EURUSD erased its previous gains.

December 7, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0945 1.1010 1.1065
Support 1.0825 1.0770 1.0705
Primary Scenario EURUSD erased its previous gains and is now negotiating below the daily pivot (1.0890). A deeper correction of the market will push prices to find support at 1.0825 and further down to 1.0770.
Alternative Scenario A surge of the market above the daily pivot will lift the exchange rate towards the resistance level at 1.0945.

GBPUSD H4
Resistance 1.5148 1.5191 1.5227
Support 1.5070 1.5034 1.4992
Primary Scenario The pair edged up at 1.5158, before closing below the daily pivot at 1.5113. If the bears manage to take control of the bulls, the next support is seen at 1.5070 and then lower at 1.5034.
Alternative Scenario Alternatively, a higher thrust of GBPUSD will trigger the pair to eliminate the daily pivot point, with immediate target the resistance at 1.5148.

USDCHF H4
Resistance 1.0022 1.0088 1.0144
Support 0.9900 0.9844 0.9778
Primary Scenario USDCHF bounced up from the previous bottom and is now hovering above the daily pivot (0.9966). A decisive movement to the north will generate strength for the rate to target the resistance level ay 1.0022 and even higher at 1.0088.
Alternative Scenario Should the pair achieve to break the daily pivot, it will find support at 0.9900.

USDJPY H4
Resistance 123.36 123.55 123.74
Support 123.21 122.99 122.75
Primary Scenario The bullish scenario is now in effect. If the pair manages to penetrate the hurdle at 123.36, it will fuel USDJPY towards the forthcoming resistance levels at 123.55 and 123.74.
Alternative Scenario On the other hand, a plunge of the market below the support level at 123.21 will open the way down to 122.99.

AUDUSD H4
Resistance 0.7387 0.7439 0.7493
Support 0.7281 0.7227 0.7175
Primary Scenario AUDUSD is gyrating the daily pivot point at 0.7333. A persistent trading below the daily pivot will pave the path down to 0.7281 and then lower at 0.7227.
Alternative Scenario. An upward wave would lead the pair to exceed the daily pivot, targeting the resistance level at 0.7387.

 

Article by ForexTime

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