EURUSD bounced up from the previous low.

December 8, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0852 1.0930 1.0973
Support 1.0791 1.0747 1.0699
Primary Scenario EURUSD bounced up from the previous low and is now heading towards the resistance at 1.0852. A successful penetration of this level will fuel the pair further towards the forthcoming resistance level at 1.0930.
Alternative Scenario A plunge of the market below the daily pivot (1.0838) will open the way down to 1.0791.

GBPUSD H4
Resistance 1.5096 1.5140 1.5166
Support 1.5026 1.5000 1.4956
Primary Scenario The pair is trading in a bearish momentum. If the pair manages to extend its momentum, the next support is seen at 1.5026 and then lower at 1.5000.
Alternative Scenario On the other hand, a comeback of the market will lift GBPUSD towards the daily pivot point at 1.5070.

USDCHF H4
Resistance 1.0029 1.0065 1.0099
Support 0.9959 0.9925 0.9889
Primary Scenario USDCHF is negotiating around the daily pivot (0.9995). Any decisive movement to the south will lead the pair to retest the support level at 0.9959 and even lower at 0.9925.
Alternative Scenario If the pair achieves to surpass the daily pivot, it will climb towards the resistance level at 1.0029.

USDJPY H4
Resistance 123.25 123.47 123.66
Support 123.04 122.90 122.68
Primary Scenario The pair is moving sideways, but still above the Kumo. An upward wave would trigger the market to exceed the hurdle at 123.25, targeting the resistance level at 123.47.
Alternative Scenario Alternatively, a break back below the support level at 123.04 will pave the path down to the upper level of the cloud at 122.90.

AUDUSD H4
Resistance 0.7319 0.7373 0.7404
Support 0.7233 0.7202 0.7148
Primary Scenario AUDUSD cleared the daily pivot (0.7287) and the support level at 0.7233. Further drop of the market will push prices down to 0.7202 and even lower at 0.7148.
Alternative Scenario. A higher thrust of the currency pair above the barrier at 0.7233 will lead the rate to reach the daily pivot point.

 

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

9 years ago