EURUSD found support at the daily pivot.

December 2, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0657 1.0683 1.0731
Support 1.0583 1.0535 1.0509
Primary Scenario EURUSD found support at the daily pivot (1.0609). Should the pair manage to withhold the sellers’ pressure, it will climb towards the resistance level at 1.0657 and even higher at 1.0683.
Alternative Scenario Any downward momentum will push prices to hit the support level at 1.0583.

GBPUSD H4
Resistance 1.5118 1.5159 1.5193
Support 1.5043 1.5009 1.4968
Primary Scenario The pair is negotiating below the daily pivot point at 1.5084. Any decisive movement to the south will lead GBPUSD to break the support level at 1.5043, opening the way down to 1.5009.
Alternative Scenario On the other hand, a higher thrust of the market above the daily pivot will lift the exchange rate towards the resistance at 1.5118.

USDCHF H4
Resistance 1.0287 1.0318 1.0335
Support 1.0239 1.0223 1.0192
Primary Scenario USDCHF lost its momentum and is now trading below the daily pivot (1.0270). Further drop of the market will push prices to find support at 1.0239 and further down to 1.0223.
Alternative Scenario A surge of the pair above the daily pivot will trigger the market to retest the hurdle at 1.0287.

USDJPY H4
Resistance 123.08 123.33 123.73
Support 122.98 122.81 122.63
Primary Scenario The pair is now testing the barrier at 123.08. A successful penetration of this level will fuel the pair further towards the resistance level at 123.33.
Alternative Scenario Alternatively, a comeback of USDJPY below the upper level of the Kumo (122.98) will push the pair within the cloud, with immediate target the support at 122.81.

AUDUSD H4
Resistance 0.7363 0.7406 0.7477
Support 0.7249 0.7178 0.7134
Primary Scenario AUDUSD surged into fresh highs in today’s session. If the pair manages to extend its momentum, the next resistance is seen at 0.7363 and then higher at 0.7406.
Alternative Scenario. A reversal back below the daily pivot (0.7292) will eye the rate down to 0.7249.

 

Article by ForexTime

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