USDJPY is now negotiating within the Kumo.

November 2, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1061 1.1119 1.1168
Support 1.0954 1.0906 1.0847
Primary Scenario EURUSD has recovered from the previous low and is now  heading towards the barrier at 1.1061. Should the pair achieve to penetrate this level, the next resistance is seen at 1.1119.
Alternative Scenario A comeback of the currency pair will lead the market below the daily pivot (1.1013) and then lower at 1.0954.

 

 

GBPUSD H4
Resistance 1.5491 1.5558 1.5650
Support 1.5333 1.5241 1.5174
Primary Scenario The pair surged higher above the daily pivot point at 1.5400. If GBPUSD manages to withstand the sellers’ pressure, it will encourage the rate to hit the resistance levels at 1.5491 and 1.5558.
Alternative Scenario On the other hand, a plunge of the rate would push the market below the daily pivot, with immediate target the support level at 1.5333.

 

 

USDCHF H4
Resistance 0.9909 0.9942 0.9974
Support 0.9845 0.9812 0.9780
Primary Scenario USDCHF is still trading below the daily pivot (0.9877). A break back below the support level at 0.9845 will open the way down to 0.9812 and even lower at 0.9780.
Alternative Scenario A higher thrust of the market would lead the pair to exceed the daily pivot, targeting the resistance level at 0.9909.

 

 

USDJPY H4
Resistance 120.44 120.76 121.19
Support 120.25 120.00 119.77
Primary Scenario The pair is now negotiating within the Kumo. A decisive movement to the north will fuel the pair to surpass the hurdle at 120.44, leading the way up to 120.76. Further increase of the market will lift USDJPY out of the cloud. The next resistance is estimated at 121.19.
Alternative Scenario Alternatively, any breach of the support level at 120.25 will push prices down to 120.00.

AUDUSD H4
Resistance 0.7161 0.7190 0.7232
Support 0.7090 0.7048 0.7019
Primary Scenario AUDUSD bounced up from the previous bottom and is now poised to retest the hurdle in line at 0.7161. If the pair achieves to penetrate this level, it will climb towards the forthcoming resistance level at 0.7190 and further up to 0.7232.
Alternative Scenario. A reversal back below the daily pivot (0.7119) will pave the path towards the support level at 0.7090.

 

 

Article by ForexTime

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