USDCHF: Trading above the Kumo with bullish implications.

October 12, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1405 1.1456 1.1525
Support 1.1285 1.1216 1.1165
Primary Scenario EURUSD surpassed the critical barrier at 1.1336 (daily pivot) in the previous session. If the pair manages to extend its uptrend, the next resistance is seen at 1.1405 and even higher at 1.1456.
Alternative Scenario A reversal back below the daily pivot will pave the path down to 1.1285.

 

 

GBPUSD H4
Resistance 1.5360 1.5413 1.5443
Support 1.5277 1.5246 1.5194
Primary Scenario The pair is trading on the daily pivot point at 1.5329. A bounce up from current levels will trigger the market to retest the hurdle at 1.5360 and further up to 1.5413.
Alternative Scenario On the other hand, should GBPUSD achieve to violate the daily pivot it will find support at 1.5277.

 

 

USDCHF H4
Resistance 0.9663 0.9713 0.9752
Support 0.9574 0.9535 0.9485
Primary Scenario USDCHF is following a downtrend. A break back below the support at 0.9574 will most likely push prices lower towards the next target at 0.9535.
Alternative Scenario A surge of the currency pair above the daily pivot (0.9624) will lead the market to hit the resistance at 0.9663.

 

 

USDJPY H4
Resistance 120.21 120.33 120.56
Support 120.09 119.95 119.70
Primary Scenario The pair is trading above the Kumo with bullish implications. A successful attempt to penetrate the hurdle at 120.21 will generate strength for USDJPY to target the forthcoming resistance levels at 120.33 and 120.56.
Alternative Scenario Alternatively, a plunge of the market below the support at 120.09 will lead the exchange rate to find support at 119.95.

AUDUSD H4
Resistance 0.7365 0.7402 0.7460
Support 0.7269 0.7211 0.7174
Primary Scenario AUDUSD is trading near a multi-month high. If the pair achieves to withstand the sellers’ pressure, it will climb towards the resistance level at 0.7365 and then higher at 0.7402.
Alternative Scenario. A comeback of the market below the daily pivot (0.7306) will open the way down to 0.7269. RSI oscillator supports this outlook.

 

 

Article by ForexTime

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