EURUSD surged above the daily pivot.

November 13, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0863 1.0915 1.1002
Support 1.0724 1.0638 1.0586
Primary Scenario EURUSD surged above the daily pivot (1.0777) in the previous session. Further increase of the exchange rate would trigger the market to hit the resistance level at 1.0863 and then higher at 1.0915.
Alternative Scenario A drop of the market below the daily pivot will push the pair to find support at 1.0724.

GBPUSD H4
Resistance 1.5257 1.5287 1.5330
Support 1.5185 1.5143 1.5113
Primary Scenario The strength of the market faded and GBPUSD is heading towards the support level at 1.5185. A break back below this level will open the way down to 1.5143.
Alternative Scenario Alternatively, an upward wave will lift the currency pair above the daily pivot, with immediate target the resistance level at 1.5257.

USDCHF H4
Resistance 1.0059 1.0120 1.0156
Support 0.9962 0.9926 0.9865
Primary Scenario USDCHF is gyrating the daily pivot point at 1.0023. A decisive movement to the north will fuel the pair towards the resistance level at 1.0059 and then higher at 1.0120.
Alternative Scenario Should the pair achieves to violate the daily pivot, the next support is seen at 0.9962.

USDJPY H4
Resistance 122.78 123.19 123.59
Support 122.53 122.27 121.85
Primary Scenario The pair is now poised to surpass the Tenkan-sen line at 122.78. If that happens, the next resistance is estimated at 123.19.
Alternative Scenario On the other hand, a breach of the support level at 122.53 will lead USDJPY to find support at 122.27.

AUDUSD H4
Resistance 0.7164 0.7207 0.7262
Support 0.7067 0.7012 0.6969
Primary Scenario AUDUSD is still trading above the daily pivot point (0.7110). If the pair manages to withhold the sellers’ pressure, it will climb towards the resistance levels at 0.7164 and 0.7207.
Alternative Scenario. A setback of the currency pair below the daily pivot will pave the path down to 0.7067.

 

Article by ForexTime

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