AUDUSD formed a hammer.

January 19, 2016

Article by ForexTime

EURUSD H4
Resistance 1.0921 1.0953 1.0980
Support 1.0863 1.0836 1.0804
Primary Scenario EURUSD has experienced strong resistance below the daily pivot point (1.0895). A tumble of the market will trigger the market to breach the support level at 1.0863, targeting the forthcoming level at 1.0836.
Alternative Scenario A higher thrust of the currency pair will fuel the rate to exceed the daily pivot. The next resistance is seen at 1.0921.

GBPUSD H4
Resistance 1.4296 1.4352 1.4382
Support 1.4210 1.4179 1.4123
Primary Scenario The pair is gyrating the daily pivot point at 1.4266. A decisive movement to the north will accelerate GBPUSD to hit the resistance level at 1.4296 and even higher at 1.4352.
Alternative Scenario Alternatively, a comeback of the market will push prices below the daily pivot and further down to 1.4210.

USDCHF H4
Resistance 1.0079 1.0111 1.0150
Support 1.0009 0.9969 0.9938
Primary Scenario USDCHF is now testing the hurdle at 1.0079. A successful penetration of this level will lift the exchange rate towards the forthcoming resistance level at 1.0111 and then higher at 1.0150.
Alternative Scenario A plunge of the market will lead the currency pair to find support at the daily pivot at 1.0040.

USDJPY H4
Resistance 117.76 118.05 118.37
Support 117.44 116.98 116.50
Primary Scenario The pair is now poised to surpass the lower level of the cloud (117.76). A fruitless attempt to penetrate this level will lead the market down to 117.44 and even lower at 116.98.
Alternative Scenario On the other hand, should the pair achieve to exceed the barrier at 117.76, it will target the resistance within the Kumo at 118.05.

AUDUSD H4
Resistance 0.6917 0.6969 0.7013
Support 0.6821 0.6777 0.6725
Primary Scenario AUDUSD formed a hammer and indicates bullish implications. If the pair manages to withstand the sellers’ pressure, it will eliminate the hurdle at 0.6917, targeting the next resistance level at 0.6969 and further up to 0.7013..
Alternative Scenario. A break back below the daily pivot (0.6873) will lead the currency pair down to 0.6821.

 

Article by ForexTime

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