USDCHF: The strength of the market faded.

December 1, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0585 1.0608 1.0622
Support 1.0548 1.0534 1.0511
Primary Scenario EURUSD is gyrating the daily pivot point at 1.0571. A decisive thrust above the hurdle at 1.0585 will trigger the market towards the resistance level at 1.0608 and further up at 1.0622.
Alternative Scenario A plunge of the market below the daily pivot will push the pair to find support at 1.0548.

GBPUSD H4
Resistance 1.5084 1.5113 1.5159
Support 1.5010 1.4964 1.4935
Primary Scenario The pair cleared the key resistance level at 1.5084. A sustained trading above this level will lead the pair to test the forthcoming resistance at 1.5113. A higher thrust of GBPUSD will eliminate this level, with immediate target the hurdle at 1.5159.
Alternative Scenario Alternatively, A comeback of the exchange rate will push prices to breach the now-support at 1.5084 and then lower at the daily pivot (1.5039).

USDCHF H4
Resistance 1.0318 1.0349 1.0379
Support 1.0257 1.0227 1.0196
Primary Scenario The strength of the market faded and USDCHF has violated the daily pivot point at 1.0288. A break back below the support level at 1.0257 will open the way down to 1.0227 and even lower at 1.0196.
Alternative Scenario An upward wave would generate strength for the market to exceed the daily pivot, targeting the resistance level at 1.0318.

USDJPY H4
Resistance 122.97 123.26 123.73
Support 122.80 122.56 122.20
Primary Scenario The pair is now poised to surpass the upper level of the Kumo (122.97). If that happens, the next resistance is seen at 123.26 and further up to 123.73.
Alternative Scenario On the other hand, a reversal back below the support level at 122.80 will pave the path down to 122.56.

AUDUSD H4
Resistance 0.7259 0.7294 0.7339
Support 0.7180 0.7135 0.7101
Primary Scenario AUDUSD is now testing the critical resistance level at 0.7259. A successful attempt to penetrate this barrier will fuel the pair further towards the next resistance levels at 0.7294 and 0.7339.
Alternative Scenario. A comeback of the market will lead the pair to hit the support at the daily pivot at 0.7214.

 

Article by ForexTime

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