance 1.5486 1.5531 1.5557
Support 1.5417 1.5390 1.5345
Primary Scenario The strength of the market faded and led GBPUSD below the daily pivot point at 1.5460. Further correction of the currency  pair will push prices to find support at 1.5417 and then lower at 1.5390.
Alternative Scenario On the other hand, a surge of the exchange rate will lift the market above the daily pivot, with immediate target the resistance at 1.5486.

 

 

USDCHF H4
Resistance 0.9589 0.9618 0.9665
Support 0.9512 0.9464 0.9435
Primary Scenario USDCHF turned sharply bullish in the previous session. If the pair achieves to extend its momentum, it will target the resistance level at 0.9589 and further up to 0.9618.
Alternative Scenario A plunge of the market below the daily pivot will see the rate reaching the support level at 0.9512.

 

 

USDJPY H4
Resistance 120.00 120.34 120.91
Support 119.85 119.59 119.30
Primary Scenario The USDJPY pair is now testing the previous top at 120.00. A successful attempt to penetrate this level will trigger the market to hit the forthcoming resistance at 120.34.
Alternative Scenario Alternatively, a break back below the support at 119.85 will push USDJPY to find support at 119.59.

AUDUSD H4
Resistance 0.7290 0.7322 0.7346
Support 0.7234 0.7209 0.7177
Primary Scenario AUDUSD is gyrating the daily pivot point at 0.7265. A bounce up from current levels will generate strength for the market to retest the barrier at 0.7290 and then higher at 0.7322.
Alternative Scenario. If the pair manages to breach the daily pivot, the next support is seen at 0.7234.

 

 

Article by ForexTime

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